Stocks move lower on mixed corporate earnings

Business 02/06/19, 10:27

A mixed bag of corporate earnings pushed stocks lower in early trading Wednesday.Video-game makers were the biggest losers early on. Take-Two Interactive and Electronic Arts plunged after releasing weak forecasts, citing tougher competition. Several chipmakers, including Skyworks Solutions, rose after reporting solid results.Snap, which operates the photo-messaging app Snapchat, soared ...

Lilly lowers 2019 forecast due to drug failure, pending deal

Business 02/06/19, 07:54

Shares of Eli Lilly slipped in early trading Wednesday after the drugmaker announced fourth-quarter earnings that missed Wall Street expectations and dropped its forecast for 2019.Lilly says it revised its outlook due to the recently announced failure of the cancer treatment Lartruvo in a late-stage clinical trial and a pending ...

Trade war, diesel troubles hold back profit at Daimler

Business 02/06/19, 04:42

Automaker Daimler said Wednesday that its fourth-quarter net profit fell 49 percent to 1.64 billion euros ($1.87 billion) as the Mercedes-Benz luxury car business was buffeted by diesel woes and global trade conflict.Revenue rose 7 percent to 46.6 billion euros and the company said demand for its products remained strong.The ...

Google parent beats Q4 estimates, stock still drops

Tech 02/04/19, 16:31

Google parent company Alphabet beat Wall Street expectations for its fourth quarter earnings Monday, although its stock slid in after-hours trading.The company reported profit of $8.9 billion on revenue of $39.3 billion.Its revenue grew more than 21 percent from $32.3 billion a year ago.Analysts polled by FactSet were expecting earnings ...

Markets Right Now: Hiring gains send stock indexes higher

Tech 02/01/19, 12:02

The latest on developments in financial markets (all times local):11:45 a.m.Stocks are moving higher on Wall Street as investors applaud the latest burst of hiring by U.S. employers.The government reported Friday that employers added 304,000 jobs last month, the most in almost a year.Exxon Mobil and Chevron rose after reporting ...

Exxon ramps up production, tops 4Q profit expectations

U.S. 02/01/19, 08:27

Exxon Mobil is easily beating profit expectations for the fourth quarter in which it ramped up production.The Irving, Texas, company posted net income of net income of $6 billion, or $1.41 per share. Earnings, adjusted for one-time gains and costs, came to $1.51 per share, which is 43 cents better ...

Merck 4Q powered by cancer treatment sales

Business 02/01/19, 07:04

Merck is reporting better than expected profits for the fourth quarter with revenue jumping 4.6 percent.The drugmaker swung to a fourth-quarter net income of $1.83 billion, or 69 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, were $1.04 per share, a penny better ...

Sony boosts profit on tax cut, yen, sales of music, movies

Entertainment 02/01/19, 02:56

Japanese electronics and entertainment company Sony posted a 45 percent surge in its October-December profit thanks to tax cuts, a favorable exchange rate and gains in its music and movies segment.Tokyo-based Sony Corp.'s profit in the last quarter was 429 billion yen ($3.9 billion), up from 295.9 billion yen in ...

Amazon has another ‘Prime’ holiday: Profit tops $3 billion

Business 01/31/19, 19:25

Amazon had another strong holiday season: Its quarterly profit topped $3 billion for the first time as revenue grew across many of its businesses, including online shopping, advertising and cloud computing.The company, however, issued an estimate for the current quarter's revenue that was below what Wall Street analysts expected, sending ...

Huawei rival Nokia profits from demand for 5G networks

Europe 01/31/19, 11:40

Telecoms gear provider Nokia reported Thursday a rise in fourth-quarter earnings thanks to strong demand for new-generation mobile networks, the so-called 5G systems that have been the focus of a high-stakes dispute between the U.S. government and Nokia rival Huawei.Nokia's net profit for the October-December rose to 741 million euros ...

Stocks are uneven on a mix of corporate earnings

Business 01/31/19, 10:32

Stocks are off to a mixed start on Wall Street Thursday following a mixed bag of corporate earnings and as concerns linger over trade and economic growth. Facebook jumped after reporting solid results for its fourth quarter, helping to lift the Nasdaq composite. General Electric soared after reporting growth in key ...

GE shares rise as company reports profit, settlement

Business 01/31/19, 09:19

After years of belt-tightening and spinoffs that ate into revenue and profits, General Electric Co. reported fourth-quarter net income of $761 million, sending shares up 10 percent n premarket trading.The company also reached a $1.5 billion settlement with the Department of Justice over its subprime mortgage business before the 2008 ...

Frantic holiday shipping fuels UPS 4Q

Business 01/31/19, 07:48

A monster holiday season with more Americans shipping gifts fueled UPS profits during the fourth quarter.Operating profit grew 6.3 percent, the company said Thursday, pushing net income up to $453 million, or 52 cents per share. Earnings, adjusted for non-recurring costs, were $1.94 per share, or 3 cents better than ...

Nintendo’s quarterly profit rises on hit Switch games

Business 01/31/19, 03:38

Nintendo, the Japanese video game maker behind the Super Mario and Pokemon franchises, is reporting a 25 percent jump in its fiscal third quarter profit, boosted by the popularity of games for its Switch console. Nintendo Co. reported on Thursday that its October-December profit was 104.2 billion yen ($956 million), up ...

Facebook reports robust profit, revenue gains; stock rises

Business 01/30/19, 19:06

Facebook reported robust earnings and revenue that handily surpassed Wall Street expectations for the final quarter of 2018 despite heavy spending on safety and security. Facebook said Wednesday that it earned $6.9 billion, or $2.38 per share, in the October-December period. That's up 61 percent from $4.3 billion, or $1.44 per ...

Microsoft cloud push powers ongoing growth

Tech 01/30/19, 18:03

Microsoft's ongoing growth as a provider of cloud computing services helped drive its fiscal second-quarter net income of $8.42 billion, an improvement after a loss in the same period a year earlier.The Redmond, Washington-based company said Wednesday it had profit of $1.08 per share. Earnings, adjusted for pretax expenses, were ...

Insurer Anthem unveils better-than-expected 2019 forecast

Business 01/30/19, 08:44

The Blue Cross-Blue Shield insurer Anthem topped fourth-quarter earnings expectations and debuted a better-than-expected 2019 forecast, helped by an early start for its prescription drug coverage business.Shares of the nation's second-largest health insurer soared after Anthem said it expected adjusted earnings in the new year to be better than $19 ...

McDonald’s logs strong growth globally

Business 01/30/19, 08:20

McDonald's is reporting strong global growth in sales at established locations and it's topped expectations for both profit and revenue.The world's biggest hamburger chain on Wednesday reported fourth-quarter earnings of $1.42 billion, or $1.82 per share.Adjusted for one-time gains and costs, came to $1.97 per share, which is 7 cents ...

Boeing soars and lifts markets with it

Business 01/30/19, 07:58

Boeing is reporting annual revenue of more than $100 billion for the first time and shares are soaring after the company easily beat Wall Street's profit and sales expectations for the fourth quarter.The big numbers from the plane maker, which is heavily exposed to trade standoff between the U.S. and ...

Siemens profit falls on taxes, lower demand for turbines

Business 01/30/19, 02:18

Germany's Siemens AG says net profit fell by half in the most recent quarter, to 1.12 billion euros ($1.28 billion), as the company saw higher taxes and falling demand for its big-ticket power turbines.Net profit for the quarter ending Dec. 31, the company's fiscal first, was off 49 percent from ...

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