Business & Finance News
Shares of SmileDirectClub Inc rose 17.4% on Tuesday after the online dentistry company said it would sell aligners directly to dentists, widening its distribution channel after a deal with rival Align Technology Inc expired last month.
Wells Fargo & Co’s 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.”
China’s yuan was slightly weaker on Tuesday after earlier hitting its highest level since July, while the Japanese yen dropped to eight-month lows before the United States and China are due to sign a preliminary trade agreement to ease their 18-month old tariff war.
Former boss and the fifth-largest shareholder of Stobart Group Ltd William Andrew Tinkler dissolved his stake in the infrastructure and support services company, according to a regulatory filing published on Tuesday.
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.
Wall Street was set to open largely flat on Tuesday, as investors took a breather following a record rally on optimism over the U.S.-China trade deal, while the big U.S. banks reported mixed quarterly results.
JPMorgan Chase & Co posted its biggest-ever annual profit on Tuesday as its bond trading business bounced back in the last three months of the year, setting an upbeat tone for the big U.S. banks reporting this week.
U.S. consumer prices rose slightly less than expected in December and monthly underlying inflation pressures retreated, which could allow the Federal Reserve to keep interest rates unchanged at least through this year.
Delta Air Lines Inc on Tuesday reported a fourth-quarter profit that beat estimates, boosted in part by customers it gained from rival airlines’ 737 MAX cancellations and growing air travel demand.
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.
Wells Fargo & Co reported a 55% slump in fourth-quarter profit on Tuesday, as the fallout from a sales scandal that erupted in 2016 drove the bank to set aside another $1.5 billion toward legal expenses.
Citigroup Inc reported a 15% jump in fourth-quarter profit on Tuesday, driven by higher credit card and trading revenue, as well as a lower tax bill.
Wells Fargo & Co reported a 55% fall in quarterly profit on Tuesday, as it struggled to grow in a lower interest rate environment and saw a surge in cost stemming from the regulatory fallout of a series of sales scandals.
Delta Air Lines Inc on Tuesday reported a fourth-quarter profit that beat estimates, boosted by customers gained from rival airlines’ 737 MAX cancellations and what Chief Executive Ed Bastian said was a growing preference for the Delta brand.
U.S. stock index futures were flat to slightly lower on Tuesday, as investors took a breather following a record rally, even as JPMorgan’s quarterly results set a positive tone for big bank earnings.
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