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 ...

Stocks open slightly higher on upbeat earnings, forecasts

Business 01/29/19, 10:37

Stocks are opening slightly higher on Wall Street after several large U.S. companies released upbeat fourth-quarter results and forecasts.The results come amid a busy week for corporate earnings and as several global trade and domestic policy issues overhang the market. Xerox and 3M rose after reporting solid results, but Harley-Davidson ...

Weak outlook from Pfizer overshadows 4Q performance

Business 01/29/19, 07:09

Pfizer's strong profit for the fourth quarter is being overshadowed by a tepid outlook for the year.The drugmaker on Tuesday had a loss of $394 million, or 7 cents per share. Adjusted for non-recurring costs and costs related to mergers and acquisitions, however, per-share earnings were 64 cents per share, ...

Caterpillar swings to 4Q profit, but still falls short

Business 01/28/19, 08:41

Caterpillar returned to profitability in the fourth quarter, but sales have begun to slow in China and earnings failed to measure up to expectations on Wall Street.Shares tumbled 6 percent before the opening bell, weighing heavily on the Dow Jones industrial average.It's a meager start to what will be a ...

Stocks move higher on upbeat earnings, forecasts

Business 01/25/19, 10:36

Stocks opened higher Friday after several companies reported solid earnings and upbeat forecasts. Technology companies and consumer-focused companies were leading the gains.Optimism over economic growth is boosting industrial and energy companies, along with makers of basic materials.KEEPING SCORE: The S&P 500 index rose 23 points, or 0.9 percent to 2,666 ...

Starbucks posts better-than-expected profit in fiscal 1Q

Business 01/24/19, 16:23

Starbucks Corp. says earnings and revenue beat estimates in its fiscal first quarter.The Seattle-based company said Thursday it earned $760.6 million, or 61 cents per share. Earnings, adjusted for non-recurring costs, were 75 cents per share.The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks ...

Stocks edge higher in early trading, led by airlines, tech

Europe 01/24/19, 10:29

Stocks are edging higher in early trading Thursday as investors react to the latest fourth-quarter earnings reports from corporate America. American Airlines is rallying after it beat analysts' expectations, while spice maker McCormick is sinking. Technology companies are climbing.The European Central Bank confirmed that it plans to leave interest rates ...

American Airlines puts up strong profit in 4Q

Texas 01/24/19, 07:46

American Airlines reporting better than expected profit for the fourth-quarter.The world's largest airline on Thursday posted net income of earnings of $319 million, or 69 cents per share. Earnings, adjusted for non-recurring costs, came to $1.04 per share, or 2 cents better than expected, according to a poll by Zacks ...

Asian shares buoyed by US earnings, upbeat talk on China

World 01/24/19, 01:51

Asian stocks were mostly higher on Thursday as positive U.S. earnings reports reassured investors that the world's largest economy was on track. Comments by a top Chinese official buoyed trading too, but poor Japanese data for the second straight day weighed on the Nikkei 225 index.KEEPING SCORE: The Shanghai Composite ...

Asian shares buoyed by US earnings, upbeat talk on China

Business 01/23/19, 23:31

Asian stocks were mostly higher on Thursday as positive U.S. earnings reports reassured investors that the world's largest economy was on track. Poor Japanese data for the second straight day weighed on the Nikkei 225 index.KEEPING SCORE: The Shanghai Composite index gained 0.5 percent to 2,594.18 and South Korea's Kospi ...

Markets Right Now: Stocks turn higher on strong earnings

Business 01/23/19, 09:44

The latest on developments in financial markets (all times local):____9:35 a.m.Stocks are rising at the opening bell following solid results from a string of companies including IBM and Procter & Gamble.Technology and consulting company IBM rose 7.2 percent Wednesday after it topped Wall Street's expectations in the fourth quarter. Consumer ...

Comcast loses cable users, but internet subscribers rise

Business 01/23/19, 07:25

Comcast continues to lose its U.S. cable customers, but racked up more internet subscribers and got a revenue boost from Sky, its big bet on European TV.The Philadelphia company said Wednesday that it had fourth-quarter net income of $2.51 billion, or 55 cents per share. Earnings, adjusted for pretax expenses, ...

Johnson & Johnson puts up strong profit and revenue in 4Q

Business 01/22/19, 07:14

Johnson & Johnson is reporting better than expected profit and revenue for the fourth quarter on strong sales of cancer treatments.The company on Tuesday reported net income of $3.04 billion after a loss in the same period last year.Per-share earnings were $1.12. Earnings, adjusted for one-time gains and costs, came ...

Netflix’s solid 4Q eclipsed by projected slowing US growth

Tech 01/17/19, 17:24

Netflix's video streaming service added in more subscribers than ever during the crucial holiday season, but the company signaled its growth is slowing in the U.S. as it begins to roll out double-digit price increases in its biggest market.The slightly disappointing forecast issued Thursday for the opening three months of ...

CSX delivers quarterly profit in line with Wall Street views

U.S. 01/16/19, 17:38

CSX Corp. delivered a fourth-quarter profit of $843 million, which was lower than last year when tax reforms were approved but in line with Wall Street expectations.The Jacksonville, Florida-based railroad said Wednesday it earned $1.01 per share net income in the quarter that ended Dec. 31. That's down from last ...

US stock indexes climb following strong bank earnings

Business 01/16/19, 10:33

U.S. stocks are rising further Wednesday morning following strong results from major banks including Goldman Sachs and Bank of America.Technology and consumer-focused companies also traded higher. The British pound rose and Britain's FTSE 100 stock index slipped after Parliament rejected the Brexit deal negotiated by Prime Minister Theresa May and ...

Goldman 4Q profit, revenue top Wall Street expectations

Business 01/16/19, 07:59

Goldman Sachs Group says fourth-quarter net income totaled $2.54 billion, after reporting a loss in the same period a year earlier.The company said Wednesday it had earnings of $6.04 per share.The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings ...

Bank of America profits jump on higher interest rates

Business 01/16/19, 07:20

Bank of America is reporting that its fourth-quarter profits rose by 39 percent on an adjusted basis, helped by last year's steady rise in interest rates as well as a lower tax rate.The Charlotte-based banking giant said it earned $7.28 billion, or 70 cents a share. That's compared to $2.37 ...

Tepid outlook overshadows strong Delta profit in 4Q

Business 01/15/19, 07:37

Delta Air Lines' surging profit is being overshadowed by tepid expectations for the current quarter.The Atlanta carrier on Tuesday reported fourth-quarter profit of $1.02 billion, or $1.49 per share. Earnings, adjusted for non-recurring gains, were $1.30 per share, or 3 cents better than was expected by analysts surveyed by Zacks ...

UnitedHealth shares move higher on earnings beat

Business 01/15/19, 06:31

UnitedHealth is reporting that profits slipped in the fourth quarter but it still beat most expectations.The country's biggest health insurer on Tuesday posted a profit of profit of $3.04 billion, or $3.10 per share. Earnings, adjusted for amortization costs, came to $3.28 per share, which is 8 cents better than ...

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