Bank stocks fall after earnings beats, AT&T CEO says he'll keep title, Walmart gains

Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.

Big banks—including JPMorgan Chase (JPM), Wells Fargo (WFC) and Citigroup (C)—reported earnings that beat expectations but their shares are falling in early trading because of lower trading revenue and as JPMorgan lowered its outlook for net interest income.

AT&T (T) CEO Randall Stephenson tells CNBC that a Bloomberg story is “full of speculation” and that he won’t be dropping the CEO title after the company buys Time Warner (TWX). Bloomberg reported Stephenson will drop his CEO title and become executive chairman, overseeing a pair of CEOs, one who will oversee telecom and one who will oversee media.

In the auto sector, Fiat Chrysler (FCA) is recalling 1.3 million vehicles because of potential fire risks and an airbag glitch. The problem affects seven models sold between 2011 and 2015 here in North America and also overseas. No injuries related to the recall have been reported.

Walmart (WMT) is getting a boost this morning after Goldman Sachs upgraded the stock to buy and added the retail giant to its conviction buy list.  The firm isn’t too worried about competition from Amazon. In fact, it thinks Walmart has the scale to undertake big investments in technology and e-commerce.

And a big win in the pharmaceutical industry: Mylan (MYL) shares are higher after the company announced that an FDA advisory committee voted unanimously to recommend approval for its generic breast cancer drug. The FDA is not required to follow the advisory committee’s recommendation, although it generally does.

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