Business & Finance News
BMW’s second quarter earnings fell by a fifth, hit by exchange rate moves and investments in manufacturing electric and hybrid cars to help meet stricter emissions limits.
Global grain trader and food processor Archer Daniels Midland Co on Thursday reported a 41.3% drop in second-quarter adjusted profit and missed Wall Street expectations, after being battered by the U.S.-China trade war and severe U.S. weather this spring that disrupted production and transportation.
U.S. stocks bounced back on Thursday, helped by technology shares as focus shifted to corporate earnings after a cautious message from the Federal Reserve on interest rates drove some of the biggest falls since May in the previous session.
BNP Paribas analysts said late Wednesday they expect the Federal Reserve to lower key U.S. borrowing costs only one more time in 2019, with a 25 basis-point cut in September as an insurance against mounting risks.
General Motors Co posted a better-than-expected net profit on Thursday as high-margin pickup trucks, SUVs and crossovers helped overcome slowing sales in the United States and China, and reiterated its full-year earnings forecast.
U.S. stocks were subdued at open on Thursday as focus shifted back to a mixed bag of corporate earnings after a cautious message from the Federal Reserve on interest rates drove some of the biggest falls since May in the previous session.
U.S. refiner Marathon Petroleum Corp beat estimates for quarterly profit on Thursday, benefiting from better-than-expected earnings from its refining segment as well as higher sales in its gas stations business.
U.S. stocks were set to open flat on Thursday, with focus shifting back to a mixed bag of corporate earnings after a cautious message from the Federal Reserve on interest rates drove some of the biggest falls since May in the previous session.
The number of Americans filing applications for unemployment benefits increased last week, but the trend in claims remained consistent with tightening labor market conditions.
Fannie Mae’s net income fell in the second quarter from a year-ago due to losses on its derivatives, while it is expected to pay $3.4 billion in dividends to the U.S. Treasury, the No. 1 U.S. mortgage financing agency said on Thursday.
The number of Americans filing applications for unemployment benefits increased last week, but the trend in claims remained consistent with tightening labor market conditions.
Kellogg Co beat Wall Street expectations for quarterly sales and profit on Thursday, driven by higher demand for its snacks, including Pringles and Pop-Tarts, in North America, sending its shares up about 4% before the bell.
London Stock Exchange has agreed to buy financial information provider Refinitiv in a $27 billion deal aimed at offering trading across regions and currencies and establishing the British company as a rival to Bloomberg.
Bombardier Inc on Thursday lowered its full-year core earnings and free cash flow forecasts, and reported a quarterly loss, as the Canadian plane and train maker wrestles with challenges in its important rail division.
General Motors Co on Thursday posted a flat quarterly net profit that handily beat market expectations, helped by U.S. sales of high-margin pickup trucks, SUVs and crossovers.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
