CVS gets a 3Q booster shot from Aetna as revenue soars

Business 11/06/19, 11:18

CVS Health revenue surged in the third quarter as the drugstore chain and pharmacy benefits manager added health insurance and pushed ahead with a plan to change how many of its stores operate. The company said Wednesday its roughly $69 billion acquisition of the insurer Aetna helped its top line climb ...

Japan’s SoftBank tumbles into losses over costly investments

Business 11/06/19, 05:10

Japanese technology company SoftBank Group Corp. tumbled into losses in the last quarter as its earnings were hammered by money-losing investments, including a bailout for office-space sharing startup WeWork. SoftBank's founder, Masayoshi Son, said he was regretting "mistaken investment moves." He said the situation at WeWork was under control, and he ...

No-sugar drinks and innovations power Coke in 3Q

Business 10/18/19, 06:36

Coca-Cola reported strong third quarter sales as it makes strides with new drinks like Coca-Cola Plus Coffee and no-sugar drinks. Revenue jumped 8% to $9.51 billion, edging out Wall Street expectations for $9.48 billion, according to a survey by Zacks Investment Research. The Atlanta company continues to book double-digit volume growth with ...

J.C Penney and Kohl’s struggle in fiscal 1st quarter

Business 05/21/19, 08:33

J.C. Penney and Kohl's struggled during the start of the year, raising concern about the challenges for the department store industry ahead. Penney reported a wider than expected loss and sales declines during the first quarter while Kohl's cut its fiscal 2020 profit outlook as it struggled with slumping sales in ...

Home Depot posts strong profit, revenue

Business 05/21/19, 06:53

Home Depot is reporting better than expected profit and revenue for the first quarter despite a damp start to 2019.That inclement weather and an extra week in the previous fiscal year dampened the home improvement retailer's comparable store sales.Comparable store sales, a key gauge of a retailer's health, increased 2.5%, ...

1Q Earnings Wrap: When nothing is better

Business 05/16/19, 11:19

Behold the power of low expectations.Nearly all the companies in the S&P 500 have said how much profit they made in the first three months of the year, and growth looks to be close to nil. That's usually a frightening thing for investors because stock prices tend to follow the ...

Walmart same store sales growth continues

Business 05/16/19, 06:25

Walmart is posting another quarter of same-stores sales growth and profits topped Wall Street expectations.The company on Thursday reported first quarter net income of $3.84 billion, or $1.33. Earnings, adjusted for non-recurring gains, came to $1.13 per share. That beat per-share earnings projections by 11 cents, according to a survey ...

Hit with arrest of ex-chair Ghosn, Nissan profit nose-dives

Business 05/14/19, 05:16

Japanese automaker Nissan, reeling from the arrest of its former chairman Carlos Ghosn, reported Tuesday that annual profit nose-dived to less than half of what it earned the previous year, and forecast even dimmer results going forward.Nissan Motor Co.'s profit for the fiscal year ended March totaled 319.1 billion yen ...

This Week: Cisco Systems and Deere results, housing starts

Business 05/13/19, 10:01

A look at some of the key business events and economic indicators upcoming this week:PLUGGED INCisco Systems serves up its fiscal third quarter results Wednesday.Wall Street expects the seller of networking equipment and services will report that its earnings and revenue increased in the February-April period versus a year earlier. ...

Toyota sees slight quarterly profit fall, projects recovery

Business 05/08/19, 01:19

Japan's top automaker Toyota said Wednesday its profit for January-March fell 4% as vehicle sales lagged in North America.Toyota Motor Corp. recorded a quarterly profit of 459.5 billion yen, or $4.2 billion, down from 480.8 billion yen in the same period the previous year. Quarterly sales rose 2% to 7.75 ...

Lyft posts strong growth, big losses in first public quarter

Business 05/07/19, 15:17

Ride-hailing company Lyft is reporting strong revenue growth but substantial losses in its first quarterly earnings report since its rocky stock market debut.Lyft posted revenue of $776 million for the first quarter of 2019, nearly double what it made the same time last year.But the San Francisco-based company lost $1.1 ...

BMW profit hit by anti-trust case, spending on technology

Business 05/07/19, 03:47

BMW lost money making cars in the first quarter as its automotive division was hit by a 1.4 billion-euro ($1.6 billion) set-aside for an anti-trust fine from the European Commission and by higher up-front costs for new technology and factories.The fine and investment spending, along with weaker pricing in some ...

Fiat Chrysler expects improvements after weak first quarter

Europe 05/03/19, 09:58

Carmaker Fiat Chrysler Automobiles on Friday reported a 47% drop in profits for the first quarter of the year due largely to changes in production, but expressed confidence that new models will help the U.S.-Italian company meet full-year profit targets.Net profits fell to 508 million euros ($567 million) from 951 ...

Solid jobs report, earnings push stocks broadly higher

Business 05/03/19, 09:26

U.S. stocks moved broadly higher in early trading on Wall Street Friday and are on track to bounce back after a two-day slide.Major indexes, including the S&P 500, are still heading for weekly losses. First quarter company earnings have come in mixed so far, but they have been good enough ...

Stocks edge higher on mixed bag of corporate earnings

Business 05/02/19, 09:41

Stocks edged slightly higher in early trading Thursday on Wall Street while investors assessed a mix of corporate earnings.Solid earnings results from several insurance companies helped lift financial stocks. MetLife and Allstate both posted gains. Technology stocks were also rising, pushed by solid earnings from chipmaker Qualcomm.Energy stocks and consumer ...

Big moves by Apple, CVS help drive US stock indexes higher

Business 05/01/19, 11:08

Stocks moved broadly higher in midday trading on Wall Street Wednesday as large U.S. companies continued to surprise investors with solid profits.Earnings reporting season is more than a third of the way through and the results have been tempering investors' worst fears about a severe profit slump. Earnings are down ...

CVS beats all around and ups expectations for the year

Business 05/01/19, 06:21

CVS Health is reporting a 42% spike in profits during the first quarter and it's raising its outlook for the year.The drug store chain posted earnings of $1.42 billion, or $1.09 per share. Earnings, adjusted for one-time gains and costs, were $1.62 per share, which is 12 cents better than ...

Apple’s fiscal 2Q revenue, profit sag amid iPhone slump

Business 04/30/19, 15:49

Weak iPhone demand is still causing Apple's overall sales to shrink, despite the company's effort to emphasize services designed to bring in a steady flow of money from its 1.4 billion devices still in use.Revenue for the January-March quarter fell 5% from the same time in 2017 to $58 billion, ...

Revenue slowdown at Alphabet helps drag US stocks lower

Business 04/30/19, 09:45

U.S. stocks were moving lower early Tuesday, dragged down by big communications companies after Google's parent company, Alphabet, reported a slowdown in revenue growth.Alphabet is one of many huge U.S. companies to report their results this week, giving investors plenty to focus on. For the most part, the first-quarter earnings, ...

McDonald’s turns to bacon and wins (surprise, surprise)

Business 04/30/19, 07:25

McDonald's turned to a sure thing in the first quarter, bacon, and it's paying off.The world's biggest burger chain on Tuesday reported a first quarter profit of $1.33 billion, or $1.72 per share. Earnings, adjusted for pretax expenses, came to $1.78 per share, which is a nickel better than industry ...

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