BlackRock (NYSE: BLK) reported an 8% decline in earnings for the third quarter of 2019 due to lower non-operating income and a higher effective tax rate. The bottom line exceeded analysts’ expectations while the top line missed consensus estimates. Net income fell by 8% to $1.12 billion or $7.15 per share. However, revenue rose by…
UnitedHealth Group (NYSE: UNH) topped market expectations for revenue and earnings in the third quarter of 2019, allowing the stock to gain 2.6% in premarket hours on Tuesday. Total revenue grew 7% year-over-year to $60.4 billion, driven by double-digit growth in Optum. Revenues beat estimates of $59.7 billion. Net earnings attributable to UnitedHealth Group common…
The general mood is not very encouraging ahead of the earnings season for banks, which is about to start, and the primary concern is the Federal Reserve’s recent rate cuts. Though it will be partially offset by the reduction in interests on deposits and the healthy securities portfolios of major banks, their performance will still…
Financial service providers are set to kick off this earnings season in this week. Banking giants JPMorgan Chase (NYSE: JPM), Citigroup (NYSE: C), Wells Fargo (NYSE: WFC), Goldman Sachs (NYSE: GS) and few other fintech companies will report their recently ended quarterly results starting from Tuesday, October 15. Investment services firm Charles Schwab (NYSE: SCHW)…
JPMorgan Chase & Co. (NYSE: JPM) is slated to report third quarter 2019 earnings results on Tuesday, October 15, before the market opens. The company is expected to report earnings of $2.45 per share. This compares to earnings of $2.34 per share reported a year earlier. Revenue is expected to grow 2.4% year-over-year to $28.4…
Shares of Alcoa Corporation (NYSE: AA) have been on a downward trend for the past 18 months, and there seems to be little resistance to break the fall. Since the beginning of this year, the stock has lost a third of its value. The company is expected to report third-quarter financial results after the closing…
Citigroup Inc. (NYSE: C) is set to release its third-quarter earnings report on Tuesday, October 15, before the market opens. The results will be benefited by Branded Cards’ demand and deposits backed by digital efforts in the Consumer Banking segment. However, this could be pressurized by low-interest rates. The Federal Reserve has been planning for…
Rite Aid Corporation (NYSE: RAD) stock opened higher on Friday and is recovering from the multi-year low on August 15. Investors turned optimistic about the future after upbeat second-quarter results. The drugstore chain remained under the hands of new CEO Heyward Donigan, who is likely to aid in achieving growth in the upcoming quarters. The…
There are few pharmaceutical companies as solid as Abbott Laboratories (NYSE: ABT). Thanks to the two major acquisitions it made a couple of years ago – St. Jude Medical and Alere – the company currently has a strong and diversified product line. The stock has doubled in the past two years, and notably, the growth…
Information technology firm Infosys Limited (NYSE: INFY) said its revenues for the second quarter of 2020 jumped 10% to $3.2 billion, which was higher than the average analysts’ expectation of $3.19 billion. INFY shares were modestly up during pre-market trading hours on Friday. The top-line was boosted by Digital revenues of $1.23 million, which was…