CME Group tops profit estimates on higher market volatility

(Reuters) – CME Group’s fourth-quarter profit trounced Wall Street estimates on Thursday, as a broad market sell-off toward the end of the quarter prompted investors to rebalance their portfolios and boosted trading volumes. Fears of a U.S. slowdown and the U.S.-China trade war spiked market volatility in the quarter ended Dec. 31, which helped exchange operators such as CME and […]

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Mexico's Walmex posts 11 percent jump in fourth-quarter net profit

MEXICO CITY (Reuters) – Mexico’s largest retailer Wal Mart de Mexico reported an 11 percent rise in fourth-quarter net profit on Wednesday, far outdoing analyst estimates. The company known as Walmex saw operating income climb 13 percent over the year-earlier period, also outstripping expectations, while revenue of 177.4 billion pesos ($9 billion) rose 5.5 percent. Net profit was 11.8 billion […]

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Cisco quarterly revenue, profit beat estimates, shares rise

(Reuters) – Cisco Systems Inc reported second-quarter revenue and profit above Wall Street estimates on Wednesday, as the network gear maker benefited from strong growth in its newer businesses such as application software and cyber security. Shares of the Dow component rose 3 percent in after-market trading after the company also boosted its share buyback program by $15 billion and […]

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Rough ride: Nissan slashes outlook, unveils Ghosn-related charge

YOKOHAMA, Japan (Reuters) – Nissan Motor warned its annual profit will plumb six-year lows on waning global sales, underlining the challenges it faces as it also grapples with the fallout from the shocking arrest and ouster of its former chairman Carlos Ghosn. The Japanese automaker, in its first results since Ghosn was detained in November, unveiled an $84 million charge […]

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Online lender OnDeck quarterly profit nearly doubles

(Reuters) – Online lender OnDeck Capital Inc on Tuesday reported quarterly adjusted profit that nearly doubled, as the online lender dispensed more loans and earned more interest income. Adjusted net income rose to $15.9 million, or 20 cents per share, in the fourth quarter ended Dec. 31, compared with $8.1 million, or 10 cents per share, a year earlier. reut.rs/2Ia0Euh […]

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Fiat Chrysler shares fall 10 percent after weak 2019 guidance

MILAN (Reuters) – Fiat Chrysler (FCA) (FCHA.MI) shares fell nearly 10 percent on Thursday after the carmaker gave a weaker-than-expected guidance for profits and industrial cash flow at the group this year. The world’s seventh-largest carmaker said it expects to report 2019 adjusted earnings before interest and tax (EBIT), excluding the Magneti Marelli unit it agreed to sell, of more […]

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Societe Generale trims targets as market downturn takes toll

PARIS (Reuters) – Societe Generale has cut its profitability target after the French bank was hit by a fourth-quarter market downturn, joining other European banks battling a tough environment. The country’s third largest listed bank expects its return on tangible equity to be between 9 and 10 percent in 2020, down from a previous target of 11.5 percent. Societe Generale […]

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NYSE-owner ICE beats quarterly profit on higher transaction and clearing income

(Reuters) – Intercontinental Exchange Inc, which owns the New York Stock Exchange, reported a better-than-expected fourth-quarter profit on Thursday, helped by a surge in its transaction and clearing business due to higher trading volumes amid market volatility. Fears of a downturn in the U.S. economy and uncertainty around the U.S.-China trade war enhanced market volatility in December, roiling U.S. equities, […]

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Prudential Financial misses fourth-quarter earnings estimates

(Reuters) – Prudential Financial Inc on Wednesday missed analysts’ estimates for fourth-quarter results, reporting a 12 percent drop in adjusted quarterly operating income. A loss in Prudential’s individual life insurance business and lower operating income in its asset management unit were among the factors that drove the company’s fourth-quarter performance. The No. 1 U.S. life insurer by assets reported adjusted […]

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