Halliburton says pricing woes bottoming out as U.S. activity rises

(Reuters) – Halliburton Co said on Monday a pricing downturn that has plagued the oilfield services sector was bottoming out, as it reported modestly higher activity levels in North America in the first quarter from a year earlier. Oilfield services providers have been struggling with a tightening of spending by U.S. oil producers as they rein in new drilling in […]

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UPDATE 1-Travelers profit beats on lower catastrophe losses

(Adds estimates, first-quarter details) April 18 (Reuters) – Insurer Travelers Companies Inc’s quarterly profit beat analysts’ estimates on Thursday, as improved underwriting and lower catastrophe losses offset a decline in net investment income. New York-based Travelers, often seen as a bellwether for the insurance sector, said its net written premiums rose 3 percent to $7.06 billion in the first quarter, […]

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Morgan Stanley leans on wealth management to beat estimates

(Reuters) – Morgan Stanley reported a 9 percent drop in quarterly earnings on Wednesday, but managed to beat analyst estimates through slight growth in its wealth management business, as well as cost cuts. Shares of the sixth-largest U.S. bank rose 2.3 percent to $48.10 in premarket trading. Morgan Stanley gets about half its annual revenue from wealth management, which helps […]

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PepsiCo results beat on boost from North American snacks, beverages units

(Reuters) – PepsiCo Inc reported first-quarter sales and profit above analysts’ estimates on Wednesday, boosted by higher demand for its snacks, sparkling water and low-sugar sodas, sending its shares up about 2 percent before the bell. Beverage and packaged food companies have been under pressure from changing consumer preferences and Pepsi has responded by coming up with new recipes and […]

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BlackRock's Fink says he expects 'huge' inflows into stocks

NEW YORK, April 16 (Reuters) – The U.S. economy is speeding up again after a slowdown and the market is getting ready for ‘huge’ inflows into stocks, BlackRock Inc’s Chief Executive Larry Fink told Reuters in an interview on Tuesday. BlackRock, the world’s largest asset manager, reported a better-than-expected first-quarter profit on Tuesday and garnered tens of billions of dollars […]

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BlackRock quarterly profit falls 3.3 pct

April 16 (Reuters) – BlackRock Inc, the world’s largest asset manager, on Tuesday reported a 3.3 percent drop in quarterly profit, as investors shunned its expensive funds and flocked toward low risk, inexpensive funds. Net income attributable to BlackRock fell to $1.05 billion, or $6.61 per share, in the first quarter ended March 31 from $1.09 billion, or $6.68 per […]

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JPMorgan profit beat eases fear of slowing economy

(Reuters) – JPMorgan Chase & Co posted a better-than-expected quarterly profit on Friday, easing fears that slowing economic growth could weigh on its results. The largest U.S. bank by assets showed strength across its businesses in the first quarter, driven by what Chief Executive Jamie Dimon described as solid growth in the U.S. economy, moderate inflation and strong consumer and […]

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UPDATE 1-China's Huawei posts higher profit as smartphone sales hit record

* Annual profit growth of 25 percent slower versus 2017 * Consumer business sales hit record 348.9 billion yuan * Global revenue crosses $100 billion mark for first time By Anne Marie Roantree and Sijia Jiang SHENZHEN/HONG KONG, March 29 (Reuters) – China’s Huawei Technologies, the world’s third-biggest maker of smartphones, turned in a higher annual profit on record handset […]

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SecureWorks' revenue retention rate falls in 2019, shares plunge

(Reuters) – SecureWorks Corp said on Wednesday its revenue retention rate has dropped in 2019, raising concerns about customer commitment to the cybersecurity firm’s products, sending shares down nearly 10 percent. The Atlanta-based company, which is owned by Dell Technologies Inc, said 2019 revenue retention was at 89 percent compared to 96 percent in 2018. Excluding the impact of a […]

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