Goldman Sachs Group Inc reported a 26% drop in quarterly profit on Wednesday, hurt by weakness in its investment banking business and higher operating costs.
Target delivers lackluster holiday season sales results. …read more […]
Bank of America Corp beat analysts’ estimates for quarterly profit on Wednesday, as the second-biggest U.S. lender’s bond trading division posted a strong showing, eclipsing declines at its three other major businesses.
PNC Financial Services Group Inc on Wednesday posted a better-than-expected fourth-quarter profit, driven by growth in its loan book.
(Bloomberg) — The Trump administration on Wednesday will announce the authorization of a roughly 3,000-acre solar farm near Palm Springs, California, after developers scaled back its size to help avoid threatened desert tortoises and cultural artifacts.First Solar Inc.’s 450-megawatt Desert Quartzite project in eastern Riverside County has been praised by some environmentalists for its careful design on lands teeming with protected species and relics.“It’s a big project, over 2,700 acres. That’s no small chunk of land, and they’re going to squeeze 450 megawatts out of that,” said Casey Hammond, the Interior Department’s acting assistant secretary of land and minerals management. …read more […]
Bank of America Corp posted a 4.1% fall in quarterly profit on Wednesday, as lower interest rates crimped the second-biggest U.S. lender’s ability to earn more from loans.
Target Corp on Wednesday reported comparable sales growth of just 1.4% for the 2019 holiday season on the back of weak demand for electronics, toys and home products, sending shares in the retailer 8% lower.
“While we knew this season was going be challenging, it was even more challenging than we expected,” Chief Executive Officer Brian Cornell said. Digital sales grew 19% compared with 2018’s 29% rise, Cornell said, calling the reported numbers a “tough miss”. Target’s numbers come just a week after several U.S. retailers including Kohl’s , J.C. Penney and Macy’s reported lower sales for the key shopping period, raising doubts about the broader health of the retail sector. …read more […]
(Bloomberg) — Target Corp. tumbled after posting holiday sales that were below its own expectations and slashing its fourth-quarter sales outlook, delivering a warning sign for the entire retail sector that tougher times lie ahead.Comparable sales — a key barometer of retail performance — rose 1.4% in the November-December period, far less than last year’s 5.7% growth. Target plans to report full fourth-quarter earnings in early March.Key InsightsTarget couldn’t escape the pressures that also weighed on department stores like J.C. Penney Co. and Kohl’s Corp. It said the sluggish growth was most pronounced by toys and electronics, which account for …read more […]
BlackRock Inc , the world’s largest asset manager, reported a 40.3% rise in fourth-quarter profit on Wednesday, as more money rolled into its low-risk exchange-traded funds and cash management business amid concerns of slowing global growth.
World stocks eased off record highs on Wednesday and U.S. and German bond yields slipped, as euphoria over a U.S.-China trade deal was tempered by U.S. Treasury Secretary Steven Mnuchin saying tariffs on Chinese goods would remain in place for now.
U.S. wireless carriers T-Mobile US Inc and Sprint Corp are expected to urge a federal judge on Wednesday to let them proceed with their $26.5 billion merger, as a group of states argues the deal violates federal antitrust laws.
BofA Global Research started its coverage of Saudi Arabia’s state oil giant Saudi Aramco with a ‘neutral’ rating on Wednesday, setting a price target of 36 riyals ($9.60) per share and saying its fundamentals were now “fully priced”.
UnitedHealth Group Inc reported a better-than-expected quarterly profit on Wednesday, as the largest U.S. health insurer benefited from higher revenue from its Optum unit, which includes its pharmacy benefits management business.
Top news and what to watch in the markets on Wednesday, January 15, 2020. …read more […]
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