Earnings

Regional lender PNC Financial Services, the sixth-largest U.S. bank by assets, reported a stronger-than-expected quarterly profit on Friday as higher Federal Reserve interest rates boosted the bank’s income. Banks in the United States have got a much-needed boost from the Federal Reserve raising interest rates. The Fed has increased rates three times since the second
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The bank also said, however, its fixed-income trading revenue fell 22 percent on a year-over-year basis. Third-quarter fixed-income revenue totaled $2.152 billion versus $2.646 billion in the year-earlier period. Bank of America said the slowdown was “driven by less favorable market conditions across credit-related products, as well as lower volatility in rates products.” “This slowly
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Domino’s, the biggest U.S. pizza delivery chain, reported slower same-store sales growth in the third quarter, sending its shares down 3 percent in premarket trade. The company’s comp-store sales growth at its own restaurants slumped to 8.4 percent from 13.8 percent a year earlier. Still, it beat the 6.6 percent rise expected by analysts polled
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Citi reported a 3 percent year-over-year increase in global consumer banking revenue. In North America, retail banking revenue rose 12 percent, excluding mortgages. Citi cited “continued growth in loans and assets under management,” as well as higher interest rates. The bank’s international consumer business saw an 8 percent revenue increase, driven by higher loans and
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Ramin Talaie | Corbis | Getty Images Delta Airlines planes taxi at Hartsfield-Jackson Atlanta International Airport in Atlanta, GA. Delta Air Lines on Wednesday posted third-quarter earnings and revenue that topped Wall Street expectations. The No. 2 U.S. airline reported adjusted earnings per share of $1.57, beating analysts’ expectations of $1.53 a share for a
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BlackRock, the world’s largest asset manager, reported better-than-expected third-quarter results on Wednesday. Total assets under management rose 17 percent to nearly $6 trillion as net inflows easily beat Wall Street expectations. Here’s how the company’s results compare to Wall Street’s expectations: EPS: $5.92 per share vs $5.56 expected by a Thomson Reuters survey. Revenue: $3.233
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Costco implemented its annual membership fee increase by $5-$60 for Goldstar and business members, and by $10-$120 for executive memberships in the quarter. Membership fees, which accounted for about 72 percent of Costco’s operating income in 2016, rose 13 percent in the 17-week fourth quarter ended Sept. 3. Excluding the impact of fuel and currency
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PepsiCo reported weaker-than-expected North American beverage sales, as the beverage giant struggled to toe the line between defending its core brands against spending to promote its newer ones. Pepsi also blamed declining store traffic and a colder summer decreasing demand for its historically strong performing Gatorade drinks “This summer, we directed too much of our
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While Olive Garden’s same-store sales grew 1.9 percent in the first quarter, its 12th-consecutive quarter of positive growth, they fell short of Wall Street’s expectation of 2.5 percent, according to StreetAccount. Darden said that Olive Garden’s same-store sales would have been up 2.2 percent if not for Hurricane Harvey. Darden’s Bahama Breeze also saw same-store
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General Mills reported a smaller-than-expected quarterly profit, hurt by lower sales of its yogurts and cereals in North America. The Cheerios cereal maker’s shares fell 4.3 percent to $53 in premarket trading on Wednesday. General Mills said its U.S. yogurt sales recorded a double-digit drop as demand for Yoplait Greek and Yoplait Light products remained
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Oracle was the worst-performing stock in the S&P 500 on Friday, tumbling more than 6 percent in its worst day in 4 years. The company reported stronger-than-expected earnings on Thursday for the first quarter of its 2018 fiscal year, which ended on August 31. But the stock turned negative after the company gave guidance for
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Oracle stock rose by nearly 2 percent in extended trading Thursday immediately after the company reported stronger-than-expected earnings for the first quarter of its 2018 fiscal year, which ended on August 31. But the stock turned negative after the company gave guidance for the next quarter. EPS: Excluding certain items, 62 cents in earnings per
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Kroger shares dove Friday after the grocer’s second-quarter profit slid near 8 percent as it slashed prices amid growing competition in the sector. Kroger’s stock was down 7.8 percent Friday morning. Here’s what Kroger reported compared with what Wall Street was expecting, based on a Thomson Reuters survey of analysts: Earnings of 39 cents a
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Canadian yoga and leisure apparel maker Lululemon Athletica reported quarterly profit and sales on Thursday that topped expectations as online sales surged 30 percent thanks to an effort to beef up its e-commerce strategy, and the company raised its outlook. The results helped ease concerns the “athleisure” trend popularized by Lululemon may be cooling. Shares,
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Best Buy reported second-quarter earnings and sales on Tuesday that topped analysts’ expectations. Looking ahead, the company has also raised its revenue outlook for the full year and is calling for continued consumer “momentum.” The Minnesota-based retailer said stronger shopper demand for its technology products, such as smartphones and wearable devices, boosted its sales at
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Dollar Tree reported better-than-expected quarterly profit and comparable sales, helped by lower costs and discounts as well as a 1 percent rise in same-store sales at its Family Dollar business. Shares of the biggest U.S. dollar-store chain operator rose 9 percent to $81.04 in premarket trading on Thursday after the company raised its profit and
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Tiffany reported bigger-than-expected quarterly profit and sales on Thursday, helped in part by higher demand for its fashion and designer jewelry in Japan and lower input costs. Sales at established stores open for more than a year fell 2 percent, steeper than the 1 percent fall expected by analysts polled by research firm Consensus Metrix.
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