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Market Update

BASF Earnings Soar 50%, Ceconomy Net Drops

Sarla Buch
19 Jan, 2018
New York City

BASF annual sales and profit surged. Ceconomy forecasted profit to decline despite higher sales. Remy Cointreau reported third-quarter sales above the estimates. Dignity tumbled on profit warning after lower funeral prices. Software estimated lower profit.

Morgan Stanley Trading Revenue Drops, BB&T and BNY Net Shine

Mukesh Buch
18 Jan, 2018
New York City

Alcoa net loss widened but revenues soared 28%. BNY Mellon profit surged 38%. BB&T beats estimates. J B Hunt net and revenues jumped. Morgan Stanley said trading revenues declines but wealth management fees rise.

Emirates Supports A380 Jumbo Program; Informa, UBM in $5 B Merger Talks

Sarla Buch
18 Jan, 2018
New York City

Airbus secured order for 36 additional A380 jumbo jets from Emirates. AB Foods reported rising holiday sales at its low-cost fashion retail chain Primark. Countrywide declined after profit warning. Informa and UBM, the two largest event organizers are in merger talk.

BofA Revenues Rise Fails to Spark Stock; Goldman Sachs Bond Trading Plunges

Mukesh Buch
17 Jan, 2018
New York City

Bank of America profit declined 50% on one-time charges linked to latest tax reforms and missed revenue expectations. Charles Schwab revenues soared. CSX reported better-than-expected results. Goldman Sachs bond trading plunges 50%. US Bancorp profit jumped.

ASML to Buy Back

Sarla Buch
17 Jan, 2018
New York City

ASML beats earnings estimate and forecasted strong growth ahead. Alstom sales and orders jumped. Grupo Carrefour Brasil reported rising sales on strong holiday and e-commerce sales. Zalando forecasted strong growth in revenues and operating profit.

Steady Rise in Loans and Deposits at Citigroup, UnitedHealth Net Doubles

Mukesh Buch
16 Jan, 2018
New York City

Avis Budget declined on weak revenue forecast. Citigroup reported loss of $18.3 billion on one-time charges linked to federal tax overhaul. Comerica net plunged 31%. First Republic missed revenues estimates. UnitedHealth profit more than doubled after one-time tax benefit.

BP Records Additional Deep Water Charges in 2017, HIS Markit Beats Estimates

Sarla Buch
16 Jan, 2018
New York City

BP recorded additional $1.7 billion charges linked to Deepwater Horizon disaster. Ericsson wrote down 14.2 billion kronor. Greggs issued cautious fiscal outlook. Hugo Boss quarterly sales benefited from the strength in the U.S. IHS Markit beats fourth-quarter estimates.

Emirates No May End A380, Carillion Files Liquidation

Sarla Buch
15 Jan, 2018
New York City

Airbus may be forced to abandon, once heralded as showpiece, A380 superjumbo passenger aircraft production. U.K. based Carillion files for liquidation. Metso warned of weak fourth-quarter profit. Renault said annual vehicle sales jumped 4%. William Hill beats profit estimates.

Emirates No May End A380, Carillion Files Liquidation

123jump.com Staff
15 Jan, 2018
New York City

Airbus may be forced to abandon, once heralded as showpiece, A380 superjumbo passenger aircraft production. U.K. based Carillion files for liquidation. Metso warned of weak fourth-quarter profit. Renault said annual vehicle sales jumped 4%. William Hill beats profit estimates.

Blackrock, JP Morgan, PNC and Wells Fargo Power Ahead

Mukesh Buch
12 Jan, 2018
New York City

BlackRock profit surges ahead as asset base expands. JPMorgan takes $2.4 billion tax bill related one-time charges. PNC Financial beats earnings estimate. Shaw Communications net soared 28%. Wells Fargo takes $3.25 billion litigation related charges.

GKN Rejects

Sarla Buch
12 Jan, 2018
New York City

B&M reported strong sales in holiday period. Carrefour agreed to buy 17% stake in Showroomprive.com. GKN rejected

Delta Air, KB Home, Progress Software Jump

Mukesh Buch
11 Jan, 2018
New York City

Delta Air Lines reported better-than-expected profit. JetBlue December traffic and capacity increased. KB Home profit and revenues surged. Meredith extended tender offer to buy Time Inc for $18.50 per share. Progress Software surged after net swung to profit.

Richemont Sales Edge Up 1%, HELLA and Boohoo.com in Focus

Sarla Buch
11 Jan, 2018
New York City

AO World domestic revenues jumped. Boohoo reported record revenue increase during holiday period. HELLA profit jumped on strong segment sales growth. Pandora tumbled on gloomy outlook. Richemont missed expectations as sales rose slightly.

Lennar Misses Earnings Estimates, Supervalu, SYNNEX Tumble

Mukesh Buch
10 Jan, 2018
New York City

CalAtlantic said new homes delivered in the last quarter jumped 5%. Lennar misses profit estimate. MSC Industrial offered upbeat earnings and sales outlook. Supervalu tumbled despite net swung to profit. SYNNEX plunged. VOXX International net surged.

CropEnergies Reaffirms Outlook, Sainsbury's Lifts Profit Forecast

Sarla Buch
10 Jan, 2018
New York City

Big Yellow Group revenues jumped 7%. CropEnergies reaffirmed fiscal 2018 revenue forecast. Continental estimated offered cautious outlook for 2018 sales. PageGroup beats profit estimates. Sainsbury lifted profit estimate after holiday sales.