11:59 AM EDT, 07/12/2024 (MT Newswires) -- All three major US stock indexes were up in midday trading Friday as the big banks kicked off Q2 earnings season earlier in the day.

In company news, JPMorgan Chase ( JPM ) reported Q2 earnings Friday of $6.12 per diluted share, up from $4.75 a year earlier and above the Capital IQ consensus analyst estimate of $4.51. Second-quarter net revenue was $50.20 billion, up from $41.31 billion in the year-ago period and above the Capital IQ consensus estimate of $45.66 billion. Shares of JPMorgan ( JPM ) were down 0.1% around midday.

Wells Fargo ( WFC ) reported Q2 earnings Friday of $1.33 per diluted share, up from $1.25 a year earlier and besting the Capital IQ consensus analyst estimate of $1.28. Second-quarter revenue, expressed as the sum of net interest income and total noninterest income, was $20.69 billion, up from $20.53 billion in the year-ago period and above the Capital IQ consensus estimate of $20.23 billion. The company said it continues to expect its 2024 net interest income to be about 7% to 9% lower than its 2023 level of $52.4 billion, and it currently expects it "to be in the upper half of the range," or down 8% to 9%. Wells Fargo ( WFC ) increased its 2024 noninterest expense guidance to about $54.0 billion from about $52.6 billion. Wells Fargo ( WFC ) shares were down 6.8%.

Citigroup ( C ) reported Q2 earnings Friday of $1.52 per diluted share, up from $1.33 a year earlier and above the Capital IQ consensus analyst estimate of $1.41. Second-quarter net revenue was $20.14 billion, up from $19.44 billion in the year-ago period and above the Capital IQ consensus estimate of $20.09 billion. Citigroup ( C ) shares were down 1.7%.

Bank of New York Mellon ( BK ) reported Q2 adjusted earnings Friday of $1.51 per diluted share, up from $1.38 a year earlier and above the Capital IQ consensus analyst estimate of $1.43. Second-quarter revenue was $4.60 billion, up from $4.50 billion a year ago and above the Capital IQ consensus estimate of $4.52 billion. The bank raised its quarterly common stock dividend to $0.47 per share from $0.42, payable on Aug. 2 to shareholders of record as of July 22. Bank of New York Mellon ( BK ) shares were up 4.9%.

AT&T ( T ) said Friday that customer data was illegally downloaded from its workspace on a third-party cloud platform in April and it is working with authorities to arrest those involved in the breach. The company also said it launched an investigation into the incident, which showed that the compromised data includes records of calls and texts of nearly all of its cellular customers, customers of mobile virtual network operators using its wireless network and landline operators who interacted with those cellular numbers between May 1, 2022, and Oct. 31, 2022. The compromised data also included Jan. 2, 2023, records for "a very small number of customers," the company said. The downloaded records identify phone numbers but do not contain the content of calls or texts or personal information, AT&T ( T ) said. Shares of the company were down 0.3%.

ConocoPhillips ( COP ) and Marathon Oil ( MRO ) said Friday that they each received a second request from the US Federal Trade Commission for more information regarding their proposed merger. The second request, which they both received Thursday, extended the waiting period imposed by anti-trust laws until 30 days after they have largely complied with the request, the companies said, adding they continue to collaborate with the FTC and continue to expect to complete the merger in Q4. Shares of ConocoPhillips ( COP ) and Marathon were both down 0.5%.

Unilever ( UL ) intends to cut one-third of all of its office jobs in Europe by the end of next year, the Financial Times reported Friday, citing a company-wide call, the details of which were shared with it. As many as 3,200 roles in Europe would be cut by the end of 2025, as the company faces pressure to boost growth from shareholders, including activist investor Nelson Peltz, according to the report. Unilever ( UL ) shares were up 1.7%.

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