Governor Phil Murphy Sees Huge Profit Margin in High Energy Prices for State Finances
TRENTON, NJ – New Jersey’s government bank accounts are about to see a huge increase in tax revenue collected from anyone who pays an electric bill, thanks to a 20% price hike…
Thermo Fisher forecasts 2024 profit below estimates on biotech demand slump
(Reuters) -Medical equipment maker Thermo Fisher Scientific forecast annual profit and revenue below Wall Street estimates on Wednesday, signaling that a slump in demand for its services used to make therapeutics and…
Insurer Chubb’s Q4 profit surges on stronger underwriting, investment returns
(Reuters) – Chubb Limited reported a surge in fourth-quarter adjusted profit on Tuesday, helped by stronger underwriting and investment incomes, sending U.S.-listed shares of the insurer up 2.8% in after-market trading. The…
Water heater maker A. O. Smith quarterly profit beats estimates
(Reuters) – A. O. Smith beat fourth-quarter profit estimates on Tuesday, helped by strong demand for its water heaters in North America. The Milwaukee, Wisconsin-based company also benefited from a shift towards…
MSCI quarterly profit rises on subscription strength
(Reuters) – Global index provider MSCI posted a higher fourth-quarter profit on Tuesday, as its product subscriptions benefited from a market recovery led by bets that the U.S. Federal Reserve is nearing…
Nucor’s fourth-quarter sales, profit decline on lower pricing, volumes
(Reuters) – Steelmaker Nucor Corp posted a decline in its fourth-quarter profit on Monday, hurt by lower pricing of its products and sales volumes across all its segments. The Charlotte, North Carolina-based…
Franklin Templeton beats profit estimates on equity, fixed-income strength
(Reuters) – Franklin Resources reported higher-than-expected profit for the first quarter on Monday, thanks to strength in its equity and fixed-income products. Shares of the investment manager, better known as Franklin Templeton,…
Norfolk Southern misses profit estimates, says it took $1.1 billion hit from derailment in 2023
(Reuters) – Norfolk Southern reported fourth-quarter profit below analysts’ estimates on Friday, hurt by lower revenue across the U.S. railroad operator’s merchandise, intermodal and coal businesses, sending its shares down more than…
Weyerhaeuser adjusted profit chipped by tepid wood products sales
(Reuters) – U.S. timber company Weyerhaeuser posted a lower adjusted profit on Thursday, hit by weakness in its wood products business. The Seattle, Washington-based firm reported an adjusted net profit of $121…
Arthur J. Gallagher’s fourth-quarter profit rises on commissions, fee growth
(Reuters) – Arthur J. Gallagher reported a rise in fourth-quarter adjusted profit on Thursday, as the insurer brokerage earned more commissions and fees. Resilient demand for insurance products helped its brokerage business,…
Capital One’s profit drops on higher credit loss provisions, FDIC charge
(Reuters) – Capital One Financial posted a 43% drop in its fourth-quarter profit on Thursday, as the credit card lender set aside more funds to cover souring loans and recorded a charge…
American Airlines forecasts 2024 profit largely above estimates
(Reuters) – American Airlines Group forecast 2024 profit largely above Wall Street expectations on Thursday as the carrier benefits from strong demand for international travel. The company expects full-year adjusted earnings per…
Alaska Air sees $150 million profit hit from MAX 9 groundings
(Reuters) -Alaska Air Group, the operator of the Boeing plane that suffered a mid-air incident earlier this month, said on Thursday it expects a $150-million profit hit in 2024 from the more-than-two-week-long…
Ameriprise Financial’s Q4 profit rises as fees, AUM climb
(Reuters) – Ameriprise Financial reported a rise in fourth-quarter adjusted profit on Wednesday, as the financial adviser benefited from higher fees and assets under management. Increasing expectations about a soft landing for…
Railroad operator CSX’s profit falls 13% on lower fuel surcharge, shipments
(Reuters) – U.S. railroad operator CSX Corp reported a 13% drop in fourth-quarter profit on Wednesday, weighed down by dip in revenues from fuel surcharge, intermodal storage and trucking. The company’s net…
United Rentals fourth-quarter profit rises 6.25% on equipment demand
(Reuters) – Equipment rental firm United Rentals on Wednesday posted a 6.25% rise in fourth-quarter profit, on the back of robust demand for industrial tools. U.S. companies have ramped up their manufacturing…
Raymond James’ Q1 profit rises on capital markets, asset management strength
(Reuters) – Raymond James reported a rise in first-quarter adjusted profit on Wednesday, helped by strong performance of its capital markets and asset management businesses. M&A activity in the U.S. has shown…
W R Berkley’s Q4 profit rises on stronger underwriting, investment returns
(Reuters) – Insurer W R Berkley reported a rise in fourth-quarter profit on Wednesday, helped by higher premiums and a surge in investment income. Heightened expectations of a soft landing have boosted…
Sensor maker TE Connectivity beats profit estimates, forecasts robust Q2 earnings
(Reuters) – TE Connectivity Ltd on Wednesday provided an upbeat forecast for second-quarter profit after reporting a better-than-expected quarterly profit, helped by component demand from electric vehicle makers. Shares of the Switzerland-based…
Oilfield firm Baker Hughes beats profit estimates on international demand, LNG bets
(Reuters) -U.S. oilfield technology firm Baker Hughes beat Wall Street estimates for fourth-quarter profit on Tuesday, powered by strong demand for its services and equipment from LNG producers, as well as offshore…
PACCAR beats quarterly profit, revenue estimates on demand for newer truck models
(Reuters) – PACCAR Inc beat estimates for fourth-quarter profit and revenue estimates on Tuesday, on sustained demand for its fuel-efficient truck models. Shares of the U.S. truck maker were up 1.5% in…
Brown & Brown’s Q4 profit jumps on robust growth in fee, investment income
(Reuters) – Insurance brokerage Brown & Brown reported an 85% surge in fourth-quarter profit to $268.6 million on Monday, helped by higher commissions and fees alongside better investment returns. The insurance industry…
Coatings maker PPG Industries beats fourth-quarter profit estimates
(Reuters) – PPG Industries beat Wall Street estimates for fourth-quarter profit on Thursday, as the industrial coatings maker benefited from increased sales of vehicles as well as strength in its aerospace segment.…
M&T Bank’s profit plunges on FDIC fee-related expense, costly deposits
(Reuters) – M&T Bank’s fourth-quarter profit plummeted 37% on Thursday, due to higher deposit costs and a special assessment fee the lender has to pay to refill a government deposit insurance fund…
Charles Schwab profit drops as costly deposits squeeze interest revenue
(Reuters) – Charles Schwab’s fourth-quarter profit fell 47% as bigger interest payments on its client deposits and debt dented gains from a jump in asset management fees, the brokerage reported on Wednesday.…
Look beyond profit to heal ‘lacerated world’, pope tells Davos leaders
By Philip Pullella VATICAN CITY (Reuters) – Pope Francis on Wednesday urged political, economic and business leaders at the World Economic Forum (WEF) in Davos to look beyond profit and try to…
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