The first-quarter earnings season has so far generated big waves of positive surprises, which fueled the upward momentum in the stock market. However, investors should take these earnings beats with a grain of salt.
Newmont Mining Corporation (NYSE: NEM) said Friday first-quarter profit fell 4.7 percent diminished gold production and higher costs offset higher selling prices.
Wells Fargo & Co. (NYSE: WFC) annouced Friday the acquisition of prime broker Merlin Securities LLC for an undisclosed amount. The move is the bank's first move into prime brokerage services, which provides clients such as hedge fund managers to records-handling and trade-clearing services.
The Procter & Gamble Company (NYSE: PG), the world's largest consumer-goods company, said its fiscal third-quarter profit fell 16 percent, weighed down by higher commodity prices and restructuring-related costs.
Barrick Gold Corp. (NYSE: ABX), the largest gold miner, said Thursday it sold its 20.4 percent stake in Russian company Highland Gold Mining Ltd. (London: HGM) for $130 million as it seeks to unload non-core business.
The Securities and Exchange Commission launched a probe on Thursday of a program by Chesapeake Energy Corporation (NYSE: CHK) that let its founder and CEO get an ownership interest in any well drilled by the second-largest U.S. natural gas producer.
HSBC Holdings PLC (NYSE: HBC) plans to cut more than 2,200 jobs in the United Kingdom, where it's most profitable, in a bid to lower costs and boost profit margins, according to published reports.
Chesapeake Energy (NYSE: CHK), the second-largest producer of natural gas in the United States, announced on Thursday that it was stopping a controversial program that gave its chief executive officer a stake in the company's wells.
Simon Property Group (NYSE: SPG), the largest U.S. mall landlord, is expected to have higher profits in the first quarter as its strong properties drive higher revenue.
The Procter & Gamble Company (NYSE: PG), the world's largest consumer-goods company, is expected to report lower profit when it unveils its fiscal third-quarter earnings before the market opens on Friday, hurt by higher commodities costs and a stronger dollar.
Exxon Mobil Corporation (NYSE: XOM) will increase its quarterly dividend 21 percent to become the largest corporate dividend payer, according to Standard & Poor's on Wednesday.
AutoNation Inc. (NYSE: AN), Penkse Automotive Group Inc. (NYSE: PAG) and Sonic Automotive Inc.( NYSE: SAH), the three largest auto dealer groups, each reported profit growth in the first quarter, demonstrating the quarter's strong auto sales.
Strong first-quarter earnings and a slightly more positive view of the U.S. economy by the central bank offset disappointing durable goods numbers for March to boost equities and trim bonds.
International Business Machines Corp. (NYSE: IBM), the No. 2 computer company, plans to acquire private Vivisimo, a data analytics specialist, to bolster its push into handling ?Big Data.?
According to a survey released this week, oil and natural gas executives and investors think the price of natural gas will remain below $2.50 per 1,000 cubic feet for the rest of the year -- a level that is too low for the industry's growth.
Ford Motor Co. (NYSE: F), the second-largest U.S. carmaker, is expected to report Friday its first-quarter earnings plunged by 42.6 percent as gains in North America couldn't offset a slump in vehicle demand in Europe and slowing sales growth in South America and Asia.
Shares of Sprint Nextel (NYSE: S), the No. 3 U.S. telecommunications company, jumped as much as 7 percent after the company reported a lower-than-expected first-quarter loss.
Caterpillar Inc. (NYSE: CAT), the largest maker of construction and mining equipment, reported a 29 percent jump in its first-quarter profit that topped analysts' estimates and boosted its full-year outlook, as U.S. builders replaced their aging machinery and demand for mining equipment boomed.
Orders for long-lasting goods sank in March by the largest margin in three years, hurt by falling demand for commercial aircraft, the Commerce Department reported Wednesday.
European and U.S. stocks rose Tuesday as a negative sentiment the day before gave way to an upbeat, risk-on sentiment, despite weak economic news from the United States.
Apple Inc. (Nasdaq: AAPL), the world's most valuable technology company, reported second-quarter financial results that blew past analyst expectations.
Ford Motor Co. (NYSE: F) won back its investment-grade credit rating Tuesday from Fitch Ratings on the automaker's significantly improved financial performance, balance sheet repair and product portfolio improvement.
