Financials |
BlackRock reported Q3 earnings of $2.10 per share on profits of $317 million versus $1.67 per share on profits of $217 million in the year ago period.
Analysts had forecast $1.93 per share. The estimate and earnings are adjusted for costs including integration charges for the purchase of Barclays Global Investors and compensation obligations for large shareholders PNC Financial Services Group and Bank of America's Merrill Lynch unit.
Oct 20 · 12:03:00 PM · Source: CNBC
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by Michael Oliveto
Bank of NY Mellon reported a Q3 net loss of $2.05 per share on net losses of $2.5 billion versus earnings of $0.26 per share on a net profit of $303 million for the year ago period.
The current quarter’s losses include a one-time pre-tax charge of $4.8 billion to restructure its investment portfolio. Excluding the one-time charge the company earned $0.54 per share and beat analyst forecasts of $0.48 per share.
Oct 20 · 11:11:00 AM · Source: CNBC
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by Michael Oliveto
LaBranche & Co. said third quarter revenues fell to $29,255,000 from $77,310,000 in the comparable prior period. The quarterly loss applicable to common shares was 8,900,000 vs. a loss of $5,587,000.
Oct 20 · 10:36:00 AM · Source: Business Wire
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by Larry Etter
Jefferies Group, Inc. (NYSE: JEF) today announced record net revenues for the third quarter of $700 million, up 155% from the prior year. The company also recorded net income to common shareholders of $86 million, versus a loss of $31 million in the prior year
Net earnings per common share (diluted)were $0.42, which matches a record, versus a loss of $0.18 per share in the prior year.
Oct 20 · 10:17:00 AM · Source: Business Wire
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by Larry Etter
Prudential Financial, Inc. (NYSE:PRU) announced today that it is launching a major advertising campaign highlighting the company’s solutions for businesses facing a variety of challenges in the post-financial crisis environment. The multimillion dollar advertising campaign centers around Prudential answering an “SOS” call from corporations looking for a partner with the financial strength and solutions for their retirement plans, asset management and group life insurance needs.
Oct 16 · 2:01:00 PM · Source: Business Wire
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by Larry Etter
American Express reported on Thursday through a regulatory filing that for the quarter that ended September 30, the 30-day delinquency rate was 4.1%, according to preliminary data, down from 4.4% in the second quarter.
The 30-day delinquency rate measures borrowers at least a month behind their card payments. The 30-day delinquency rate, a key gauge of future losses, is important because higher delinquencies force issuers to squirrel away capital to reserve for potential losses; ultimately, companies must write off loans if customers can't pay.
Oct 16 · 11:07:00 AM
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by Michael Oliveto
Bank of America today reported a third-quarter 2009 net loss of $1.0 billion. After deducting preferred dividends of $1.2 billion, including $893 million related to dividends paid to the U.S. government, the diluted loss per share was $0.26. Those results compared with net income of $1.2 billion, or diluted earnings per share of $0.15, during the year-ago period. Through the first nine months of the year, the company had net income of $6.5 billion, or $0.39 per share after preferred dividends, compared with $5.8 billion, or $1.09 per share a year earlier.
"The company's core performance was impacted by a number of non-core items," said Chief Executive Officer and President Kenneth D. Lewis. "The market's improved view of Bank of America's credit cost the company due to non-cash marks on liabilities.
"Excluding those items, our revenue continued to hold up well," Lewis said. "Obviously, credit costs remain high, and that is our major financial challenge going forward. However, we are heartened by early positive signs, such as the leveling of delinquencies among our credit card customers."
Oct 16 · 8:08:00 AM · Source: Press Release
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by Rich Pike
Travelers was downgraded to Market Perform from Outperform at Keefe Bruyette with a price target set at $51.
Oct 15 · 8:21:00 PM
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by Rich Pike
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