Bank of America released fourth-quarter earnings Tuesday exceeding analysts’ estimates for profit while revenue fell short. The bank has pledged to buyback $2.9 billion worth of shares this quarter. Shares fell 1.4% to $32.55 in pre-market trading.
Tag: Earnings
Citigroup Surpasses Profit Forecasts For Fourth-Quarter, Misses Revenue
Citigroup released fourth-quarter results Friday reporting profit higher than analysts predicted while revenues were below expectations. Shares fell by 4% to $66.11 after the results.
Foot Locker Posts Third Quarter Earnings, Surpasses Investors Forecasts
Foot Locker posted higher than expected earnings of $1.21 per share for the third quarter ending on November 1 as compared to investors’ forecast of 63 cents per share.
Interest rates are rising, a bad sign as the economy slides toward recession
The Fed is throwing all of its fire power at markets, and yet interest rates continue to rise, a troubling sign when the economy looks set to slow down dramatically. Markets continue to swing violently with the Dow losing another 6.2% Wednesday; oil plunging 24%, and copper down about 7%. The credit markets continue to […]
Tencent investors weigh up impact on the tech giant
A pedestrian walks past Tencent Holdings’s headquarters in Shenzhen, China. Qilai Shen | Bloomberg | Getty Images Shares of Chinese technology giant Tencent seesawed on Thursday as analysts assessed the company’s mixed earnings results as well as the potential impact of the coronavirus outbreak. Hong Kong-listed shares of Tencent popped over 3% in early trade, […]
Even with $1 trillion stimulus, hit to economy and employment will be big
A bar sits closed in the early evening in Brooklyn after a decree that all bars and restaurants shutdown by 8 pm in New York City as much of the nation slows and takes extra precautions due to the continued spreading of the coronavirus on March 16, 2020 in New York City, United States. Spencer […]
Stitch Fix shares are tanking, biz could be near ‘saturation point’
Katrina Lake, founder and chief executive officer of Stitch Fix Inc. Patrick T. Fallon | Bloomberg | Getty Images Stitch Fix shares are cratering as Wall Street questions the longevity of a business that ships customers clothes on a fixed basis, using data science to curate outfits they might like. Its stock was last down […]
Zoom (ZM) earnings Q4 2020
Eric Yuan, CEO, Zoom Video Communications Source: CNBC Shares of videoconferencing software company Zoom dropped as much as 10% after-hours on Wednesday, even though the company reported fiscal fourth-quarter earnings and guidance that exceeded analysts’ expectations. Zoom had been on a tear during the coronavirus outbreak, as companies turned to remote work — the stock […]
Nordstrom (JWN) reports fourth quarter 2019 earnings miss
Rolls of gift paper hang on display at a Nordstrom Local concept store in New York, Sept. 5, 2019. Demetrius Freeman | Bloomberg | Getty Images Nordstrom shares tumbled Tuesday after the retailer announced it is changing its leadership structure, appointing Erik Nordstrom as sole CEO and retiring its co-presidency. It announced the changes as it […]
Coca-Cola expects coronavirus could hit first-quarter earnings by up to 2 cents
Coca-Cola said Friday that the COVID-19 outbreak could drag down its first-quarter earnings by as much as 2 cents. The global beverage giant is forecasting that the virus will hit its quarterly earnings by 1 cent to 2 cents, unit case volume by 2% to 3% and organic revenue by 1% to 2%. Despite the […]