Morgan Stanley's riskier trading operations have stolen the thunder from its growing brokerage -- at least for now.
Morgan Stanley's riskier trading operations have stolen the thunder from its growing brokerage -- at least for now.
Wells Fargo & Co and U.S. Bancorp posted earnings that trounced Wall Street expectations, helped by outsized revenue from underwriting mortgages.
Electronic trading services provider Knight Capital Group Inc's quarterly profit fell short of expectations, as its trading income took a hit from lower market volatility and higher regulatory transaction fees, sending its shares down 18 percent.
Morgan Stanley reported better-than expected third-quarter profit on Wednesday with results bolstered by strong fixed income sales and trading revenue and improved investment banking underwriting results.
Yahoo Inc beat Wall Street's profit and sales expectations as spending by advertisers showed signs of life in the third quarter and as months of cost-cutting and restructuring boosted the Internet company's bottom line.
* U.S. stock index futures pointed to a lower open on Wall Street on Wednesday, with futures for the S&P 500 SPc1 down 0.24 percent, Dow Jones DJc1 futures down 0.1 percent and Nasdaq 100 NDc1 futures down 0.34 percent.
President Barack Obama will announce a package of initiatives on Wednesday to increase credit to small businesses, an administration official said on Tuesday.
Qatar is selling a 1.3 billion pound ($2.1 billion) stake in British bank Barclays , stoking talk it will use a big profit to make a move on UK food retailer J. Sainsbury .
U.S. stocks rallied on Monday, extending a two-week run-up as better-than expected corporate earnings increased investors' optimism.
Diversified manufacturer Eaton Corp posted a higher-than-expected quarterly profit on Monday, citing cost cuts, early signs of recovery in its markets and a boost from the weak U.S. dollar, sending shares up 5 percent.
Investors are becoming increasingly confident in holding equities as U.S. markets continue to make new yearly highs heading into the final months of 2009, according to a client survey by Citigroup.
U.S. stocks rose on Monday in a broad-based rally after corporate results fed growing optimism the accelerating earnings season will be strong.
Bank of America Corp posted a $1 billion quarterly loss on Friday as consumer credit woes eclipsed investment banking earnings, underlining why the bank remains on a government respirator.
(Corrects spelling of McDonald's name in paragraph 4)
Merrill Lynch & Co's brokerage, the crown jewel that lured Bank of America Corp's chief executive into a takeover that ultimately cost him his job, is showing signs of a revival.
Citigroup Inc is considering listing its Brazilian or Latin American units to raise cash for expansion, Valor Economico newspaper said on Friday.
Tech Earnings Strong; Financials Mixed; Economy Healing
The Dow industrials and the S&P 500 climbed on Thursday to 2009 closing highs, buoyed by energy stocks as oil prices jumped, but financials retreated as investors panned results from Goldman Sachs and Citigroup.
U.S. stocks were little changed on Thursday after Goldman Sachs Group and Citigroup Inc's quarterly results fell short of some investors' expectations, a day after major indexes rallied to fresh highs for 2009.
Goldman Sachs Group Inc quarterly earnings nearly quadrupled, topping expectations, but its shares fell on disappointment that so much of the profit came from trading gains that might not be sustainable.
American International Group Inc said on Thursday it expects to recognize a loss of about $1.4 billion on the sale of Nan Shan Life Insurance Co, its life insurance unit in Taiwan.
