Market News

Moody's (MCO)

The ratings agency Moody's today said third-quarter earnings fell 11 percent to $100.6 million, or 42 cents a share, from $113 million, or 46 cents, a year earlier.
Company said the global economic slowdown slowed demand for structured debt rankings, but it said full-year profit will be more than it previously predicted.

Oct 29 · 11:23:00 AM · Source: Company News
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by Larry Etter

Mack-cali Realty Corporation (CLI)

Commerical real estimate company Mack-cali Reality Corp. said it posted a profit of $19.6 million, or 24 cents a share, down from $23.1 million, or 34 cents a share, a year earlier. Funds from operations, an important profitability metric for REITs, dropped to 81 cents from $1.02. Revenue fell 5.2% to $193.6 million as base rents revenue, which makes up a bulk of the total, rose 5.2%; other income tumbled 69%.

Oct 29 · 10:29:00 AM · Source: Company News
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by Larry Etter

Bank of New York Mellon (BK)

Bank of New York Mellon's joint venture with China's Western Securities Co Ltd is still in the process of the Chinese regulatory approval, said Robert P. Kelly, chief executive of the U.S.-based bank, on Tuesday.
The proposed JV asset management firm, in which BNY Mellon intends to take a 49% stake, will open soon after the regulatory approval, with a focus on the retail market in China, according to the chief executive.

Oct 28 · 12:53:00 PM · Source: China Knowledge
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by Michael Oliveto

American Express (AXP)

American Express and Discover were named as the two best credit card companies based on overall consumer satisfaction, according to J.D. Power and Associates 2009 Credit Card Satisfaction Study.
The study ranks consumer satisfaction of credit card usage on six factors including customer interaction, interest rates and fees, payment processes, benefits and services and problem resolution. The study uses a 1,000 point scale and found that consumers are overall much less satisfied with their credit cards in 2009 than they were in 2008 and 2007.

Oct 28 · 12:41:00 PM · Source: American Banking News · Related: Discover Financial Services
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by Michael Oliveto

Lazard Ltd. (LAZ)

Lazard Ltd. said that it had a third quarter profit of $37.4 million, or 41 cents a share, compared to a loss of $77 million, or $1.17 a share. Revenue rose 1.5% to $411.7 million.

Oct 28 · 10:20:00 AM · Source: Company News Release
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by Larry Etter

Arthur J. Gallagher & Co. (AJG)

Arthur J. Gallagher today reported a third quarter profit of $41.6 million, or 41 cents a share, up from $37.8 million, or 40 cents a share, a year earlier. Revenue rose 2.6% to $439.5 million.
The insurance broker and risk-management firm also said it will reduce its work force by about 4%, or 400 positions, through a combination of cuts and attrition over the next few months.

Oct 27 · 7:33:00 PM · Source: Company News Release
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by Larry Etter

TD Ameritrade Holding Corporation (AMTD)

TD Ameritrade said today that income fell to $156.7 million, or 26 cents per share, in the fiscal fourth quarter ended on Sept. 30 from $172.0 million, or 30 cents a share, a year earlier. Revenue pushed slightly higher to $657.9 million.
Analysts on average expected the company to earn 22 cents per share and slightly lower revenue.

Oct 27 · 12:14:00 PM · Source: Company News Releaase
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by Larry Etter

Bank of New York Mellon (BK)

Bank of New York Mellon sees more acquisition opportunities in Europe than in Asia, the head of the world's largest custodian of financial assets said on Tuesday.
Robert Kelly, the bank's chairman and chief executive, said European financial institutions had been harder hit by the global economic crisis than their counterparts in Asia and were refocusing their businesses as a consequence.

Oct 27 · 12:01:00 PM · Source: Reuters
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by Michael Oliveto

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