Wells Fargo Senior EVP Mary Mack joins Yahoo Finance’s All Markets Summit Extra: Road to Recovery special and discusses some of the steps the business is taking to win back the trust of consumers. …read more […]
(Bloomberg) — Texas Instruments Inc. projected revenue in the current quarter that topped analysts’ estimates, saying orders haven’t fallen off as much in the coronavirus pandemic as they did in the last recession. The chipmaker’s executives, however, cautioned that the positive outlook isn’t a sign the economy is on the upswing.“It seems clear that things are a little shaky in the world economy,” Chief Financial Officer Rafael Lizardi said Tuesday in an interview. “My job is not to figure out where the world economy is going, it’s to put TI in the best position whatever happens.”Lizardi and his colleagues faced …read more […]
Earnings season is in full swing, and as per usual, the big banks were up first.
The numbers so far have been ugly.
Compared with results from the second quarter of 2019, the results for the second quarter of this year range from bad to really bad.
Here’s a sampling…
JPMorgan Chase (NYSE: JPM) reported that second quarter earnings were down 52% from $2.82 per share in 2019 to just $1.38 per share this year.
Bank of America (NYSE: BAC) saw second quarter earnings cut in half from $0.74 per share last year to $0.37 per share this time around.
Citigroup (NYSE: C) saw earnings fall …read more […]
In the first full quarter under the coronavirus pandemic, Snap revenue and DAUs grew — but the latter wasn’t enough to meet expectations. …read more […]
Typically, when a public company reports earnings, it highlights a positive in its release, no matter how much money it lost in the previous three months. But on Tuesday, United Airlines did not spin, telling investors it recently completed “the most difficult financial quarter in its 94-year-history.” United reported a net loss of $1.6 billion, […] …read more […]
(Bloomberg) — Fannie Mae could be worthless to public shareholders, according to its newest analyst.Federal National Mortgage Association drew an underperform rating and a price target of zero dollars from Wedbush analyst Henry Coffey, who started coverage Tuesday. In May the Federal Housing Finance Agency proposed that Fannie Mae and fellow mortgage giant Freddie Mac be required to hold hundreds of billions of dollars in capital to guard against losses.Despite the “tremendous underlying value” in the company, any recapitalization of Fannie Mae is likely to result in substantial dilution to public shareholders, Coffey wrote in a report. He is one …read more […]
Yahoo Finance talks about the road to recovery from the COVID-19 pandemic for cruise giant Carnival Corp. with CEO Arnold Donald. …read more […]
(Bloomberg) — Tesla Inc. Chief Executive Officer Elon Musk unlocked the second chunk of his moonshot pay award.The electric-car maker’s average trailing market value over six months rose above $150 billion on Tuesday, according to data compiled by Bloomberg, despite a dip in the company’s share price. That means Musk is now able to exercise an additional 1.69 million stock options, though he must wait at least five years before he can sell them.The options have a strike price of $350.02, meaning he would reap a $2.1 billion gain if he exercised and could immediately sell the shares.Musk unlocked the …read more […]
Stocks held mostly higher after European Union leaders agreed to a breakthrough stimulus deal to help support the virus-stricken region. The Nasdaq Composite hit a record high before retreating. The Final Round panel breaks down the details. …read more […]
Snap has focused on helping advertisers increase sales directly from Snap ads, which contributed to the company’s revenue growth at a time when many brands have been cutting marketing budgets due to the pandemic. The company has also positioned itself as a safe platform for brands to advertise on, as more than 1,000 companies have paused ads on larger rival Facebook Inc due to concerns about hate speech. Chief Financial Officer Derek Andersen said third-quarter revenue growth was 32% through July 19. …read more […]
Snapchat boosted its daily active user rolls with a hefty gain of 9 million in the second quarter of 2020, as the company grew revenue 17% year over year to beat analyst expectations. But investors appeared to have been expecting a bigger coronavirus-fueled lift from still-unprofitable Snap, which again — citing the pandemic — did […] …read more […]
(Bloomberg) — Texas Instruments Inc. projected third-quarter revenue that topped analysts’ estimates, indicating the company is seeing increased orders from customers trying to cushion themselves against any supply disruptions as the coronavirus pandemic drags on.Earnings will be $1.14 to $1.34 a share, on revenue of $3.26 billion to $3.54 billion, in the period ending in September, the Dallas-based chipmaker said Tuesday in a statement. On average, analysts predicted profit of 98 cents and sales of $3.07 billion, according to data compiled by Bloomberg.Covid-19 illnesses have shut factories and transportation worldwide, placing an unprecedented strain on a global supply chain that …read more […]
American Airlines and United Airlines, along with Iberia Airlines’ owner International Airlines Group and Lufthansa Group, want regulators to permit more American and Europeans to travel on transatlantic flights, arguing they need more customers on these routes for their businesses to recover. “Given the unquestioned importance of transatlantic air travel to the global economy as […] …read more […]
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