Delta Air and Morgan Stanley Net Swung to Profit

Mukesh Buch
19 Jan, 2016
New York City

Bank of America net soared 10%. Charles Schwab profit surged 19%. Comerica net plunged 13% but revenues jumped 4%. Delta Air Lines and Morgan Stanley net swung to profit. M&T Bank net fell 2% while revenues surged 19%.

[R]11:50 AM New York – Bank of America net soared 10%. Charles Schwab profit surged 19%. Comerica net plunged 13% but revenues jumped 4%. Delta Air Lines and Morgan Stanley net swung to profit. M&T Bank net fell 2% while revenues surged 19%.[/R]

Tollbooth Index increased 29.06 or 0.3% to 10,001.28.

Earnings Review

Bank of America Corporation ((BAC)) rose 5 cents to $14.51 after the banking and financial services provider reported revenues in the fourth-quarter ending in December jumped 4.3% from a year ago to $19.5 billion.

Net income in the quarter soared 9.5% to $3 billion or 28 cents per diluted share compared to $2.74 billion or 25 cents per share from the same quarter last year.

Charles Schwab Corp ((SCHW)) gained 1% or 29 cents to $27.31 after the investment and brokerage services provider said net revenues in the fourth-quarter ending in December soared 9% from a year ago to $1.7 billion.

Net income in the quarter surged 18.9% to $416 million or 28 cents per diluted share compared to $350 million or 25 cents per share from the same quarter last year.

Comerica Inc ((CMA)) slipped 1.7% or 59 cents to $35.47 after the financial services provider stated net interest income in the fourth-quarter ending in December increased 4.3% from a year ago to $433 million.

Net income in the quarter plunged 12.8% to $130 million or 71 cents per diluted share compared to $149 million or 80 cents per share from the same quarter last year.

Delta Air Lines, Inc ((DAL)) jumped 4.3% or $1.94 to $46.48 after the airline company said total revenues in the fourth-quarter ending in December fell 1.5% from a year ago to $9.5 billion.

Net in the quarter swung to profit $980 million or $1.25 per diluted share compared to a loss of $712 million or 86 cents per share from the same quarter last year.

Morgan Stanley ((MS)) increased 2.6% or 68 cents to $26.63 after the banking and brokerage services provider reported net revenues in the fourth-quarter ending in December slid 1.3% from a year ago to $7.7 billion.

Net in the quarter swung to profit $753 million or 39 cents per diluted share compared to a loss of $1.75 billion or 91 cents per share from the same quarter last year.

M&T Bank Corporation ((MTB)) jumped 2.4% or $2.48 to $106.97 after the banking services provider stated total interest income in the fourth-quarter ending in December surged 19% from a year ago to $902.4 million.

Net income in the quarter fell 2% to $270.9 million or $1.65 per diluted share compared to $277.5 million or $1.92 per share from the same quarter last year.