Allegri confident he can again match Conte’s title-winning standard after taking over at Napoli

New Napoli coach Massimiliano Allegri is confident of successfully following in Antonio Conte’s footsteps.

After all, he's done it before.

Allegri replaced Conte at Juventus in 2014, after Conte steered the Bianconeri to three Serie A titles. Allegri went on to win five straight at Juventus as well as guiding the team to four Italian Cup titles and two Champions League finals.

Conte left Napoli in May after two years in charge, during which his team finished first and second in the Italian league. Allegri, who was fired by AC Milan at the end of the season, was confirmed as his successor at the beginning of July and was given a three-year contract.

“I am inheriting a squad that is certainly accustomed to hard work,” Allegri said on Tuesday, in his first press conference as Napoli coach. “Conte has proven his worth throughout his career. I’m lucky, this is actually the second time I’ve inherited Antonio’s team — let’s hope it’s a good omen.

“It will be important to work with seriousness and professionalism, and above all to lay the groundwork for reaching March — as I always say that’s when seasons are decided — still in contention for all our objectives: Serie A, the Champions League, the Italian Cup.”

Allegri was fired by Milan after what the club’s owners deemed “an unequivocal failure” of a season. Despite spending much of the campaign in the top two positions and fighting for the title, a run of only two wins in Milan’s last eight matches dropped it to fifth on the last day of the season.

“It’s not a question of redemption; sometimes seasons just end a certain way. I’m disappointed by how things turned out last season,” Allegri said. “We were in the top three from Matchday 2 through Matchday 37; we only dropped out on the first and last matchdays, and the last one is the one that counts.

“I’m disappointed because, in all my time coaching — at Juventus and Milan — this was the first time I’ve finished outside the top four. And I won’t deny that it’s weighed on me.”

Milan replaced Allegri with Ruben Amorim, and at the Portuguese coach’s presentation team owner Gerry Cardinale referred to him as a coach who plays to win, rather than playing not to lose.

“I absolutely do not comment on the ownership’s words,” Allegri said. “I can only thank those who supported me all season.

“Then, unfortunately, we are sorry for the missed objectives, but another year begins, beautiful to experience, we have three competitions and we start with great enthusiasm.”

AP soccer: https://apnews.com/hub/soccer

FILE -AC Milan's head coach Massimiliano Allegri reacts during the Serie A soccer match between AC Milan and Cagliari, in Milan, Italy, May 24, 2026. (AP Photo/Antonio Calanni, File)

The new SSC Napoli coach, Massimiliano Allegri, left, holds a club's jersey with club president Aurelio De Laurentiis, during a presentation press conference at the San Carlo Theater, in Naples, Italy, Tuesday, July 14, 2026. (Alessandro Garofalo/LaPresse via AP)

The new SSC Napoli coach, Massimiliano Allegri, left, pictured with club president Aurelio De Laurentiis, during a press conference at the San Carlo Theater, in Naples, Italy, Tuesday, July 14, 2026. (Alessandro Garofalo/LaPresse via AP)

The new SSC Napoli coach, Massimiliano Allegri, right, holds a club's jersey with club president Aurelio De Laurentiis, during a presentation press conference at the San Carlo Theater, in Naples, Italy, Tuesday, July 14, 2026. (Alessandro Garofalo/LaPresse via AP)

WASHINGTON (AP) — JPMorgan Chase said Tuesday that it logged $16.9 billion in second-quarter profit as its equities trading division again took advantage of market volatility triggered by the war in Iran.

The nation's largest bank by asset size, JPMorgan said that revenue in every line of its business hit record levels in the quarter, including its markets division, where revenue grew 35% over the same period last year. Revenue in its equity markets division skyrocketed 86%.

JPMorgan earned $6.14 per share in the period, beating analyst estimates of $5.59 per share and 2025's $5.24. Managed revenue came in at $58 billion, also topping the estimates of analysts surveyed by FactSet.

JPMorgan shares were down 2.4% before the opening bell.

CEO Jamie Dimon said that revenue from the New York bank's investment banking division rose 30%, accelerating to the highest level since 2021 as the thirst for initial public offerings and mergers and acquisitions remained strong.

Investment research analysts are forecasting that both merger and acquisitions and IPOs to continue at a blistering pace through 2026.

While volatile markets can cause anxiety for individual investors, high-speed Wall Street trading desks can take advantage of the wild gyrations. Big swings in markets tend to increase activity on trading desks, leading to higher commissions and fee revenue for the banks.

Wells Fargo also reported its second-quarter results on Tuesday, posting a 22% jump in net income over the same period last year. Wells said it earned $6.4 billion in the period, or $2 per share, up from $5.5 billion a year ago. Revenue of $22.6 billion also topped estimates.

Wells CEO Charlie Scharf said the San Francisco bank was benefiting from a strong economy and its newly unleashed ability to invest after years of government oversight. Wells’ said its investment banking revenue grew 20% from last year and markets revenue was up 24%.

“After years of not being on a level playing field with our competitors because we couldn’t grow our balance sheet, we are carefully deploying capital to grow and support our clients by taking risks that we think are prudent through economic cycles, not just the strong environment we see today,” Scharf said.

Shares of Wells Fargo fell 1.8% in premarket.

FILE - The Bank of America logo is seen on a branch office, Oct. 14, 2022, in Boston. (AP Photo/Michael Dwyer, File)

FILE- In this May 17, 2018, file photo the logo for Wells Fargo appears above a trading post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File)

FILE - In this Monday, Oct. 21, 2013, file photo, the JPMorgan Chase & Co. logo is displayed at their headquarters in New York. (AP Photo/Seth Wenig, File)