Earnings

Goldman Sachs said profit surged 40 percent to $2.57 billion, exceeding analysts’ estimates on better-than-expected revenue from investment banking, asset management and its merchant bank division. Earnings of $5.98 per share beat the $4.66 estimate of analysts surveyed by Thomson Reuters. Company-wide revenue rose 19 percent to $9.40 billion, beating the $8.74 billion estimate. The
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Johnson & Johnson‘s pharmaceutical business fueled the company’s second-quarter growth, while its consumer unit lagged. The sprawling health company beat revenue and earnings estimates for the quarter and narrowed its full-year forecast. J&J’s pharmaceutical business and medical device segments topped expectations, while its consumer unit fell short. Here’s how the company did compared with what
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UnitedHealth posted a second-quarter profit that beat Wall Street estimates as it added more members to its health plans, and the company raised its full-year earnings forecast. The largest U.S. health insurer, which added 2.2 million consumers in the quarter, said it now expects adjusted earnings of $12.50 to $12.75 per share in the year,
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The Bank of America cost-cutting machine hummed along for another quarter. The second-biggest U.S. lender said that second-quarter profit surged 33 percent to $6.8 billion, exceeding the $5.92 billion estimate of analysts surveyed by FactSet. Executives said it was the 14th straight quarter the company posted positive operating leverage, or increased profit by turning levers
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Shares of PNC Financial Services ended trading Friday up 0.2 percent after beating estimates in its second-quarter earnings report. The regional bank reported earnings of $2.72 per share, beating estimates from analysts surveyed by Thomson Reuters by 14 cents. PNC also posted better-than-expected revenue, bringing $4.32 billion, compared to $4.25 billion expected. PNC showed growth
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Wells Fargo is scheduled to report second-quarter earnings before the market opens on Friday. Here’s what Wall Street expects: Earnings: $1.12 per share, forecast by Thomson Reuters Revenue: $21.677 billion, forecast by Thomson Reuters Net income: $5.47 billion estimated, which would be down 1.1 percent from the first quarter. The bank has been under pressure
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Still, CEO Michael Corbat said in a statement that Citigroup “drove strong year-over-year revenue growth in many of our businesses – including our International Consumer franchise, Treasury and Trade Solutions, Equities, and the Private Bank. And we continue to support our clients as evidenced by solid loan growth that was balanced across businesses and geographies.”
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J.P. Morgan Chase, the biggest U.S. lender by assets, posted record second-quarter profit of $8.32 billion, exceeding estimates as it posted stronger-than-expected trading results. Profit surged 18 percent, clobbering analyst estimates for a 9.4 percent increase. Earnings per share were $2.29 in the quarter, beating the $2.22 estimate. It was the 14th straight quarter that
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The big banks are first up to bat this second-quarter earnings season, but only one stock’s technicals look positive heading into their report. Wells Fargo has the potential for a post-earnings breakout, according to Instinet senior equity trader Frank Cappelleri. “Wells Fargo got hit especially hard” earlier this year, Cappelleri, senior equity trader at Instinet,
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PepsiCo‘s quarterly numbers Tuesday morning may be a signal for another strong earnings seasons, according to CNBC’s Jim Cramer. “They reported exactly what the bulls wanted,” said Cramer, whose charitable trust owns shares of the New York-based food and beverage company. Pepsi’s stock rose Tuesday after the company reported fiscal second-quarter earnings that beat Wall
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Financial stocks may be underperforming this year, but veteran bank analyst Dick Bove isn’t retreating into the bear camp. According to the chief strategist at Hilton Capital Management on CNBC’s “Trading Nation” on Monday, second-quarter earnings should shock financials back into rally mode. It could happen as early as this Friday, when J.P. Morgan Chase
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PepsiCo reported second-quarter earnings on Tuesday that beat analysts’ expectations, boosted by the continued strength of its Frito Lay snack business. The company’s snack business, which includes brands like Doritos and Tostitos, grew 4 percent. Its North American beverage business, which includes brands like Gatorade and its namesake cola, dropped 1 percent, still an improvement
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Bullish Wall Street watcher Bill Stone sees a strong earnings season ahead, with energy and technology stocks grabbing the biggest profits. In a recent interview, PNC’s former global chief investment strategist cited strong economic fundamentals as a major catalyst for blowout numbers. “From an earnings standpoint, energy probably will grow earnings about 130 percent, and
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Daniel Acker | Bloomberg | Getty Images General Mills breakfast cereal boxes are arranged for a photograph in Tiskilwa, Illinois. Cheerios cereal maker General Mills on Wednesday reported a quarterly profit that topped analysts’ estimates, as its efforts to reduce costs and improve its distribution network paid off. Gross margins of the company, which is
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Lennar on Tuesday reported a better-than-expected quarterly profit as housing demand got a boost from a strengthening economy and job growth. The U.S. homebuilder’s shares rose 9 percent in premarket trading. Shares of rivals D.R. Horton Inc and PulteGroup Inc were also up 3 percent to 4 percent. Lennar’s orders, an indication of future revenue
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Carnival shares dropped Monday after the company cut its full-year guidance, citing increased fuel costs and unfavorable currency exchange rates. The stock closed down 7.85 percent at $58.54 per share, the largest decline since a 7.9 percent drop in February 2016, after the cruise line operator cut its full-year earnings outlook to a range between
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Patrick T. Fallon | Bloomberg | Getty Images John Chen, chief executive officer of BlackBerry Ltd. Canadian software maker BlackBerry on Friday reported quarterly revenue and profit that topped analysts’ estimates, driven by strong growth in its high-margin software and services business. U.S.-listed shares of BlackBerry rose 2.6 percent to $11.89 in premarket trading. The
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Red Hat stock fell after the company reported better-than-expected earnings for the first quarter of its 2019 fiscal year but lower-than-expected guidance on Thursday. The stock fell more than 14 percent in Friday trading, in its worst day since 2006. Here’s how the company performed: Earnings: Excluding certain items, 72 cents per share, vs. 69
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