Bank of America’s net income fell to $3.1 billion in the fourth quarter from $7.1 billion a year ago.

Wells Fargo shares fell Friday even after fourth-quarter profit rose from a year ago.

Airline stocks including Delta, United, American and Southwest were all down Friday.

JPMorgan is watched closely for clues on how banks fared amid volatile interest rates and rising loan losses.

Citigroup CEO Jane Fraser announced one of the largest moves to cut headcount at a major U.S. bank in recent years.

Disney’s animation studios have struggled to generate box-office returns recently while Universal’s Illumination and DreamWorks studios continue to deliver.

Bristol Myers Squibb said it agreed to buy biopharmaceutical company Karuna Therapeutics for $14 billion in cash.

Nike lowered its revenue outlook for the fiscal year and unveiled a plan to cut $2 billion in costs.

The health-care sector has seen a big rebound this month, and analysts say some beaten-down names will continue to have positive momentum in 2024.

Nike said the plan will cost $400 million to $450 million in pre-tax restructuring charges that will largely come to fruition in the current quarter.