Biopharmaceuticals power Pfizer in the first quarter

Business 04/30/19, 06:08

Pfizer is reporting a 9% jump in first quarter profit on a strong showing from its biopharmaceutical group.The New York drugmaker on Tuesday reported earnings of $3.88 billion, or 68 cents per share. Earnings, adjusted for non-recurring costs, were 85 cents per share, far exceeding projections of 77 cents from ...

Slowing digital-ad growth could force change on Google

Business 04/30/19, 00:02

While Google has dominated the online ad market for almost the entirety of its existence, its first quarter earnings report suggests that competitors may be nipping at its heels.Investors pushed down the stock of Google's parent company, Alphabet, more than 7% in after-hours trading Monday after it reported revenue that ...

Google revenue falls short of Q1 estimates

Tech 04/29/19, 15:26

Google parent Alphabet is reporting that it beat analyst earnings expectations with a first-quarter profit of $8.3 billion. But the company's revenue fell below expectations.Alphabet is including an expected charge of $1.7 billion in the quarter's results to account for a European Union antitrust fine. Including the fine, Alphabet's profit ...

Burger King may sell plant-based burger across US this year

Business 04/29/19, 10:42

Burger King could soon be selling plant-based burgers nationwide.Restaurant Brands International, Burger King's parent, said Monday that a month-long test of the Impossible Whopper at 59 restaurants in St. Louis has gone so well that it will start testing it in additional markets. The company said it may expand sales ...

US stocks close higher as S&P 500, Nasdaq hit new highs

Business 04/26/19, 16:29

Wall Street capped a week of milestones by delivering a couple more Friday. A late-afternoon burst of buying lifted the major U.S. stock indexes, which had spent much of the day in a sideways drift. The gains nudged the benchmark S&P 500 index and Nasdaq composite to new closing highs for ...

Exxon 1Q profit and revenue misses estimates

U.S. 04/26/19, 07:16

Exxon Mobil Corp. shares slipped in premarket trading Friday after the company posted disappointing results.The company reported first-quarter profit of $2.35 billion, or 55 cents per share.The results fell short of Wall Street expectations, but Exxon does not adjust its reported results based on one-time events such as asset sales. ...

RBS first-quarter earnings down 12.5% amid Brexit worries

Business 04/26/19, 04:04

Royal Bank of Scotland says first-quarter earnings fell 12.5% as economic uncertainty linked to Brexit curtailed lending.Net income dropped to 707 million pounds ($912 million) from 808 million pounds in the same period last year as businesses delayed borrowing decisions. Britain's government owns 62.4% of RBS following a taxpayer-funded bailout ...

Asian shares fall on China stimulus worries, patchy earnings

Business 04/26/19, 03:30

Shares were mostly lower in Asia on Friday after an overnight decline on Wall Street spurred by disappointingly weak earnings reports from 3M and some other industrial companies.Concern that China may temper its economic stimulus pulled the Shanghai benchmark down 1.2% to 3,086.40. Japan's Nikkei 225 index slipped 0.2% to ...

Deutsche Bank earnings up in 1st quarter but revenues drop

Business 04/26/19, 01:22

Deutsche Bank says it saw its profit improve by 67 percent in the first quarter, though revenue dropped 9 percent as proceeds from trading declined sharply.Germany's biggest bank reported details of its January-March earnings on Friday, a day after it abandoned talks on a possible merger with German peer Commerzbank.The ...

Starbucks raises 2019 profit outlook after earnings beat

Business 04/25/19, 15:52

Starbucks Corp. is raising its profit outlook for 2019 after better-than-expected results in its most recent quarter.The Seattle-based coffee company said Thursday it earned $663.2 million, or 53 cents per share, in its fiscal second quarter, up slightly from the January-March period a year ago.Excluding one-time items, such as the ...

Ford posts better than expected results in 1Q

Business 04/25/19, 15:40

Ford earnings fell in the first quarter, but the automaker's shares rallied in extended trading as Ford said a restructuring is starting to take hold.Net income for the first three months of the year fell 34 percent to $1.15 billion, weighed down by charges totaling nearly $600 million. Adjusted profit ...

Altria 1Q earnings miss as cigarette sales continue to slide

Business 04/25/19, 11:26

Shares of Altria Group, the nation's largest tobacco company, fell Thursday after the company's earnings missed expectations on lower cigarette revenue and big expenses aimed at diversifying its business.The Richmond, Virginia-based company reported first quarter profit of $1.12 billion, or 60 cents per share. Adjusted for one-time costs and expenses ...

S&P 500 dips; weak industrials blot out shining tech stocks

Business 04/25/19, 09:59

U.S. stock indexes pulled further back from their record highs on Thursday after a cavalcade of industrial companies turned in weak earnings reports, blotting out a set of blowout results from big-name tech companies.3M, the maker of Scotch tape and various products for businesses, reported lower revenue and profit for ...

3M to cut 2,000 jobs, 1Q results miss Wall Street’s view

Business 04/25/19, 08:17

3M plans to cut 2,000 globally as part of a restructuring due to a slower-than-expected 2019.The maker of Post-it notes, industrial coatings and ceramics said Thursday that the move is expected to save about $225 million to $250 million a year. The St. Paul Minnesota-based company anticipates a pretax charge ...

Nintendo profit jumps 39% on Switch software sales

Business 04/25/19, 05:14

Japanese video game maker Nintendo Co. reported Thursday a 39% rise in profit for the fiscal year through March on healthy software sales for its popular Switch console. The Kyoto-based company behind the Super Mario and Pokemon franchises recorded a 194 billion yen ($1.7 billion) annual profit. Annual sales rose 14% ...

Microsoft’s cloud growth pleases Wall Street

Tech 04/24/19, 16:03

Microsoft's ongoing push to get automakers, retailers and other businesses onto its cloud computing platform helped power the company's third-quarter earnings ahead of Wall Street expectations Wednesday.The software maker posted fiscal third-quarter earnings of $8.8 billion, up 19% from the same period last year. The Redmond, Washington-based company said it ...

Stocks move sideways on Wall Street after record-setting day

Business 04/24/19, 10:34

U.S. stocks followed a record-setting day with more subdued trading Wednesday as investors continue digesting a steady flow of corporate earnings and a potential break in the trade war between the U.S. and China.Stocks are mostly unchanged and bond prices are rising as investors pull back into a more defensive ...

Shadow of 2 deadly crashes hangs over Boeing’s 1Q earnings

U.S. 04/24/19, 01:05

When Boeing releases first quarter results Wednesday, investors will be looking beyond profit and revenue numbers to clues about the fate of the company's best-selling plane and when it might fly again.They'll want to know how close engineers are to completing a fix to flight-control software at the center of ...

US stocks move broadly higher as earnings reports flow in

Business 04/23/19, 09:29

Stocks moved broadly higher in early trading Tuesday as companies started to report their latest financial results in force.Big names including Hasbro, Lockheed Martin and Twitter all surprised Wall Street with strong profit and revenue. Analysts are watching corporate reports closely this week as they gauge whether first quarter earnings ...

Twitter posts better than expected revenue in 1Q

Business 04/23/19, 06:30

Twitter Inc. (TWTR) on Tuesday reported first-quarter earnings of $190.8 million.On a per-share basis, the San Francisco-based company said it had net income of 25 cents. Earnings, adjusted for one-time gains and costs, came to 9 cents per share.The results fell short of Wall Street expectations. The average estimate of ...

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