U.S. stocks closed decidedly in the negative territory on Wednesday as high expectations regarding the Eurozone bailout were dimmed.
American Express posts third-quarter earnings of $1.24 billion, up 13% year over year. Earnings per share were $1.03 from $0.90 a year ago, beating analyst consensus estimates.
Gold mining stocks plummeted Wednesday even though the price of the metal slipped only a bit and the broader market, as measured by the S&P 500, declined modestly.
The Bank of New York Mellon Corporation (NYSE: BK) reported a third quarter net income of $651 million, or $0.53 per common share Wednesday morning, an increase of 4.7 perecent when compared with $622 million, or $0.51 per common share, in the third quarter of 2010. The results were a penny over mean analyst predictions of $0.52 per share.
Millions of homeowners are trapped in properties with underwater mortgages, with no intention (or incentive) on the horizon to make home improvements.
Coca-Cola Q3 earnings up but miss analyst estimates
otal revenues jumped by about 6.6 percent from $26.9 billion to $28.7 billion.
Jefferies downgraded its rating on shares of VMware Inc. (NYSE: VMW) to hold from buy on less conviction of upside revisions. The brokerage also lowered its price target to $90 from $100.
Wells Fargo & Company (NYSE: WFC) said its third quarter earnings grew 21 percent on improving credit quality. Its earnings came in above Street's view.
The top after-market NYSE gainers on Monday were: BlackRock International, AMR Corp, SuccessFactors, Community Health Systems and A.H. Belo Corp. The top after-market NYSE losers were: STR Holdings, STR Holdings, AGL Resources, Vaalco Energy and GNC Holdings.
Stocks suffered their worst loss in two weeks on Monday after comments from Germany's finance minister caused investors to fear Europe's solution to its debt crisis may not come fast enough.
Lowe’s chief executive officer Robert Niblock said the company has to make tough decisions to improve profitability.
The top after-market NYSE gainers on Friday are: Enzo Biochem, Louisiana-Pacific, Halliburton, Superior Energy Services and Cambrex Corp. The top after-market NYSE losers are: Gannett Co, Genco Shipping & Trading, Renesola, Sprint Nextel and Jaguar Mining Inc.
Hermes is following in the footsteps of two other shareholder advisory groups that have also recommended that certain members of the Murdoch family (and others) be removed from the board of directors.
The Chung-Hua Institution for Economic Research (CIER) reduced its forecast for the country’s economic growth this year to 4.58 percent from its previous 5.02 percent estimate.
Royal Bank of Scotland plc (NYSE: RBS), is the "most vulnerable" bank in Europe and may have to raise billions of dollars to strengthen its capital ratios, warned analysts at Credit Suisse. Dozens of British banks, including RBS, released results of new stress tests form to the European Banking Authority on Thursday.
Wall Street's commute Friday morning was disrupted as a band of hundreds involved with the Occupy Wall Street protest marched the streets of Lower Manhattan to Wall Street, obstructed by police and followed by dozens of reporters with cameras flashing. Police were seen making at least several arrests.
The Wall Street Journal newspaper has been accused of using a questionable to scheme to inflate its circulation numbers in Europe by permitting sponsor companies to purchase copies in bulk for as little as 1 cent each.
All told, BP and its partners will invest nearly £10 billion ($15.7 billion) in North Sea oil and gas properties over the next five years.
Quarterly gold production soars at El Dorado Gold, driven by Turkish mine
U.S. stocks and other global risk assets traded higher on Wednesday on more good news out of Europe.
Days before third quarter earnings season began on Tuesday with Alcoa’s (NYSE:AA) earnings report, many analysts were optimistic because expectations have been set so low.