This study presents a comparative analysis of deep learning methodologies such as BERT, FinBERT and ULMFiT for sentiment analysis of earnings call transcripts. The objective is to investigate how Natural Language Processing (NLP) can be leveraged to extract sentiment from large-scale financial transcripts, thereby aiding in more informed investment decisions and risk management strategies. We examine the strengths and limitations of each model in the context of financial sentiment analysis, focusing on data preprocessing requirements, computational efficiency, and model optimization. Through rigorous experimentation, we evaluate their performance using key metrics, including accuracy, precision, recall, and F1-score. Furthermore, we discuss potential enhancements to improve the effectiveness of these models in financial text analysis, providing insights into their applicability for real-world financial decision-making.

Elon Musk launched a 97.4 billion bid to take control of OpenAI. The Wall Street Journal reported a group of investors led by Musk's xAI submitted an unsolicited offer to the company's board of directors on Monday. The group wants to buy the nonprofit that controls OpenAI's for-profit arm. When asked for comment, an OpenAI spokesperson pointed Engadget to an X post from CEO Sam Altman. "No thank you but we will buy twitter for 9.74 billion if you want," Altman wrote on the social media platform Musk owns.

Donald Trump may be pleased enough with Elon Musk, but even as the Tesla CEO is exercising his newfound power to essentially undo whole functions of the federal government, he still has to reassure his investors. Lately, Musk has delivered for them in one way: The value of the company's shares has skyrocketed since Trump was reelected to the presidency of the United States. But Musk had much to answer for on his recent fourth-quarter earnings call--not least that in 2024, Tesla's car sales had sunk for the first time in a decade. Profits were down sharply too. Usually, when this happens at a car company, the CEO issues a mea culpa, vows to cut costs, and hypes vehicles coming to market soon.

Large language models (LLMs) excel at generating human-like responses but often struggle with interactive tasks that require access to real-time information. This limitation poses challenges in finance, where models must access up-to-date information, such as recent news or price movements, to support decision-making. To address this, we introduce Financial Agent, a knowledge-grounding approach for LLMs to handle financial queries using real-time text and tabular data. Our contributions are threefold: First, we develop a Financial Context Dataset of over 50,000 financial queries paired with the required context. Second, we train FinBloom 7B, a custom 7 billion parameter LLM, on 14 million financial news articles from Reuters and Deutsche Presse-Agentur, alongside 12 million Securities and Exchange Commission (SEC) filings. Third, we fine-tune FinBloom 7B using the Financial Context Dataset to serve as a Financial Agent. This agent generates relevant financial context, enabling efficient real-time data retrieval to answer user queries. By reducing latency and eliminating the need for users to manually provide accurate data, our approach significantly enhances the capability of LLMs to handle dynamic financial tasks. Our proposed approach makes real-time financial decisions, algorithmic trading and other related tasks streamlined, and is valuable in contexts with high-velocity data flows.

MarketSenseAI is a novel framework for holistic stock analysis which leverages Large Language Models (LLMs) to process financial news, historical prices, company fundamentals and the macroeconomic environment to support decision making in stock analysis and selection. In this paper, we present the latest advancements on MarketSenseAI, driven by rapid technological expansion in LLMs. Through a novel architecture combining Retrieval-Augmented Generation and LLM agents, the framework processes SEC filings and earnings calls, while enriching macroeconomic analysis through systematic processing of diverse institutional reports. We demonstrate a significant improvement in fundamental analysis accuracy over the previous version. Empirical evaluation on S\&P 100 stocks over two years (2023-2024) shows MarketSenseAI achieving cumulative returns of 125.9% compared to the index return of 73.5%, while maintaining comparable risk profiles. Further validation on S\&P 500 stocks during 2024 demonstrates the framework's scalability, delivering a 33.8% higher Sortino ratio than the market. This work marks a significant advancement in applying LLM technology to financial analysis, offering insights into the robustness of LLM-driven investment strategies.

Apple slightly beat analysts' expectations in its first-quarter earnings for fiscal year 2025 on Thursday. The iPhone-maker's revenue rose by 4%, coming in at 124.30bn, barely above estimates of 124.12bn. Earnings per share were 2.40, just ahead of analysts' expectations of 2.35. Shares rose more than 8% in extended trading after Apple's CEO, Tim Cook, indicated in an earnings call on Thursday that the company was on the trajectory for revenue growth next quarter. Investors have been concerned about decreasing iPhone sales in China, the world's biggest smartphone market, as domestic rivals like Huawei have grown.

FinanceQA is a testing suite that evaluates LLMs' performance on complex numerical financial analysis tasks that mirror real-world investment work. Despite recent advances, current LLMs fail to meet the strict accuracy requirements of financial institutions, with models failing approximately 60% of realistic tasks that mimic on-the-job analyses at hedge funds, private equity firms, investment banks, and other financial institutions. The primary challenges include hand-spreading metrics, adhering to standard accounting and corporate valuation conventions, and performing analysis under incomplete information - particularly in multi-step tasks requiring assumption generation. This performance gap highlights the disconnect between existing LLM capabilities and the demands of professional financial analysis that are inadequately tested by current testing architectures. Results show that higher-quality training data is needed to support such tasks, which we experiment with using OpenAI's fine-tuning API.

Significant progress has been made in automated problem-solving using societies of agents powered by large language models (LLMs). In finance, efforts have largely focused on single-agent systems handling specific tasks or multi-agent frameworks independently gathering data. However, multi-agent systems' potential to replicate real-world trading firms' collaborative dynamics remains underexplored. TradingAgents proposes a novel stock trading framework inspired by trading firms, featuring LLM-powered agents in specialized roles such as fundamental analysts, sentiment analysts, technical analysts, and traders with varied risk profiles. The framework includes Bull and Bear researcher agents assessing market conditions, a risk management team monitoring exposure, and traders synthesizing insights from debates and historical data to make informed decisions. By simulating a dynamic, collaborative trading environment, this framework aims to improve trading performance. Detailed architecture and extensive experiments reveal its superiority over baseline models, with notable improvements in cumulative returns, Sharpe ratio, and maximum drawdown, highlighting the potential of multi-agent LLM frameworks in financial trading. More details on TradingAgents are available at https://TradingAgents-AI.github.io.

Complex table question answering (TQA) aims to answer questions that require complex reasoning, such as multi-step or multi-category reasoning, over data represented in tabular form. Previous approaches demonstrated notable performance by leveraging either closed-source large language models (LLMs) or fine-tuned open-weight LLMs. However, fine-tuning LLMs requires high-quality training data, which is costly to obtain, and utilizing closed-source LLMs poses accessibility challenges and leads to reproducibility issues. In this paper, we propose Multi-Agent Collaboration with Tool use (MACT), a framework that requires neither closed-source models nor fine-tuning. In MACT, a planning agent and a coding agent that also make use of tools collaborate to answer questions. Our experiments on four TQA benchmarks show that MACT outperforms previous SoTA systems on three out of four benchmarks and that it performs comparably to the larger and more expensive closed-source model GPT-4 on two benchmarks, even when using only open-weight models without any fine-tuning. We conduct extensive analyses to prove the effectiveness of MACT's multi-agent collaboration in TQA.

Recent advancements have underscored the potential of large language model (LLM)-based agents in financial decision-making. Despite this progress, the field currently encounters two main challenges: (1) the lack of a comprehensive LLM agent framework adaptable to a variety of financial tasks, and (2) the absence of standardized benchmarks and consistent datasets for assessing agent performance. To tackle these issues, we introduce \textsc{InvestorBench}, the first benchmark specifically designed for evaluating LLM-based agents in diverse financial decision-making contexts. InvestorBench enhances the versatility of LLM-enabled agents by providing a comprehensive suite of tasks applicable to different financial products, including single equities like stocks, cryptocurrencies and exchange-traded funds (ETFs). Additionally, we assess the reasoning and decision-making capabilities of our agent framework using thirteen different LLMs as backbone models, across various market environments and tasks. Furthermore, we have curated a diverse collection of open-source, multi-modal datasets and developed a comprehensive suite of environments for financial decision-making. This establishes a highly accessible platform for evaluating financial agents' performance across various scenarios.