Goldman's second-quarter profit soars on strong bond trading revenue
Goldman Sachs Group Inc's (GS.N) quarterly profit soared 78 percent, handily beating expectations, as the Wall Street bank earned more from bond trading and debt underwriting. Revenue from trading fixed income, commodities and currencies jumped 20 percent to $1.93 billion in the second quarter while total revenue from trading rose 2 percent to $3.68 billion. Investors have been watching Goldman's fixed income unit closely. The company has said it remained committed to the business even as r..>> view originalJ&J raises 2016 forecast; shares on track for record high
Johnson & Johnson (JNJ.N) raised its 2016 sales and earnings forecast and reported quarterly results that beat Wall Street estimates, helped by strength in its prescription drugs business.Shares of the diversified healthcare company were up about 3 percent at $127 in premarket trading on Tuesday, on track to hit a record high at open.J&J, which is the first major U.S. drugmaker to announce quarterly earnings, raised its 2016 sales forecast to a range of $71.5 billion to $72.2 billion, from $71..>> view originalUnitedHealth's Profit Surges, yet Affordable Care Act Drags
By TOM MURPHY, AP Health Writer UnitedHealth's second-quarter earnings jumped 11 percent to trump expectations even though the nation's largest health insurer took a bigger hit than expected from coverage linked to the Affordable Care Act. The Minnetonka, Minnesota, company said Tuesday that losses from its ACA-compliant individual business came in $200 million above projections, which means the company now expects to lose around $850 million this year from what is essentially a small slic..>> view originalService Protect will automatically detect when your flight is delayed and request compensation
Service is an app we’ve covered before – the startup acts as an intermediary between you and businesses where you’ve had bad experiences. So this means whenever your bags are lost by an airline or a restaurant ruins your meal, Service will interface with the business on your behalf to help make things right in the form of a refund, credit, etc. After being in business a year the company has been downloaded 50,000 times and saved/recouped customers a total of $1M dollars. But the current versio..>> view originalMonsanto Rejects Bayer's Sweetened Merger Offer
Monsanto Co. on Tuesday again rejected Bayer AG’s takeover proposal, saying Bayer’s improved $65 billion bid still undervalued the biotech seed giant—but it left the door open to further talks with Bayer and “other parties.” Monsanto called Bayer’s bid, which the German company raised last week, “financially inadequate” and “insufficient to...>> view originalYahoo's Eluded Sale Process: Could This Solve The Puzzle?
US stocks trade lower as investors digest second-quarter earnings
On tap this week: *Planner subject to change. Tuesday: Earnings before the bell: Goldman Sachs, Johnson & Johnson, Novartis, Philip Morris, UnitedHealth, Comerica, LM Ericsson Telefon, Lockheed Martin, Prologis, Regions Fincl., TD Ameritrade, Wipro, WW Grainger Earnings after the bell: ATB: Microsoft, Cintas, Discover Financial Wednesday: 7 a.m. Mortgage Applications 10:30 a.m. Oil Inventories Earnings before the bell: Abbott Labs, Halliburton, Morgan Stanley, SAP, Canad..>> view originalIMF: Brexit is slowing world economy — and it could be worse
(Thomas Lohnes/Getty Images) The International Monetary Fund lowered its forecast for global economic growth yet again Wednesday, citing the long shadow cast by Britain’s decision to leave the European Union. The fund now predicts the world economy will expand by 3.1 percent this year and 3.4 percent in 2017. Both estimates are down one-tenth of a percentage point compared to forecasts this spring. Britain is expected to experience the most dramatic consequences, with the IMF slashing its f..>> view originalPhilip Morris (PM) Q2 Earnings and Sales Miss Estimates
Philip Morris International Inc. (PM - Analyst Report) reported adjusted second-quarter 2016 earnings per share of $1.15 that missed the Zacks Consensus Estimate of $1.21 by 4.95%. Earnings also slipped 5.0% from the prior-year quarter figure due to soft sales.Excluding an unfavorable currency impact of 8 cents, earnings inched up 1.7% year over year.Revenues & MarginsNet revenue was down 3.1% (up 1.4% excluding currency) to $6.65 billion and also lagged the Zacks Consensus Estimate of $6.79..>> view original
Friday, July 22, 2016
Goldman's second-quarter profit soars on strong bond trading revenue and other top stories.
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