Get the latest earnings news headlines from Yahoo! News. Find breaking earnings news, including analysis and opinion on top earnings stories, photos and more.
- Stocks slip in afternoon after weaker estimate of US growth
- Fri, 27 Feb 2015 15:11:32 -0500 -
Major U.S. stocks indexes were on course for a slightly lower close Friday afternoon. Trading was mostly listless as investors weighed the implications of new economic reports and corporate earnings. Oil rose, recouping some of its losses from a day earlier.
- Jobs report may test market's complacency
- Fri, 27 Feb 2015 13:49:17 -0500 -
The U.S. stock market has been quiet this week - too quiet. Wall Street has traded in a tight range of late, with both volatility and trading volumes drying up as the earnings season winds down and Federal Reserve Chair Janet Yellen's recent Congressional testimony delivered no surprises. About 238,000 jobs are expected to have been added in February, according to the non-farm payroll report that will be released on Friday, down from the 257,000 added in January. "Economic data will be the biggest driver of market moves over the next month, and the key one is the jobs report," said Jim McDonald, chief investment strategist at Chicago-based Northern Trust Asset Management.
- VW says no guarantee of success in 2015
- Fri, 27 Feb 2015 12:38:48 -0500 -
Volkswagen stuck to its guidance for operating profit even after delivering record earnings last year, saying falling demand in key markets may weigh on its business. VW, in contrast to rivals, said its operating margin may fall this year, giving a target range of 5.5 to 6.5 percent after reaching 6.3 percent last year. "Given the subdued growth prospects in regions outside China, there is no guarantee that 2015 will be a successful year, either for the industry or for VW," finance chief Hans Dieter Poetsch said on Friday. In contrast, Toyota raised its profit guidance as it anticipates record earnings while Peugeot - which only survived the European slump after a multi-billion share issue - raised a key cash-flow goal after narrowing its net loss in 2014.
- Volkswagen sales and profit hit new records but cautious on 2015
- Fri, 27 Feb 2015 09:36:17 -0500 -
Volkswagen, Europe's biggest car maker, said Friday it notched up record sales and earnings in 2014 but was cautious for 2015 in face of the emerging market weakness and currency fluctuations. VW delivered a total 10.14 million vehicles to customers worldwide, an increase of 4.2 percent. Looking ahead, however, VW said it was more cautious. "Given the subdued growth prospects in regions outside China, there is no guarantee that 2015 will be a successful year, either for the industry or for the Volkswagen group," said chief financial officer Hans Dieter Poetsch.
- BASF meets targets but sees 'uncertain' year in 2015
- Fri, 27 Feb 2015 05:19:22 -0500 -
German chemicals giant BASF said Friday it met its 2014 earnings targets but the outlook for 2015 was uncertain in view of volatile oil prices and currency developments. "We achieved our goal for 2014: we increased earnings, despite the disappointing economic development in Europe," chief executive Kurt Bock told the group's annual earnings news conference. BASF said its net profit grew by 7.6 percent to 5.155 billion euros ($5.8 billion) in 2014. BASF said it planned to increase its dividend to shareholders to 2.80 euros per share for 2014 from 2.70 euros a year earlier.
- British Airways owner posts surging profits
- Fri, 27 Feb 2015 04:38:02 -0500 -
International Airlines Group, the owner of British Airways and Iberia, announced surging annual profits on Friday thanks to sliding fuel prices and a turnaround at its Spanish unit. IAG reported a profit after tax of 982 million euros for last year compared with net profit of 122 million euros in 2013, the company hoping to buy Irish carrier Aer Lingus said in an earnings statement. IAG chief executive Willie Walsh said the business was lifted by "increased productivity, supplier cost savings ... boosted by the introduction of more efficient aircraft into our fleet and lower fuel prices in the last quarter of the year". Last month saw Qatar Airways snap up almost 10 percent of IAG, in the second European entry by a Gulf carrier.
- Kenya's CFC Stanbic posts 6 pct rise in 2013 profit
- Fri, 27 Feb 2015 01:24:58 -0500 -
NAIROBI (Reuters) - Kenya's CFC Stanbic Holdings on Wednesday posted a 6 percent rise in full-year pretax profit to 7.7 billion shillings ($84.18 million), citing a rise in net interest income. CFC Stanbic Holdings, which operates a bank, CFC Stanbic Bank and a financial services firm in Kenya, said in a statement its net interest income increased to 8.46 billion shillings in 2014 from 7.54 billion shillings in 2013. CFC Stanbic Holdings, which is controlled by South Africa's Standard Bank, said earnings per share from continuing operations grew to 14.38 shillings versus 12. ...
- IBM targets $40 billion in cloud, other growth areas by 2018
- Thu, 26 Feb 2015 20:28:26 -0500 -
The aggressive target, set by IBM executives at the company's annual investor meeting in New York on Thursday, is the latest step for the technology giant towards emerging, high-margin businesses, and away from its previous strongholds in hardware and servers. The $40 billion will come from areas which IBM calls its "strategic imperatives," namely cloud, analytics, mobile, social and security software. The company said it would shift $4 billion in spending to its "strategic imperatives" this year. IBM revenue has now fallen for the past 11 quarters, while earnings growth has been sporadic.
- Pearson says earnings could jump 20% this year
- Thu, 26 Feb 2015 19:18:58 -0500 -
Financial Times publisher Pearson forecast Friday that earnings could soar by a fifth this year, aided by cost-cutting and expanding online sales. Earnings per share -- a key measure of company performance -- could rise to between 75 pence and 80 pence this year, compared with 66.7 pence in 2014, Pearson said in a results statement. Pearson, which earns 90 percent of sales from its education division, said revenues dipped almost four percent to £4.87 billion.
- TSX edges higher as TD, CIBC shares overcome energy decline
- Thu, 26 Feb 2015 16:49:43 -0500 -
By John Tilak TORONTO (Reuters) - Canada's main stock index rose slightly on Thursday as advances in Toronto Dominion Bank and Canadian Imperial Bank of Commerce helped offset a drop in the energy sector. TD shares advanced 1 percent, to C$54.47, after the company posted a slightly higher profit in line with expectations, as gains at its retail division offset weakness in wholesale banking. CIBC reported better-than-expected first-quarter earnings, helped by strong growth in its wholesale banking business, and unexpectedly raised its dividend. Despite a sharp slump in oil prices over the past several months, the commodity-focused TSX has been climbing, gaining about 12 percent since hitting a low in December.
- For Macy's, going downmarket looks like the way ahead
- Thu, 26 Feb 2015 13:10:58 -0500 -
For the past six years, Macy's has focused more on cutting costs and streamlining its operations rather than expanding as a way to fuel earnings. Since so many peoples' salaries are off-price they also need to shop that way," said Robert Brusca, chief economist at consulting firm Fact and Opinion Economics. TJX's sales have increased 6 percent in each of the past two years, while Macy's sales have grown an average 0.75 percent.
- Hong Kong tycoon Li's firms say profits nearly doubled in 2014
- Thu, 26 Feb 2015 13:01:41 -0500 -
Hong Kong tycoon Li Ka-shing's two main companies Thursday said earnings nearly doubled in 2014 to their highest point this century, in their last results ahead of a revamp of his vast business empire. Hutchison Whampoa, which controls assets ranging from ports to telecommunications, said net profit more than doubled to HK$67.16 billion ($8.66 billion) up from HK$31.11 billion in 2013. Property developer Cheung Kong's net profit for the 12 months ending December 31 rose to HK$53.87 billion, a 53 percent jump from HK$35.26 billion the year before. The profits were the highest the two companies had seen in 15 years, Bloomberg News reported, and comes ahead of an overhaul of Li's vast business empire that will separate out his property firms from other global assets.
- How Sands fell from grace at Standard Chartered
- Thu, 26 Feb 2015 12:48:00 -0500 -
LONDON/HONG KONG (Reuters) - In summer 2012 Peter Sands was flying high as Standard Chartered Chief Executive, batting back questions on whether he was tempted to run Barclays or even the Bank of England. Praised for steering a safe path through the financial crisis, the former McKinsey consultant had just delivered bumper half-year earnings to set his Asia-focused bank on course for a 10th straight year of record profits. It was the start of a run of trouble that saw Sands ousted on Thursday following a rebellion by key shareholders. Investors cited failures in strategy, execution and governance, leaving new CEO Bill Winters with a lot to do.
- CIBC profit beats estimates, eyes U.S. deals
- Thu, 26 Feb 2015 10:28:31 -0500 -
By Jeffrey Hodgson TORONTO (Reuters) - Canadian Imperial Bank of Commerce , the country's No 5 lender, reported better-than-expected first-quarter earnings on Thursday, helped by strong growth in its wholesale banking business, and unexpectedly raised its dividend. Excluding items, CIBC earned C$2.36 ($2) per share in the quarter ended Jan. 31, topping the average analyst estimate of C$2.27, according to Thomson Reuters I/B/E/S. CIBC shares rose 2.9 percent to C$94.89 in Toronto, the biggest gain among the country's major banks. CIBC CEO Victor Dodig told analysts the bank was still looking at buying U.S. asset management and private banking providers. He had previously said the bank could do deals in the C$1 billion to C$2 billion range.
- Global stocks higher on Chinese, German data
- Thu, 26 Feb 2015 07:45:52 -0500 - SEOUL, South Korea (AP) — Global stocks were mostly higher Thursday on upbeat corporate earnings and rising Chinese factory output after the chairwoman of the U.S. Federal Reserve said it will be patient about increasing interest rates.
- Spain's Iberdrola to buy UIL Holdings for about $3 billion
- Thu, 26 Feb 2015 05:44:37 -0500 -
By Supriya Kurane and Jose Elías Rodríguez (Reuters) - Spanish utility Iberdrola SA will buy UIL Holdings Corp for about $3 billion to create a new listed power and gas company and expand in the United States, where it hopes to offset falling profits at home. A world leader in wind turbines, Iberdrola joins other European companies seeking to grow via acquisitions outside sluggish domestic markets. Last year, German engineer Siemens agreed to buy U.S. turbine maker Dresser-Rand . Iberdrola's earnings have been hit hard by Europe's economic crisis, as well as by energy reforms in Spain, where new power generation taxes and renewable cutbacks dented profits.
- Pan African Resources posts 63 pct earnings drop
- Thu, 26 Feb 2015 03:08:21 -0500 - JOHANNESBURG (Reuters) - South African gold mining and exploration company Pan African Resources posted a 63 percent drop in half year headline earnings, citing lower commodity prices. Headline earnings for the six months ending December was 102.6 million rand ($8.97 million), the company said, adding it would pay a dividend of 14 cents per share. Shares dropped nearly 4 percent by 0917 GMT. ($1 = 11.4350 rand)
- South Africa's MMI Holdings sees headline earnings falling by up to 30 pct
- Thu, 26 Feb 2015 02:53:59 -0500 -
South African financial services group MMI Holdings said on Thursday its interim headline earnings would drop as much as 30 percent following the impact of investment markets. MMI said it saw basic and diluted headline earnings per share at between 80 and 95 cents for the six months to the end of December. Headline earnings are the main measure of profitability in South Africa. Core headline earnings, which MMI regards as a better measure of its longer-term operational performance, are likely to increase by as much as 15 percent to a cap of 125 cents per share, the company said in a statement.
- South Africa's Massmart full-year sales jump 10.4 pct
- Thu, 26 Feb 2015 02:20:44 -0500 -
South African retailer Massmart Holdings Ltd reported a 10.4 percent jump in full-year sales on Thursday as its consumer goods, liquor and home improvement supplies business posted better performance. Massmart, majority owned by Wal-Mart Stores Inc, however, said net interest paid from funding several property acquisitions in 2013-2014 led to a 10.2 percent drop in headline earnings. Massdiscounters, which includes general merchandise discounter Game that operates in 11 African countries and high tech retailer, DionWired, with 23 stores, reported a 10,2 percent increase in sales, the company said in a statement. Industry wide retail sales in South Africa rose 3.4 percent year-on-year in December, above market expectations and higher than a revised 2.5 percent expansion in November.
- South Africa's Liberty Holdings posts 3 pct fall in FY earnings
- Thu, 26 Feb 2015 01:38:22 -0500 - Liberty Holdings Ltd, South Africa's fourth-largest insurer by market value, reported a 3 percent decline in full-year profit on Thursday, reflecting a contraction in earnings from its shareholder investment portfolio. The insurer, majority owned by Africa's biggest lender Standard Bank, said BEE normalised headline earnings per share fell to 1,403.3 cents for the year ended December, from 1,439.6 cents the previous year. BEE normalised headline earnings, which exclude certain one-time items and take into account the impact of its black shareholder scheme, is Liberty's main performance measure.
- Asian stocks higher on earnings, China factory
- Wed, 25 Feb 2015 23:35:02 -0500 -
SEOUL, South Korea (AP) — Asian stocks were mostly higher Thursday on upbeat corporate earnings and rising Chinese factory output after the chairwoman of the U.S. Federal Reserve said it will be patient about increasing interest rates.
- Morgan Stanley to pay $2.6 bn to settle mortgage bond probe
- Wed, 25 Feb 2015 18:26:57 -0500 -
Morgan Stanley said Wednesday it had reached a preliminary agreement with the Justice Department to pay $2.6 billion to settle a probe into its marketing of mortgage-backed securities. The settlement resolves claims the civil division of the Justice Department "indicated it intended to bring against the company," Morgan Stanley said in a securities filing. The probes focused on issues including "the Company's due diligence on loans that it purchased for securitization, the Company's communications with ratings agencies, the Company's disclosures to investors, and the Company's handling of servicing and foreclosure related issues," the bank said in a November 2014 filing. On Wednesday, Morgan Stanley trimmed its 2014 earnings from continuing operations by $1.35 per share from the $2.96 per share previously reported in light of the settlement.
- US stocks little changed following mixed earnings
- Wed, 25 Feb 2015 16:48:20 -0500 -
New York (AFP) - Wall Street stocks finished little changed Wednesday following mixed corporate earnings and a second day of congressional testimony from Federal Reserve Chair Janet Yellen.
- TSX higher on Hudson's Bay surge, banks gain too
- Wed, 25 Feb 2015 16:40:18 -0500 -
By John Tilak and Alastair Sharp TORONTO (Reuters) - Canada's main stock index gained on Wednesday as Hudson's Bay Co surged on a plan to carve out its real estate assets and banking stocks rose after Royal Bank of Canada and National Bank of Canada posted solid earnings. HBC said it will form two real estate joint ventures that will bring in about C$1.1 billion ($890 million) in cash. The stock shot up 19.7 percent to C$26.57. ...
- National Bank of Canada profit boosted by markets, buy backs eyed
- Wed, 25 Feb 2015 15:08:24 -0500 - By Jeffrey Hodgson TORONTO (Reuters) - National Bank of Canada , the country's sixth-largest lender, reported a stronger-than-expected profit on Wednesday, helped by gains at its financial markets division. The bank said diluted earnings per share excluding some items were C$1.14. Analysts, on average, had expected C$1.12, according to Thomson Reuters I/B/E/S. National shares gained 2.75 percent to C$48.19. National also said it would sell more than 9 million of its shares in Fiera Capital Corp , reducing its stake in the investment manager to about 22 percent.