Earnings

Shares of PNC Financial Services rose nearly 2 percent in premarket trading Friday 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
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The bank has been under pressure for several quarters because of multiple probes into its sales practices. Two years ago, the scandal burst into the public eye when it was disclosed that retail bank employees had created fake accounts in customers’ names to meet sales targets. Sales issues later emerged in other businesses, such as
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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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Andrew Harrer | Bloomberg | Getty Images Jamie Dimon, chief executive officer of JPMorgan Chase & Co. JPMorgan Chase is scheduled to report second-quarter earnings before the market opens on Friday. Here’s what Wall Street expects: Earnings: $2.22 per share, expected by Thomson Reuters Revenue: $27.36 billion, forecast by Thomson Reuters Net income: $7.69 billion,
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Delta Air Lines expects pricier fuel to eat into its bottom line this year. Delta cut its 2018 profit outlook on Thursday as it prepares to slow its growth this fall. It expects filling up its planes with fuel will cost it $2 billion more this year compared with 2017. Jet-fuel prices are up about
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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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The last earnings season was all about raising expectations for earnings on the back of corporate tax cuts, share buybacks, and a synchronous global economic expansion. A lot has changed in the last three months, according to Nick Raich of Earnings Scout. “Last earnings season it was all about raising estimates. This earnings season, all
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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 Tostitos, grew 4 percent. Its North American beverage business, which includes brands like Gatorade and its namesake cola, dropped 1 percent, still an improvement over previous
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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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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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Wall Street is buzzing over Micron’s surging profit growth and its better-than-expected sales forecast. Micron shares rose 4 percent at one point in early trading Thursday, a day after it reported better-than-expected fiscal third-quarter earnings and gave a fourth-quarter revenue guidance above consensus expectations. The stock closed up nearly 1 percent on Thursday. J.P. Morgan
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Oracle reported better-than-expected earnings for its fiscal fourth quarter after customers spent more money on cloud services. The stock rose slightly in extended trading after falling 0.5 percent to $46.27 at the close. But after the company provided guidance, the stock tumbled. Here are the numbers: Earnings: Excluding certain items, 99 cents per share vs.
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