Goldman Sachs Bond Trading Revenue Surges, UnitedHealth Net Soars

Mukesh Buch
17 Jul, 2018
New York City

Comerica net jumped after loan losses declined. Charles Schwab said new accounts openings jumped to a record high in 18 years. Goldman Sachs reported better-than-expected results. Netflix declined on weaker-than-expected subscriber growth. UnitedHealth net surged.

[R]1:05 PM New York City, New York – Comerica net jumped after loan losses declined. Charles Schwab said new accounts openings jumped to a record high in 18 years. Goldman Sachs reported better-than-expected results. Netflix declined on weaker-than-expected subscriber growth. UnitedHealth net surged.[/R]

Tollbooth Index dropped 66.82 or 0.4% to 15,499.65 but for the year-to-date soared 12.6%.

Earnings Review

Comerica Inc ((CMA)) gained 65 cents to $91.35 after the financial services provider said net interest income in the second-quarter ending in June soared 18% from a year ago to $590 million.

Net income in the quarter surged 60.6% to $326 million or $1.87 per diluted share from $203 million or $1.13 in the same quarter last year.

Charles Schwab Corporation ((SCHW)) jumped 3.6% or $1.83 to $52.89 after the brokerage, banking, and asset management services provider said revenues in the second-quarter ending in June surged 17% from a year ago to $2.5 billion.

Net income in the quarter soared 51% to $866 million or 60 cents per diluted share from $575 million or 39 cents in the same quarter last year.

The brokerage services provider said in the period investors opened new 384,000 accounts, bringing the first half total to 827,000, the highest level in 18 years.

Goldman Sachs Group, Inc ((GS)) slipped 1.5% or $3.44 to $228 after the investment banking services provider reported revenues in the second-quarter ending in June soared 19% from a year ago to $9.4 billion.

Net income in the quarter jumped 44% to $2.3 billion or $5.98 per diluted share from $1.6 billion or $3.95 in the same quarter last year.

The investment bank said its bond trading revenue surged 45% but total equity trading in the quarter were flat from a year ago period.

Johnson & Johnson ((JNJ)) jumped 3.2% or $4.04 to $128.73 after the healthcare, drug and medical devices maker reported sales in the second-quarter ending in June advanced 10.6% from a year ago to $20.8 billion.

Net income in the quarter surged 19% to $4 billion or $1.45 per diluted share from $3.8 billion or $1.40 in the same quarter last year.

The healthcare products maker said domestic sales increased 9.4% and sales in the international segment soared 11.8%, reflecting operational growth of 7.9%

Netflix Inc ((NFLX)) declined 5.4% or $21.41 to $379.07 after the streaming video on demand service provider said revenues in the second-quarter ending in June surged 40.1% from a year ago to $3.9 billion.

Net income in the quarter soared to $384 million or 85 cents per diluted share from $66 million or 15 cents in the same quarter last year.

In the quarter, Netflix added 0.67 million net domestic streaming subscribers, totaled to 57.38 million and in the international it added 4.47 million streaming members and totaled to 72.76 million.

Netflix total streaming subscribers in the quarter declined to 130.14 million from the earlier estimate of forecasted 131.2 million.

UnitedHealth Group ((UNH)) slumped 2.6% or $6.72 to $250.26 after the health insurance services provider reported revenues in the second-quarter ending in June jumped 12% from a year ago to $56.1 billion.

Net income in the quarter surged 28.1% to $2.9 billion or $2.98 per diluted share from $2.3 billion or $2.32 in the same quarter last year.

The health insurer increased fiscal 2018 net earnings per share forecast in the range of $11.80 to $12.05 per share and cash flows from operations to approx $15.5 billion.