DB

General Motors topped analysts' third-quarter top- and bottom-line estimates, but that didn't stop the post-earnings selloff that has seen the stock drop 7.2% over the last two sessions, including a 1.15% decline on Wednesday, Oct. 21. The firm tightened its EBIT guidance slightly to between $14.5 billion and $15.5 billion, down from its previous range of $14 billion to $16 billion. It also tightened its earnings per share guidance to between $12.75 and $13.75 per share, down from its previous view of $12 to $14 per share. And that was enough to send the stock reeling. However, analysts at Deutsche Bank say that while the market has priced in the headwinds facing GM, it is overlooking the execution the company has demonstrated this year. Deutsche Bank analyst Edison Yu says the firm is one of the "dip buyers" on yesterday's pullback in a note published Oct. 21. ¨The stock reacted negatively to softer 2027 outlook which is understandable,¨ Yu said. ¨However, GM has repeatedly shown it can absorb a variety of headwinds and deliver upside to expectations. Moreover, the new $20 billion buyback authorization represents 30% of market cap and will further shrink the share count and support EPS growth (even in a flattish EBIT environment).¨ Related: GM shares are on sale for investors willing to buy into weakness, analyst says The firm reiterated its buy rating, though it did lower its price target to $98 from $101. GM shares were trading at about $76 per share at the close on Oct. 21. DB analysts focused on the good news from the just-concluded quarter rather than the more conservative outlook, noting that the car maker reported its third consecutive quarter of ¨strong results with EBIT higher than our consensus estimates.¨ The earnings and revenue beats were driven by GM's North American operations, which benefited from $600 million in cost improvements and $ 400 million in volume contributions. Deutsche Bank analysts noted that GM narrowed its guidance this time around and that ¨investor expectations for the year were biased towards the upper end of the range coming into the quarter.¨ They also say the tightened future guidance is a reflection of the strong present the company is experiencing. ¨The $500 million narrowing at both the high and low ends is driven by better-than-anticipated volumes, offset by higher-than-expected costs, most of which will flow through in 4Q.,¨ Yu said. More auto news: - Car owners delay repairs amid affordability challenges - Tesla price target lowered by analysts worried about runaway $25 billion spending - GM stock will see major benefit from latest redesign While the firm is bullish on GM's future, it says growth hinges on whether the company can find additional ways to cut costs. But it expects Q1 2027 to be its weakest quarter next year as the company's changeover to its next-generation full-size pickups will lead to plant downtime and slower line rates. But the firm believes in General Motors' plan to reduce costs. ¨To offset the cost pressure, management plans to pursue structural cost-reduction programs, a lever it has used before,¨Yu said. ¨Overall, we see 2027 as a year where truck-driven price/mix and cost actions must work harder just to absorb commodity inflation, which limits visibility of meaningful EBIT growth.¨ Still, the firm expects free cash flow from automotive operations to increase again in 2027 as it has this year. ¨Meanwhile, GM has completed its $6 billion buyback announced in January and authorized a new $20 billion program, signaling confidence in its FCF outlook and its view that the stock is undervalued. Related: GM wants drivers to be able to text and drive This story was originally published by TheStreet on Oct 22, 2026, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.

Investing.com -- Information services companies are preparing to report third-quarter results amid a challenging backdrop of higher interest rates, macro uncertainty, regulatory pressures, and artificial intelligence concerns, according to a Deutsche Bank note from analyst Faiza Alwy. Still guessing which stocks will beat the market? Our AI portfolio updates monthly and is outperforming the S&P 500 by 118%. See this month's list » The upcoming earnings season will be particularly important as investor attention turns to calendar year 2027 outlook and modeling assumptions. Deutsche Bank has adjusted price targets across most of its coverage to account for a higher cost of capital and has taken a closer look at CY27 estimates. The firm's CY27 estimates are below Street consensus for rate-sensitive names, reflecting current macro volatility. Below is Alwy's key commentary regarding several info services stocks ahead of earnings: 1. MSCI Inc (NYSE:MSCI) - Deutsche Bank continues to favor MSCI for the long term. The stock has demonstrated resilience, though the company needs to clear the net new sales bar this quarter. Net new sales can be lumpy, making this metric a key focus area for investors. Unsure what to buy ahead of earnings? Our AI's recent pre-earnings calls delivered gains of +77% to +118% after results dropped. See this month's earnings picks » 2. Gartner Inc (NYSE:IT) - Gartner has been the best-performing name in the sector over the past month as near-term expectations have moved higher. The analyst noted that AI-related newsflow continues to drive stock volatility, with Gartner benefiting from positive sentiment. 3. Fair Isaac Corporation (NYSE:FICO) and Credit Bureaus - FICO and the credit bureaus remain under pressure in the near term. The companies face headwinds from elevated interest rates, regulatory changes, and evolving mortgage market dynamics that are weighing on performance expectations. 4. S&P Global Inc (NYSE:SPGI) and Moodys Corporation (NYSE:MCO) - Sentiment on the rating agencies has cooled alongside wider credit spreads and higher bond yields. The current interest rate environment is creating challenges for these rate-sensitive businesses, Alwy said. 5. CoStar Group Inc (NASDAQ:CSGP) - CoStar needs to demonstrate stabilization at Apartments.com and reset revenue expectations, the analyst posited. The company faces pressure to show improvement in its residential rental platform performance. 6. Verisk Analytics Inc (NASDAQ:VRSK) - Verisk remains a battleground stock amid concerns about soft insurance market conditions and AI uncertainty. While an organic acceleration would help improve the narrative, Deutsche Bank expects the debate around the stock to persist. Original Article Info Services stocks face headwinds ahead of Q3 earnings season - Deutsche Bank Exclusive: FFR signs definitive deal for Faraday Future's robotics unit at $200m Anduril allows staff to sell shares at $90 billion valuation - report

Investing.com -- S&P 500 earnings growth should hold at a record 34% in the third quarter, well above what Wall Street expects, as the tailwinds behind the second-quarter surge show no sign of fading, Deutsche Bank says. Before you buy NVIDIA: our AI model's stock picks are beating the market by 120%+. See the list now » Strategists led by Binky Chadha said they see "no signs of a deceleration in AI demand," along with a further pickup in cyclical growth, strong though slower gains in oil and commodity prices, and a continued boost from tariff refunds. Second-quarter growth of 34% was unprecedented outside recession rebounds, they noted. Consensus expects a broad slowdown, with earnings growth of 26.7%. That is the highest consensus going into any earnings season on record, excluding recession recoveries. But Deutsche Bank's forecasts are 6% above consensus, versus an average beat of 3.3% at this stage historically, setting up another quarter of above-average beats. The strategists cited several indicators for AI demand. South Korean and Taiwanese semiconductor production and exports picked up from the second to the third quarter, and rising GPU rental prices point to tight supply. Deutsche Bank forecasts earnings growth at 54% for the media, communications and technology sector in both quarters, lifting its contribution to overall growth to 21 percentage points from 19.5. Not finding the right stocks? Our AI's list of investor-grade stock picks for October just dropped » Cyclical growth is also accelerating, with the ISM manufacturing index rising sharply to its highest in four and a half years, and the bank sees consumer cyclicals growth rising to 10% from 8% and industrial cyclicals to 15% from 13%. Sector-wise, Energy and Materials growth should remain very strong, the strategists said, though lower than in the second quarter, at 129% and 38%. Tariff refunds should again add about 2 percentage points after a similar boost last quarter. Higher oil prices are weighing on some sectors with a lag, the team said, but the hit has been modest and concentrated. Estimates for airlines are down 17% since the start of the war in Iran, autos 9%, packaging 9% and travel excluding airlines 6%. Earnings seasons have been positive for stocks, with the S&P 500 rising in three of four since the financial crisis, by an average 2%, the bank noted. This season also includes a Federal Reserve meeting and the U.S. midterm elections, which could add volatility, but the strategists said "the risk-reward in our view remains favorable." In 21 of the last 23 election years, the S&P 500 rallied in the fourth quarter by an average of 7%. Original Article Deutsche Bank sees earnings growth sustaining at record levels in Q3 European shares drift to 4-month lows on mega-debt swaps, and French debt woes Citi names 5 top chip picks ahead of Q3 earnings

Deutsche Bank expects S&P 500 earnings growth to hold at a record 34% in the third quarter, well ahead of the 27% consensus, as AI demand and a cyclical upswing show no sign of fading. The bank said in its Q3 earnings preview that the forces behind Q2's 34% surge, up from 25% in Q1, remain firmly in place. Those included AI demand growth of 54%, which contributed 20 percentage points to the headline figure, along with rebounding cyclical growth and higher oil and commodity prices. "Putting it all together, we see earnings growth sustaining at record levels," analysts wrote. Deutsche Bank pointed to faster semiconductor production and exports from South Korea and Taiwan, and rising GPU rental prices, as evidence that AI demand stayed strong. ISM manufacturing rose to its highest level in four and a half years. The macro consensus expects US GDP growth to pick up to 2.8% from 2.2%, while the Atlanta Fed's tracking estimate is 3.7%. Energy and Materials earnings are expected to stay very strong, though slightly lower than in Q2. Deutsche Bank sees Energy growth easing to 129% from 138% and Materials to 38% from 50%. Tariff refunds should add roughly 2 percentage points to growth again, as they did in Q2. The bank expects growth to remain broad-based. It sees Consumer Cyclicals rising to 10% from 8% and Industrial Cyclicals to 15% from 13%, excluding Boeing's base effects. Financials are forecast to slow to 10% from 23%, while defensives edge up to 10% from 9%. Higher oil prices are weighing on some sectors, with estimates for airlines down 17% and autos down 9% since the start of the war in Iran. Consensus expects Q3 growth of 26.7%, the highest going into any earnings season on record outside of recession recoveries, implying a 7.5 percentage point deceleration. Deutsche Bank's forecasts sit 6.0% above consensus, compared with an average historical beat of 3.3%. It expects above-average beats for Financials and below-average beats for Industrial Cyclicals, Energy and Materials. Deutsche Bank said earnings seasons have historically been positive for equities. The S&P 500 has risen in three of four seasons since the global financial crisis, gaining an average of 2%, and the bank said the rallies have been even more pronounced over the past year. This season coincides with an FOMC meeting in late October and the US mid-term elections in early November, which could add volatility. "While this season features an FOMC meeting and the US mid-term elections which could introduce additional volatility, the risk-reward in our view remains favorable," analysts wrote. Even so, Deutsche Bank sees a favourable risk-reward. The S&P 500 has rallied in the final quarter in 21 of the last 23 election years, by an average of 7%.

Investing.com -- Deutsche Bank upgraded Spanish utility Iberdrola to "buy" from "hold" on Tuesday, citing potential upside from a strategic plan update due in March 2027 and stronger earnings expectations. Still guessing which names to buy? Our AI rebuilds its stock picks at the start of every month. The list is beating the market by 120%. See what's on it » The broker raised its price target to €22 from €18.50, mainly reflecting higher earnings forecasts driven by stronger power prices and a better near-term growth outlook. Deutsche Bank raised its 2027 earnings-per-share forecast to €1.14 from €1.09 and its 2028 forecast to €1.27 from €1.17, while leaving its 2026 estimate unchanged at €1.01. Iberdrola is due to unveil a new plan in March 2027. Deutsche Bank expects the company to extend its current 2025-28 plan through 2030 and potentially raise its annual adjusted net income growth target to 10% from 8%. That would put adjusted net income at around €10 billion by 2030, about 10% above Bloomberg consensus, the broker said. Should you buy NVIDIA right now? Before you decide, consider this: an AI-powered list of stock picks is outperforming the market by 120%, and it updates at the start of every month. See this month's picks » Deutsche Bank also expects Iberdrola to raise its 2026 guidance at its third-quarter results, forecasting adjusted net income growth of 12% for the year versus current guidance of at least 8%. The bank expects double-digit earnings growth to continue through 2028, with medium-term consensus earnings potentially rising by around 10%. Iberdrola trades at about 16 times Deutsche Bank's 2028 earnings estimate, versus 13 times for the sector. The bank said the utility's valuation premium to direct peers is at its lowest level for some time. Its €22 price target equates to 17.4 times estimated 2028 earnings and implies 8% share-price upside from Iberdrola's €20.33 closing price on Sept. 25, with total return potential of 13%. Deutsche Bank cited higher power prices, Spain's planned 2027 capacity market, data-centre demand and rising U.S. power purchase agreement prices as potential earnings drivers. It also pointed to persistently high inflation in Britain as supportive of its outlook. Key risks include adverse political or regulatory changes and lower power prices, while the bank said its forecasts could prove too optimistic if Iberdrola adopts less ambitious growth targets in its new plan. Looking for the next multi-bagger? This AI enabler is up 90%+ since picked by our AI models in July -- and still has a 62% upside » Original Article Deutsche Bank bullish on Iberdrola on power prices, earnings growth European equities rise as tech gains on Anthropic's outlook European chip stocks rise as Anthropic spending outlook lifts AI demand hopes

Hewlett Packard Enterprise (NYSE:HPE) shares rose 4.7% to $53.28 in premarket trading on Wednesday ahead of the company’s fiscal third-quarter 2026 earnings report, scheduled for release after the market close. The stock had closed the previous session at $50.87. The move also followed recent analyst actions and quarterly results from Dell, another company with exposure to AI infrastructure. Major U.S. equity benchmarks were trading modestly lower in premarket trading, according to the supplied information. Deutsche Bank initiated coverage of Hewlett Packard Enterprise with a Buy rating and a $62 price target on September 1. Bank of America separately increased its price target on HPE to $82 from $80, citing the company’s position in AI infrastructure. The ratings and price targets represent the respective analysts’ assessments and are not established future share prices. Consensus estimates cited in the supplied information indicate that Hewlett Packard Enterprise is expected to report approximately 32% year-over-year revenue growth for the fiscal third quarter. Analysts also expect earnings per share to more than double compared with the corresponding period a year earlier. HPE has reported earnings per share above consensus estimates in each of its previous four quarters, with an average difference of approximately 16%, according to the supplied information. Previous results do not indicate whether the company will exceed expectations in its upcoming report. Hewlett Packard Enterprise’s AI server backlog stands at $6.3 billion, with approximately two-thirds associated with enterprise and sovereign deployments, according to the supplied information. The backlog provides an indication of contracted or expected demand but does not by itself determine the timing or amount of future revenue recognition. Broadcom is also scheduled to report results on Wednesday, placing additional investor attention on companies with exposure to AI infrastructure. Hewlett Packard Enterprise’s fiscal third-quarter report will provide an update on the company’s financial performance and its AI infrastructure operations. The 4.7% premarket increase comes ahead of those results and after recent analyst actions. However, the extent to which individual factors, including analyst ratings, expectations for the earnings report or results from other technology companies, contributed to the share-price move cannot be established from the supplied information. Hewlett Packard Enterprise stock price

A month has gone by since the last earnings report for Deutsche Bank (DB). Shares have added about 8.2% in that time frame, outperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Deutsche Bank due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Deutsche Bank reported second-quarter 2026 earnings attributable to its shareholders of €1.64 billion ($1.87 billion), up 10.5% year over year. This Germany-based lender reported a profit before tax of €2.68 billion ($3.05 billion), up 10.7% from the year-ago quarter. Increased revenues across all four business segments aided results. However, higher non-interest expenses and provisions for credit losses were headwinds. Revenues & Expenses The bank generated net revenues of €8.48 billion ($9.65 billion), up 8.7% year over year. Non-interest expenses of €5.34 billion ($6.07 billion) increased 7.7% from the prior-year quarter. The rise reflected higher fixed-pay and performance-related compensation, continued franchise investments, the impact of the announced sale of the Private Bank’s India franchise and the non-recurrence of litigation-related releases in the prior-year quarter. Provision for credit losses was €460 million ($523.3 million), up 8.7% from the prior-year quarter. Segmental Performance Corporate Bank: Net revenues from the segment were €1.91 billion ($2.17 billion), up 1% year over year. Growth in net interest income and commission and fee income supported results. Investment Bank: This segment’s net revenues totaled €3.19 billion ($3.62 billion), which increased 18.5% year over year. The upside was driven by record Fixed Income & Currencies revenues and 36% growth in Investment Banking & Capital Markets revenues. Private Bank: Net revenues of €2.57 billion ($2.92 billion) rose 8.2% year over year. The increase reflected higher deposit and investment product revenues. Asset Management: Net revenues of €756 million ($860 million) rose 4.3% year over year. A 13% increase in management fees, supported by higher average assets under management, aided results. Corporate & Other: The segment reported net revenues of €65 million ($73.9 million), down 48% from the prior-year quarter. Capital Position The company’s Common Equity Tier 1 capital ratio was 13.9% as of June 30, 2026, down from 14.2% in the year-ago quarter. The leverage ratio was 4.5%, down from the year-ago quarter’s 4.7%. 2026 Deutsche Bank expects full-year revenues of around €33 billion. This is supported by banking book net interest income increasing to around €14 billion and continued growth in net commission and fee income. Management expects noninterest expenses to increase to slightly above €21 billion in 2026. This includes approximately €900 million of incremental investments to support growth initiatives and efficiency measures. Provision for credit losses is expected to trend moderately downward in 2026 compared with 2025, moving closer to an average run rate of around 30 basis points through 2028. Post-tax Return on tangible equity is expected to improve further as part of the next phase of execution, with annual operating performance improvements. Management expects to increase the payout ratio to 60% beginning in 2026. Dividend per share is expected to grow modestly on a continuous basis, complemented by share buybacks. The CET1 capital ratio is expected to remain within the 13.5%–14.0% operating range. If the ratio sustainably exceeds this range, management may deploy additional capital through distributions, subject to regulatory approval. Medium-Term Outlook (2028) Deutsche Bank expects a post-tax Return on Tangible Equity of greater than 13% by 2028. Management expects the cost/income ratio to decline to below 60% by 2028. The bank targets a Group revenue CAGR of greater than 5% between 2025 and 2028. The CET1 capital ratio operating range is expected to remain at 13.5%–14.0%. The payout ratio is targeted at 60%, subject to capital position and regulatory approval. In the past month, investors have witnessed a downward trend in estimates review. The consensus estimate has shifted -8.7% due to these changes. At this time, Deutsche Bank has a poor Growth Score of F, a score with the same score on the momentum front. However, the stock was allocated a score of B on the value side, putting it in the top 40% for value investors. Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. Notably, Deutsche Bank has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Deutsche Bank Aktiengesellschaft (DB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Get insights on thousands of stocks from the global community of over 7 million individual investors at Simply Wall St. Price targets for Bloomin' Brands have shifted from levels near $8 to around $12, reflecting a meaningful reset in how analysts are framing the stock. Recent commentary describes a more constructive but still cautious stance, with higher targets linked to the latest quarterly results, updated guidance, and early signs from the Outback U.S. turnaround. As you read on, you will see how these changing targets and mixed views shape the current narrative and what to watch as it evolves. Analyst Price Targets don't always capture the full story. Head over to our Company Report to find new ways to value Bloomin' Brands. Morgan Stanley, Citi, Deutsche Bank and Piper Sandler all raised price targets on Bloomin' Brands into a US$11 to US$12.75 range, which signals increased confidence in the current valuation framework after the latest results. Both Morgan Stanley and Deutsche Bank described the recent quarter as strong within casual dining, with Morgan Stanley pointing to results that beat modest expectations and supported an ongoing cycle of estimate revisions. Piper Sandler highlighted same store sales that came in above guidance, and pointed to management commentary on the Outback U.S. turnaround as relatively constructive, which supports the view that operational execution is improving. Morgan Stanley kept an Equal Weight rating, Citi and Piper Sandler stayed Neutral and Deutsche Bank kept a Hold, which shows that despite the higher targets, the overall stance on Bloomin' Brands remains cautious rather than outright positive. Piper Sandler flagged that reported traffic at Outback U.S. is still soft and Deutsche Bank described the turnaround as in the early innings, which leaves execution risk around guest traffic and longer term growth plans. Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives! We've flagged 4 risks for Bloomin' Brands. See which could impact your investment. Fair value moved from about US$8.63 to roughly US$11.32 per share. Revenue growth assumption shifted from about 1.32% to roughly 1.38%. Net profit margin expectation moved from about 3.16% to roughly 3.57%. Future P/E changed from about 8.19x to roughly 9.37x. The discount rate edged up from 12.46% to 12.54%. Narratives link Bloomin' Brands' business story to a financial forecast and fair value that adjust as new information comes in. They help you see how day to day news, guidance changes, and execution progress affect the longer term thesis. Head over to the Simply Wall St Community and follow the Narrative on Bloomin' Brands to stay up to date on: How menu simplification, value offerings like the Aussie 3 Course, and restaurant remodels are aimed at supporting guest satisfaction, traffic, and margins. The role of technology such as Ziosk tablemates, handheld devices, and AI driven scheduling in improving labor efficiency and service quality. Key risks from ongoing market share pressure, early stage turnaround efforts at Outback Steakhouse, and reliance on U.S. operations and dine in infrastructure. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include BLMN. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Itau Unibanco Holding S.A. ITUB reported recurring managerial results of R$12.4 billion ($2.42 billion) for the second quarter of 2026, which increased 7.8% year over year. Results were driven by higher operating revenues and an increase in the managerial financial margin. However, higher non-interest expenses and cost of credit remained headwinds. Operating revenues were R$47.9 billion ($9.37 billion) in the reported quarter, up 4.7% year over year. The managerial financial margin increased 5.2% year over year to R$33.5 billion ($6.54 billion). Also, commissions and fees rose 2.3% year over year to R$11 billion ($2.15 billion). Non-interest expenses totaled R$16.7 billion ($3.27 billion), up 3.1% year over year. This increase was primarily driven by higher personnel, transactional, technology, marketing, event and third-party service expenses. In the second quarter, the efficiency ratio was 37.4% compared with 38% in the year-ago quarter. A decrease in this ratio indicates improved profitability. The cost of credit charges rose 7.4% on a year-over-year basis to R$10.1 billion ($1.98 billion). As of June 30, 2026, ITUB’s total assets rose nearly 1% sequentially to R$3.23 trillion ($629.9 billion). Liabilities, including deposits, debentures, securities, borrowings and on-lending, totaled R$3 trillion ($587.4 billion), which rose nearly 1% on a sequential basis. As of the same date, Itau Unibanco’s credit portfolio, including private securities and financial guarantees provided, rose 2.7% sequentially to R$1.52 trillion ($297.2 billion). As of June 30, 2026, the Common Equity Tier 1 ratio was 12.3%, down from 13.1% as of June 30, 2025. Annualized recurring managerial return on average equity was 24.3%, up from 23.3% in the year-earlier quarter. ITUB’s second-quarter results were driven by growth in operating revenues and the managerial financial margin. The lower efficiency ratio suggests improved profitability. Growth in commissions and fees, along with a sequential increase in the credit portfolio, remains encouraging. However, higher non-interest expenses and cost of credit remain concerns. Itau Unibanco Holding S.A. price-consensus-eps-surprise-chart | Itau Unibanco Holding S.A. Quote Itau Unibanco currently carries a Zacks Rank #3 (Hold). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Deutsche Bank DB reported second-quarter 2026 earnings attributable to its shareholders of €1.64 billion ($1.87 billion), up 10.5% year over year. DB’s increased revenues across all four business segments aided results. However, higher non-interest expenses and provisions for credit losses were headwinds. UBS Group AG UBS reported a second-quarter 2026 net profit attributable to shareholders of $2.80 billion compared with $2.39 billion in the prior-year quarter. UBS’ results were driven by strong performances in the Global Wealth Management, Personal & Corporate Banking, Asset Management and Investment Bank divisions. An increase in total assets and invested assets was also encouraging. However, higher operating expenses acted as a headwind. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Itau Unibanco Holding S.A. (ITUB) : Free Stock Analysis Report Deutsche Bank Aktiengesellschaft (DB) : Free Stock Analysis Report UBS Group AG (UBS) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Revenue: EUR17.2 billion for the first half of 2026, on track to reach the full-year ambition of around EUR33 billion. Post-Tax Profit: EUR4.1 billion for the first half of 2026, the highest ever for a half year. Post-Tax ROC: 11.9%. Cost Income Ratio: 60.9%. CET1 Ratio: 13.9% at the end of Q2 2026, up 11 basis points from Q1. Leverage Ratio: 4.5% at the end of Q2 2026. Net Interest Income (NII): EUR3.6 billion in Q2 2026 across key banking book segments and other funding. Loans: Grew by EUR5 billion (1%) in Q2 2026 to EUR491 billion. Deposits: Grew by EUR12 billion (2%) in Q2 2026 to EUR698 billion. Liquidity Coverage Ratio: 140%. Net Stable Funding Ratio: 118%. High-Quality Liquid Assets: EUR237 billion at the end of Q2 2026. Asset Management AUM: Grew by EUR97 billion in Q2 2026, including record net client flows of EUR25 billion. Private Bank Client Assets: Grew by more than EUR55 billion in the first half of 2026. Warning! GuruFocus has detected 4 Warning Sign with DB. Is DB fairly valued? Test your thesis with our free DCF calculator. Release Date: July 30, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Deutsche Bank AG (NYSE:DB) reported its highest-ever half-year post-tax profit of EUR4.1 billion, with revenues of EUR17.2 billion on track to meet the full-year ambition of around EUR33 billion. The company achieved a post-tax ROC of 11.9% and improved its cost-income ratio to 60.9%, positioning it well for its 2026 and 2028 targets. All divisions delivered returns on tangible equity of 12% or higher, with Asset Management seeing record net client flows of EUR25 billion in Q2 alone. Deutsche Bank AG (NYSE:DB) has a positive fundamental rating outlook from all three major rating agencies (Fitch, S&P, Moody's), reflecting progress in transformation and earnings resilience. The bank's NII tailwind is strengthening, with approximately 90% of 2027 and 80% of 2028 NII benefits locked in through opportunistic hedging, reducing sensitivity to rate moves. Geopolitical uncertainty and potential inflation risks remain key macro concerns that could impact the operating environment and cause spread widening. The commercial real estate (CRE) portfolio, particularly the office sector on the West Coast, continues to face revaluation risks, prompting proactive de-risking measures. Increased competition for deposits in Germany, including from new US bank entrants with attractive promotional offers, could pressure deposit pricing and retention. Risk-weighted assets (RWAs) increased by EUR5 billion in Q2, driven by business growth in loans, commitments, and guaranteed funds, which could constrain capital flexibility. The upcoming call decision for a EUR AT1 bond (4.5% coupon) presents a potential refinancing challenge, as the reset coupon of roughly 7.3% is above current new issue levels. Here are the key highlights from the Deutsche Bank AG (NYSE:DB) Q2 2026 Fixed Income Earnings Call, focusing on the most significant Q&A exchanges. Q: What are the main risks, micro or macro, that could cause Deutsche Bank's credit spreads to widen from current tight levels? A: (Raja Akram, CFO) While we are confident in our franchise momentum, we are closely monitoring several risks. These include the ongoing geopolitical situation, potential upside inflation risks, and the duration of the economic shock on energy-dependent industries. In Commercial Real Estate (CRE), particularly the West Coast office sector, we are being proactive in de-risking our portfolio due to potential revaluation risks from AI's impact on office demand. We also watch the private credit space, though our lending is focused on high-quality sponsors with lower advance rates. We don't anticipate spreads staying this tight forever, which is why our business model is shifting towards more capital-light, fee-based businesses. Q: Could the large reduction in the subordinated MREL requirement drive you to target lower subordinated headroom over time? A: (Richard Stewart, Group Treasurer) The reduction in our requirements gives us more headroom and flexibility in managing our issuance plans. We are pleased with the messaging from our supervisor, as it provides more options regarding when, how, and at what tenors we issue. The extra buffer capacity is helpful as it allows us to pause issuance when market conditions or economics warrant it and issue when prices are attractive to us. This is clearly a positive development. Q: Which of the European Commission's regulatory proposals do you think could bring the largest benefit to Deutsche Bank? A: (Raja Akram, CFO) We believe Deutsche Bank would be a significant beneficiary of the proposals. On all three aspectsthe output floor, the buffers, and P2Rthe impact could be quite meaningful for us, assuming the proposals go through as we anticipate. (Richard Stewart, Group Treasurer) The direction of travel towards a more growth-based approach is welcome. While FRTB relief is important for a level playing field, the changes to transitional arrangements, particularly around unrelated corporates and mortgages, are likely the most impactful for us. Q: How are you meeting the challenge of new entrants, like a US bank, competing for deposits in Germany? A: (Raja Akram, CFO) We feel privileged to be the largest bank in a large market where there is opportunity for everyone. We avoid getting into a rate-chasing race with promotional offers. While we have seen some movement to new entrants, the impact on our overall plans has been negligible. Our own promotions have performed well, and post-promotional retention is in line with our models. Furthermore, our strong wealth management franchise in Germany provides a less price-sensitive source of deposits, giving us flexibility in our deposit pricing strategy. Q: What would it take for Deutsche Bank to rethink reentering the equities trading market? A: (Raja Akram, CFO) Our strategic decision from 2019 to exit the scale-driven business of trading equities stands. We are not going to recreate a cash equities or prime brokerage platform. However, we have retained an equity capital markets franchise as part of our global house bank strategy, which has performed well, particularly in EMEA. While the equity markets have been hot, our lack of exposure to the upside also insulates us from potential downside risks, such as high prime brokerage exposure elsewhere. We are happy with our current focus on advisory and origination. For the complete transcript of the earnings call, please refer to the full earnings call transcript.