China’s Huawei says 1Q sales up 39%

Business 04/21/19, 23:22

Chinese tech giant Huawei said Monday its revenue rose 39% over a year earlier in the latest quarter despite U.S. pressure on allies to shun its telecom technology as a security risk.Huawei, the biggest global maker of network equipment for phone and internet companies, on Monday reported revenue of 179.7 ...

US stock indexes head mostly lower on mixed company earnings

Business 04/18/19, 09:40

U.S. stock indexes moved mostly lower in early trading Thursday as investors weighed the latest batch of company earnings.Losses in health care, technology and financial stocks outweighed gains in industrial companies and elsewhere in the market.Drugmaker Pfizer fell 2.9%, PayPal dropped 2.8% and Regions Financial slid 3.1%.Industrial sector stocks led ...

US stock indexes edge lower in morning trading

Business 04/17/19, 09:41

Major U.S. stock indexes fell in morning trading Wednesday as losses by health care companies outweighed gains elsewhere in the market.Anthem, Cigna and UnitedHealth Group were among the biggest decliners in the health care sector for the second straight day. Investors are hammering insurers amid fears over the potential impact ...

United Airlines’ profit doubles despite shutdown, 737 woes

Business 04/16/19, 16:06

United Airlines said Tuesday that its first-quarter profit doubled to $292 million as it carried more passengers and limited costs other than fuel.The results beat Wall Street expectations for a quarter that began with the partial government shutdown, which dinged travel by federal employees, and ended with Boeing 737 Max ...

Technology companies lead early gains for US stocks

Business 04/16/19, 09:29

Stocks were higher on Wall Street in early trading Tuesday, erasing the market's modest losses from a day earlier.Technology companies led other sectors, with chipmakers among the big gainers. Health care stocks also rose as traders weighed quarterly earnings from Johnson & Johnson and UnitedHealth Group. The results from both ...

Johnson & Johnson posts strong revenue in 1Q

Business 04/16/19, 07:04

Lower sales overseas and higher costs for research and litigation pushed Johnson & Johnson's first-quarter profit down 14%, but the health care giant still beat profit and revenue expectations.The maker of Tylenol and psoriasis drug Stelara on Tuesday said unfavorable currency exchange rates reduced revenue by nearly 4%, leaving total ...

US stock indexes waver as banks fall

Business 04/15/19, 09:24

U.S. stock indexes wavered in Monday morning trading, weighed down by losses for bank stocks.Goldman Sachs dropped to one of the largest losses in the S&P 500 index after saying it's off to a "muted start to the year," though its earnings for the first quarter still beat analysts' expectations. ...

Goldman profits fall 21% from year ago, hurt by trading

Business 04/15/19, 07:28

Goldman Sachs said its first quarter earnings fell by 21% from a year earlier, hurt by a slowdown in trading.The investment bank earned a profit of $2.25 billion, or $5.71 a share, down from a profit of $2.83 billion, or $6.95 a share, in the same period a year earlier. ...

Citigroup 1Q profit rises 2%, tops estimates; revenue slips

Business 04/15/19, 07:26

Citigroup Inc. says earnings rose 2% to $4.71 billion in the first quarter of 2019.The bank, based in New York, said Monday that earnings per share were $1.87 per share, up from $1.68 a share a year earlier.The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed ...

Banks push US stocks higher after reporting solid profits

Business 04/12/19, 09:24

U.S. stocks moved broadly higher in early trading Friday on Wall Street, putting the market on track for gains at the end of a shaky week.Banks led the gains after solid quarterly profit reports from JPMorgan Chase and Wells Fargo opened the latest round of highly anticipated company earnings. Banks ...

JPMorgan’s 1Q profits rise 5%, helped by higher rates

Business 04/12/19, 06:20

JPMorgan Chase is reporting that its first-quarter profits rose 5% from a year earlier, helped largely by higher interest rates, which have allowed banks like JPMorgan to charge more for loans.The nation's largest bank by assets and profits said it earned $9.18 billion, or $2.65 per share. That's up from ...

Stocks move higher as investors wait for earnings reports

Business 04/11/19, 09:32

U.S. stocks moved slightly higher in early trading Thursday as investors prepare for the latest round of corporate earnings.Financial companies led the gains. Citigroup rose 1.1% and Prudential climbed 1.8 percent. Rising bond yields, which allow banks to charge higher interest on loans, helped lift the sector.Industrial companies also posted ...

Stocks move broadly higher, led by technology companies

Business 04/10/19, 09:26

U.S. stocks moved broadly higher in early trading Wednesday on Wall Street, reversing course from a downturn that ended an eight-day winning streak.Technology and health care companies led the gains. Microsoft and Cisco systems both rose just under 1%. Drug Developer Gilead Sciences rose 1.7%Delta Air Lines was the first ...

Delta profit surges and releases strong outlook

Business 04/10/19, 06:49

Delta is reporting a 30% profit surge from the first quarter and its outlook for the current quarter pushed company shares higher in early trading Wednesday.The Atlanta carrier earned $730 million, or $1.09 per share, for the quarter. A year earlier it earned $557 million, or 79 cents per share.Earnings, ...

Levi’s swings to 1Q profit; revenue up nearly 7%

Business 04/09/19, 15:38

Levi Strauss & Co. swung to a profit and reported a nearly 7% increase in net revenue during the company's fiscal first quarter, an indication the jeans maker's investments online and in its denim products are paying off.Tuesday's earnings report marked Levi's first since its return to the public markets ...

Samsung quarterly profit likely fell sharply as chips drop

Business 04/04/19, 22:22

Samsung Electronics Co. said Friday its operating profit for the last quarter likely fell more than 60% from a year earlier amid falling memory chip prices and slowing demand for display panels.The South Korean technology giant estimated an operating profit of 6.2 trillion won ($5.4 billion) for the January-March quarter, ...

Markets Right Now: Tech stocks lead US market indexes higher

Business 04/03/19, 08:42

The latest on developments in financial markets (all times local):9:35 a.m.Stocks are moving broadly higher on Wall Street in early trading as technology companies post some solid gains.Intel rose 1.5% early Wednesday, a day after the company named a new chief financial officer. Rival chipmaker Advanced Micro Devices jumped 7%.Dave ...

Walgreens chops forecast, misses 2Q earnings expectations

Business 04/02/19, 06:46

Walgreens slashed its 2019 forecast after falling short of expectations in what its CEO described as the most difficult quarter since the company was formed a few years ago.The nation's largest drugstore chain now expects adjusted earnings per share growth to be flat this year, compare to a previous forecast ...

US stocks move higher as investors weigh company earnings

Business 03/28/19, 09:24

Stocks rose on Wall Street in early trading Thursday as gains in banks and technology companies outweighed losses elsewhere in the market. Bond yields rose above their recent lows, giving bank stocks a boost. Higher bond yields are good for banks because they can earn more income from the bonds they ...

Tiffany posts mixed results in fourth quarter

Business 03/22/19, 08:09

Tiffany & Co. on Friday posted mixed results for the holiday season, with profit meeting estimates but revenue falling short. Shares of the company slipped 4 percent in premarket trading.The company reported fiscal fourth-quarter net income of $204.5 million. On a per-share basis, the New York-based company said it had ...

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