Goldman Sachs Net Falls, Intel Net Surges 39%

Mukesh Buch
16 Jan, 2015
New York City

Comerica net surged 29% but revenues fell 4%. Goldman Sachs profit plunged 10% after revenues declined 12% on weak underwriting and fixed income trading. Intel profit surged 39% while revenues dropped 6%. PNC Financial Services net fell 2%. PPG net tumbled 67%.

[R]12:00 PM New York – Comerica net surged 29% but revenues fell 4%. Goldman Sachs profit plunged 10% after revenues declined 12% on weak underwriting and fixed income trading. Intel profit surged 39% while revenues dropped 6%. PNC Financial Services net fell 2%. PPG net tumbled 67%.[/R]

Tollbooth Index rose 0.3% or 26.62 to 9,737.34.

Earnings Review

Comerica Inc ((CMA)) gained 1.4% or 56 cents to $41.52 after the financial service provider said net interest income in the fourth-quarter ending in December dropped 3.5% to $415 million from a year ago period.

Net income in the quarter surged 28.7% to $148 million or 80 cents a diluted share compared to $115 million or 62 cents from the same quarter last year.

Goldman Sachs Group Inc ((GS)) slipped $1.72 to $176.77 after the diversified financial service provider reported net revenues in the fourth-quarter ending in December declined 12% to $7.69 billion from a year ago period.

Net income in the quarter plunged 10% to $2.03 billion or $4.38 a diluted share compared to $2.25 billion or $4.60 from the same quarter last year.

The investment company said equity underwriting in the period tumbled 45% to $342 million and debt underwriting plummeted 21% to $406 million from a year ago period.

Intel Corporation ((INTC)) slid 10 cents to $36.10 after the microprocessor and chipset maker reported revenues in the fourth-quarter ending in December dropped 6% to $14.7 billion from a year ago period.

Net income in the quarter soared 39% to $3.7 billion or 74 cents a diluted share compared to $2.6 billion or 51 cents from the same quarter last year.

PNC Financial Services Group Inc ((PNC)) rose 1.8% or $1.45 to $83.86 after the financial service provider reported total revenues in the fourth-quarter ending in December fell 3% to $3.95 billion from a year ago period.

Net income in the quarter fell 2.2% to $988 million or $1.84 a diluted share compared to $1.01 billion or $1.87 from the same quarter last year.

PPG Industries, Inc ((PPG)) increased 80 cents to $227 after the paint and coating maker stated net sales in the fourth-quarter ending in December jumped 6% to $3.71 billion from a year ago period.

Net income in the quarter tumbled 67.3% to $83 million or 60 cents a diluted share compared to $254 million or $1.78 from the same quarter last year.

SunTrust Banks, Inc ((STI)) climbed 3.8% or $1.38 to $38.09 after the banking service provider said total revenues in the fourth-quarter ending in December slid 1% to $2.04 billion from a year ago period.

Net income in the quarter declined 8% to $378 million or 72 cents a diluted share compared to $413 million or 77 cents from the same quarter last year.