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January 18, 2020

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Reuters - Business

Goldman Sachs profit misses estimates on higher costs, weak M&A

Reuters
by Reuters06
(Reuters) – Goldman Sachs Group Inc (GS.N) on Wednesday reported quarterly profit that missed analysts’ estimates by a wide margin, hurt by weakness in its investment banking business and higher operating costs. FILE PHOTO: The ticker symbol and logo for Goldman Sachs is displayed on a screen on the floor......
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Reuters - Business

Wells Fargo’s new chief promises more change as profit slumps

Reuters
by Reuters05
(Reuters) – Wells Fargo & Co’s (WFC.N) profit slumped 55% in the fourth quarter as new boss Charles Scharf set aside another $1.5 billion for legal costs related to the bank’s sales scandal and promised “fundamental changes.” FILE PHOTO: A Wells Fargo logo is seen at the SIBOS banking and......
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Reuters - Business

Citigroup beats estimates on credit card, trading revenue growth

Reuters
by Reuters02
(Reuters) – Citigroup Inc beat analysts’ estimates for fourth-quarter profit on Tuesday, boosted by growth in its credit card business and a jump in trading revenue. FILE PHOTO: The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris......
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Reuters - Business

Citigroup profit rises 15% as credit card, trading revenue jump

Reuters
by Reuters01
FILE PHOTO: The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren (Reuters) – Citigroup Inc reported a 15% jump in fourth-quarter profit on Tuesday, driven by higher credit card and trading revenue, as well as a......
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Reuters - Business

JPMorgan profit gets boost from trading, underwriting

Reuters
by Reuters08
FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/Files (Reuters) – JPMorgan Chase & Co (JPM.N), the largest U.S. bank, posted a 21% rise in quarterly profit on Tuesday, driven by strength in its......
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Reuters - Business

As businesses hold back, U.S. consumers seen boosting big banks’ profits

Reuters
by Reuters06
NEW YORK (Reuters) – Consumer lending is expected to propel profits for big U.S. banks when they unveil fourth-quarter results this week, though stress in corporate lending and uneven capital markets may cast a shadow over results. FILE PHOTO: Signs of JP Morgan Chase Bank, Citibank and Wells Fargo &......
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Reuters - Business

Pressure for 2020 as U.S. companies report end of weak profit year

Reuters
by Reuters010
NEW YORK/SAN FRANCISCO (Reuters) – As major U.S. corporations prepare to close the books on a lackluster year of profit growth, they may need to shore up confidence that 2020 will show significant improvement to keep the stock market’s rally going. FILE PHOTO: Traders work on the floor at the......
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Reuters - Business

Walgreens profit misses estimates on pharmacy weakness

Reuters
by Reuters03
FILE PHOTO: A Walgreens pharmacy store sign is photographed in Austin, TX, U.S., March 26, 2018. REUTERS/Mohammad Khursheed/File Photo (Reuters) – Drugstore chain Walgreens Boots Alliance Inc (WBA.O) posted a quarterly profit that missed expectations on Wednesday, hurt by lower payments from insurers on drugs sold, sending shares down nearly......
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Reuters - Business

Samsung Electronics says profit fall likely milder than forecasts as chip prices bottom out

Reuters
by Reuters012
SEOUL (Reuters) – Samsung Electronics Co Ltd (005930.KS) on Wednesday said quarterly operating profit likely fell at a milder pace than analysts forecast, indicating memory chip prices bottomed out and strengthening hope of recovery from an industry downturn. FILE PHOTO: Samsung Electronic’s Galaxy A90 is seen on display at a......
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Reuters - Business

Samsung to draw line under lackluster 2019 with chip revival in store

Reuters
by Reuters06
SEOUL (Reuters) – With Samsung Electronics (005380.KS) expected to suffer its biggest annual profit drop in at least a decade, investors are counting on an expected uptick in the memory-chip market to cure the tech giant’s ills this year. FILE PHOTO: The logo of Samsung Electronics is seen at its......
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Reuters - Business

Huawei’s 2019 revenue to jump 18%, forecasts ‘difficult’ 2020

Reuters
by Reuters05
SHANGHAI (Reuters) – Huawei Technologies on Tuesday said its full-year revenue would likely jump 18% in 2019 to 850 billion yuan ($121.72 billion), lower than its earlier projections, as a U.S. trade blacklisting curbed growth and disrupted its ability to source key parts. FILE PHOTO: The Huawei logo is pictured......
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Reuters - Business

Nike quarterly results beat, but North America disappoints

Reuters
by Reuters011
(Reuters) – Nike Inc’s (NKE.N) quarterly revenue and profit blew past Wall Street expectations on Thursday on strong sales in China, but lower-than-expected growth in North America, its biggest market, overshadowed the beat. FILE PHOTO: The logo of Nike (NKE) is seen in Los Angeles, California, United States, April 12,......
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Reuters - Business

Volkswagen brand to post record profit on SUVs, cost cuts: executive

Reuters
by Reuters014
FILE PHOTO: Volkswagen sign is seen during the annual earnings news conference of VW in Berlin in Berlin, Germany, March 13, 2018. REUTERS/Hannibal Hanschke WOLFSBURG, Germany (Reuters) – Volkswagen’s (VOWG_p.DE) namesake core brand is on track to post a record operating profit this year thanks to cost savings and its......
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Reuters - Business

FedEx cuts 2020 profit, cites ‘significant challenges’

Reuters
by Reuters014
(Reuters) – FedEx Corp (FDX.N) on Tuesday issued its second warning on fiscal 2020 profit after quarterly earnings fell sharply on lackluster global trade and the end of its relationship with Amazon.com, the world’s top online retailer. FILE PHOTO: A Federal Express Ground truck travels down a highway through Carlsbad,......
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Reuters - Business

Broadcom full-year forecast gets a 5G boost

Reuters
by Reuters018
FILE PHOTO: A sign to the campus offices of chip maker Broadcom Ltd is shown in Irvine, California, U.S., November 6, 2017. REUTERS/Mike Blake (Reuters) – Broadcom Inc (AVGO.O) forecast full-year 2020 revenue above Wall Street estimates on Thursday, as the company expects to benefit from strong demand for its......
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Reuters - Business

American Eagle holiday-quarter earnings forecast below estimates on higher markdowns

Reuters
by Reuters013
An Omani man passes in front of an American fashion brand, American Eagle Outfitters in City Center Mall in Muscat, Oman, February 11, 2019. REUTERS/Hamad I Mohammed (Reuters) – American Eagle Outfitters Inc (AEO.N) forecast holiday-quarter earnings below Wall Street estimates on Wednesday, as weaker demand for its flagship AE......
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Reuters - Business

Tiffany profit falls short on weak demand in Americas, Hong Kong

Reuters
by Reuters047
(Reuters) – Luxury jeweler Tiffany & Co (TIF.N), which is being bought by Louis Vuitton owner LVMH (LVMH.PA), missed market expectations for quarterly profit and sales on Thursday, hit by lower spending by foreign tourists in the United States and Hong Kong. The jeweler has been struggling to lure price-conscious......
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Reuters - Business

Dollar General lifts profit forecast, tops third-quarter expectations on sales

Reuters
by Reuters014
FILE PHOTO: A sign is seen outside a Dollar General store in Chicago, Illinois, U.S. May 23, 2016. REUTERS/Jim Young (Reuters) – Discount store operator Dollar General Corp (DG.N) raised its full-year profit forecast on Thursday after reporting its best quarterly same-store sales rise in nearly five years, benefiting from......
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Reuters - Business

Tiffany misses quarterly same-store sales estimates

Reuters
by Reuters015
Tiffany & Co. jewelry is displayed in a store in Paris, France, November 25, 2019. REUTERS/Gonzalo Fuentes (Reuters) – Tiffany & Co (TIF.N), which is being bought by Louis Vuitton owner LVMH (LVMH.PA), fell short of Wall Street estimates for quarterly sales on Thursday as the luxury jeweler was hurt......
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Reuters - Business

Deere warns of lower profits in 2020 on lingering trade tensions

Reuters
by Reuters021
CHICAGO (Reuters) – Deere & Co. (DE.N) on Wednesday warned of lower earnings next year after reporting a fall in quarterly profits, hurt by trade tensions as well as poor weather in the U.S. farm belt that has slowed equipment purchases by farmers. FILE PHOTO: John Deere equipment is seen......
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