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- Shares rally on U.S. tech earnings, ECB purchase plans
- Tue, 21 Oct 2014 13:12:06 -0400 -
By Sam Forgione NEW YORK (Reuters) - A measure of global equity markets advanced on Tuesday after technology earnings lifted U.S. shares and the prospect of European Central Bank corporate bond purchases boosted European stocks and weighed on safe-haven U.S. Treasuries prices. ...
- CP Rail earnings rise, operating ratio sets fresh record
- Tue, 21 Oct 2014 12:27:18 -0400 -
(Reuters) - Canadian Pacific Railway Ltd reported higher third-quarter earnings and revenue on Tuesday as its operating ratio, a key efficiency measure, set a new record. Earnings and revenue fell short of analyst expectations, but shares rose 1.8 percent to C$225.45 on the Toronto Stock Exchange, in line with rival Canadian National Railway Co . On a call with analysts and investors, CP noted that stock-based compensation had weighed on earnings. The company's stock was up nearly 40 percent for the year at Monday's close. ...
- Nigeria naira hits 8-month low as firms hedge currency risk
- Tue, 21 Oct 2014 11:33:56 -0400 -
LAGOS (Reuters) - Nigeria's naira eased to an 8-month closing low of 165.55 against the dollar on Tuesday, due to strong dollar demand from importers and companies reducing their exposure to the local currency, dealers said. The naira fell 0.16 percent from Monday's close of 164.28 to the dollar, a level last seen on Feb. 21, a day after the president suspended the central bank governor, sending financial markets into a tailspin. Concerns about the falling price of oil, Nigeria's main source of foreign currency earnings, contributed to the drop. ...
- Lockheed boosts third quarter profit 5 percent as sales drop again
- Tue, 21 Oct 2014 09:47:08 -0400 -
By Andrea Shalal WASHINGTON (Reuters) - Lockheed Martin Corp , the Pentagon's top supplier, on Tuesday said higher pension income boosted quarterly profit despite a continuing drop in revenues, and foreign sales should reach a target of 20 percent of revenues by year-end. Chief Financial Officer Bruce Tanner said the company's net earnings rose 5 percent to $888 million in the quarter, or $2.76 per diluted share, driven higher largely by higher pension income, while revenues fell 2 percent to $11.1 billion. Tanner said U.S. ...
- Strong Apple earnings push US stocks higher
- Tue, 21 Oct 2014 09:43:20 -0400 -
New York (AFP) - Apple's strong earnings helped push US stocks higher in opening trade Tuesday, offsetting the impact of third quarter profit drops from Coca-Cola and McDonald's.
- New iPhones deliver big profits for Apple
- Mon, 20 Oct 2014 21:07:16 -0400 -
San Francisco (AFP) - New big-screen iPhones helped propel Apple's profit and revenue in the last quarter, as the California tech giant smashed earnings expectations.
- IBM struggles to reinvent itself in an age of cloud
- Mon, 20 Oct 2014 19:02:16 -0400 -
By Marina Lopes WASHINGTON (Reuters) - When IBM Corp CEO Ginni Rometty was asked recently for her tips on how to transform companies, she spoke of "relentless reinvention" and not protecting the past. Applying those precepts to IBM is proving particularly tricky as many of the company's old-line businesses have already been shut down or sold, while the units that are supposed to push future growth, such as cloud and security, face stiff competition. Earlier on Monday, IBM reported a marked slowdown in business in September and abandoned its 2015 operating earnings target. ...
- IBM ditches 2015 operating EPS target, shares slump 7 percent
- Mon, 20 Oct 2014 17:54:50 -0400 -
By Marina Lopes and Anya George Tharakan (Reuters) - International Business Machines Corp reported a marked slowdown in business in September and abandoned its 2015 operating earnings target on Monday, as weak client spending and a slumping software sector weighed down quarterly revenue. IBM shares fell nearly 7 percent to a three-year low, a blow for legendary investor Warren Buffett whose Berkshire Hathaway Inc is its top shareholder. The decline shaved more than $13 billion off of IBM's market cap, which stood at $182 billion at the stock market close on Friday. ...
- U.S. shares gain despite IBM hit, build on Japan stocks surge
- Mon, 20 Oct 2014 17:27:20 -0400 -
By Sam Forgione NEW YORK (Reuters) - A measure of global equity markets rose on Monday after strong U.S. corporate results lifted Wall Street, despite a quarterly earnings miss from IBM, building on positive sentiment that grew out of a surge in Japanese shares. On Wall Street, IBM shares closed down 7.1 percent at $169.10. While IBM's miss limited the Dow's gains, the index turned modestly higher before the end of the U.S. session, while the S&P 500 and Nasdaq advanced. "The fact that the Dow has been able to get positive with IBM's 13-point decline is pretty significant. ...
- U.S. stocks end higher despite drag from IBM
- Mon, 20 Oct 2014 17:08:05 -0400 -
By Yasmeen Abutaleb NEW YORK (Reuters) - U.S. stocks ended higher on Monday on investor hopes for a strong earnings season, but IBM's disappointing results limited gains. Earnings reports from Halliburton , Gannett Co , and others, helped ease the worries over global growth and falling commodity prices that last week helped drive stocks close to correction territory. "Some of the concerns of last week have subsided," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago. ...
- US stocks gain despite weak IBM earnings
- Mon, 20 Oct 2014 16:46:52 -0400 -
New York (AFP) - US stocks rose Monday, shaking off weak IBM earnings and extending the rally that began late last week.
- IBM profit plunges on disposal of chip unit, poor sales
- Mon, 20 Oct 2014 13:26:14 -0400 -
New York (AFP) - Shares of IBM plummeted Monday after earnings collapsed on a $4.7 billion charge and weak sales raised questions about the technology giant's efforts to remake itself.
- U.S. top court declines Duane Reade executives' appeals
- Mon, 20 Oct 2014 10:02:39 -0400 - By Lawrence Hurley WASHINGTON (Reuters) - The U.S. Supreme Court on Monday declined to hear two former senior Duane Reade Inc executives' appeals of their 2010 securities fraud convictions for inflating earnings at the New York drugstore chain. Anthony Cuti, Duane Reade's former chief executive, and William Tennant, who served as chief financial officer, both asked the court to throw out their convictions. They said in court papers that testimony from accountants used at trial should not have been allowed. ...
- Japan stocks see biggest gain this yr, lead sharp Asia rebound
- Mon, 20 Oct 2014 03:31:03 -0400 -
By Lisa Twaronite TOKYO (Reuters) - Japanese stocks led a rally in Asia on Monday, after solid U.S. data and earnings calmed tumult in global financial markets and reassured investors worried about the health of the world economy. The Thomson Reuters/University of Michigan index of consumer sentiment was surprisingly strong in early October, rising to more than a seven-year high. Other data also showed new housing starts rose more than expected last month, suggesting U.S. economic growth was solid. The upbeat U.S. ...
- Tesco accounting black hole to be less than originally stated: Sky
- Sat, 18 Oct 2014 13:21:07 -0400 -
LONDON (Reuters) - The world's third largest retailer, Tesco, will state next week that it overestimated earnings by less than the 250 million pounds which it previously announced, Sky news reported on Saturday, citing an unnamed banking source. Sky said on its website that when the firm reports its delayed first-half results next Thursday, the gap would fall "somewhere close to the middle" between 200 million and 250 million pounds ($322 million and $402 million). Tesco was not immediately available for comment when contacted by Reuters on Saturday. ...
- Wall St. gains one percent on results but S&P down for fourth week
- Fri, 17 Oct 2014 17:02:33 -0400 -
By Caroline Valetkevitch NEW YORK (Reuters) - U.S. stocks extended their rebound from this month's bruising selloff on Friday, giving the S&P 500 its best day in over a week, as worries about the U.S. earnings outlook eased, but the S&P 500 still posted its fourth straight week of declines. The S&P 500's streak of weekly losses was its longest since August 2011, and the index still is off 6.2 percent from its Sept. 18 record high. ...
- TSX hits one-week high on U.S. data, oil prices
- Fri, 17 Oct 2014 16:27:01 -0400 -
By John Tilak TORONTO (Reuters) - Canada's main stock index reached its highest in a week on Friday as positive U.S. economic data and a rise in oil prices boosted the energy sector. Data showing that U.S. housing starts and permits rose in September signaled the economic recovery might be on track. Upbeat quarterly earnings from major U.S. banks fueled the positive sentiment further. Stock markets have been in a corrective phase over the past month, weighed on by worries over global economic growth, oil demand and the direction of U.S. Federal Reserve policy. ...
- Stocks rally as global selloff abates, bonds fall
- Fri, 17 Oct 2014 16:21:13 -0400 -
By Herbert Lash NEW YORK (Reuters) - World equity markets rallied, with European stocks surging the most in more than two years, and bond prices slid on Friday as investors poured back into beaten-down markets on solid U.S. corporate earnings and rising consumer sentiment. Wall Street followed Europe's lead, with all major stock indexes climbing more than 1 percent after earnings reports eased concerns about the impact of weak global demand on U.S. growth and businesses. Expectations among some investors that the European Central Bank will increase stimulus also buoyed sentiment. ...
- Morgan Stanley profit jumps as trading activity rebounds
- Fri, 17 Oct 2014 15:45:13 -0400 -
By Tanya Agrawal and Lauren Tara LaCapra (Reuters) - Morgan Stanley reported an 87 percent rise in third-quarter earnings as the Wall Street bank's trading, investment banking and wealth management businesses benefited from increased client activity and a hot equity market. The bank's shares were up 2.7 percent at $33.40 in morning trading on Friday as both profit and revenue handily beat analysts' average forecast. ...
- GE and other US giants see growth ahead
- Fri, 17 Oct 2014 14:36:16 -0400 -
New York (AFP) - US industrial giant General Electric reported higher earnings for the third quarter Friday and said global economic growth remains solid, if uneven, with the US especially strong.
- Rolls-Royce issues fresh profit warning
- Fri, 17 Oct 2014 13:38:26 -0400 -
London (AFP) - British engine maker Rolls-Royce announced on Friday that it was slashing its earnings forecasts partly as result of Western trade sanctions against Russia, sparking a collapse in its share price.
- Google's 3Q earnings fall as expenses climb 30 pct
- Thu, 16 Oct 2014 19:26:46 -0400 -
SAN FRANCISCO (AP) — Google's third-quarter earnings slipped as the Internet search leader hired nearly 3,000 more employees while pouring more money into its zest for innovation and quest for new markets.
- Capital One shares fall as 3Q profit disappoints
- Thu, 16 Oct 2014 19:11:20 -0400 -
MCLEAN, Va. (AP) — A bigger buffer against loan losses weighed on Capital One Financial Corp.'s third-quarter earnings.
- iPhone rollout likely widened T-Mobile's growth lead
- Thu, 16 Oct 2014 14:18:42 -0400 -
By Marina Lopes WASHINGTON (Reuters) - Apple's iPhone 6 only went on sale in the last two weeks of the quarter, but the device's rollout may have been the U.S. cellular industry's top growth catalyst in the period, with T-Mobile US benefiting the most. Since the larger, slimmer iPhone was unveiled on Sept. 9, the U.S. cellular market has been flooded with deals for subscribers looking to switch providers ahead of earnings reports starting next week. Helped by T-Mobile's claim that it was offering the best repurchase terms on old iPhones, the No. ...
- Blackstone profit misses, sees chance to put more cash to work
- Thu, 16 Oct 2014 11:44:52 -0400 -
By Greg Roumeliotis (Reuters) - Blackstone Group LP , the world's largest alternative asset manager, on Thursday reported lower-than-expected third-quarter earnings, but said it was well positioned to profit from market jitters and put more of its $42.3 billion in undrawn investor capital to work. As markets rallied in the last few years, buyout firms have been net sellers rather than buyers, since soaring asset values generally made it more attractive to sell than to buy. A stock market plunge in the last week, however, has raised questions about whether these dynamics could shift. ...