Earnings

A sign for BlackRock Inc hangs above their building in New York. Lucas Jackson | Reuters BlackRock, the world’s largest asset manager, reported a 21% jump in quarterly profit on Friday, as investors poured money into its fixed-income funds and cash management services. The New York-based company’s net income rose to $1.21 billion, or $7.85

An employee moves a pizza to an oven at a Domino’s Pizza Inc. restaurant in Chantilly, Virginia. Andrew Harrer | Bloomberg | Getty Images Domino’s Pizza on Thursday reported that its quarterly U.S. same-store sales soared 16.1% as more consumers ordered pizza delivery and takeout during the coronavirus pandemic. Shares were down 1.5% in morning

James Gorman, chairman and chief executive officer of Morgan Stanley, appears on CNBC’s Squawk Box at the 2020 World Economic Forum in Davos, Switzerland on Jan. 22nd, 2020. Adam Galici | Getty Images Morgan Stanley is set to report second-quarter earnings before the opening bell on Thursday. Here’s what Wall Street expects: Earnings: $1.12 a

Brian Moynihan, Bank of America, speaking at the WEF at Davos, January 21, 2020 CNBC Bank of America is scheduled to report second-quarter earnings before the opening bell on Thursday. Here’s what Wall Street expects: Earnings: 27 cents a share, a 64% drop from a year earlier, according to Refinitiv. Revenue: $22 billion, a 5.3%

An ATM is shown at company headquarters for the PNC Financial Services at One PNC Plaza in Pittsburgh, Pennsylvania. Getty Images PNC Financial’s second-quarter profit more than doubled as the U.S. regional bank recorded a gain from the sale of its position in asset manager BlackRock. Net income attributable to common shareholders jumped to $3.59 billion,

Customers get information from a reception desk at a UnitedHealthcare store in Queens, New York. Michael Nagle | Bloomberg | Getty Images UnitedHealth said on Wednesday its second-quarter profit more than doubled, helped by lower medical costs due to a fall in healthcare utilization following coronavirus-fueled lockdowns and social distancing. Net earnings attributable to shareholders jumped

Earnings season may kick-off with an upside surprise. National Securities’ Art Hogan is optimistic the banks’ second quarter results will come in better than expected and help lift stocks. “I don’t think expectations for bank earnings have ever been as low as they are coming into this quarter,” the firm’s chief market strategist told CNBC’s

Citigroup on Tuesday reported second-quarter results that surpassed analyst expectations thanks in part to a massive surge in trading revenue that helped offset a slowdown in the company’s consumer banking business.  Here’s how the company’s results compared to analyst estimates: Earnings: 50 cents per share vs 28 cents per share expected by Refinitiv Revenue: $19.77 billion

Delta Air Lines passenger planes are seen parked due to flight reductions made to slow the spread of coronavirus disease (COVID-19), at Birmingham-Shuttlesworth International Airport in Birmingham, Alabama, March 25, 2020. Elijah Nouvelage | Reuters Delta Air Lines posted a $7 billion pretax loss in the second quarter, driven mostly by the coronavirus pandemic’s devastation on

People pass a sign for JPMorgan Chase at it’s headquarters in Manhattan, New York City. Spencer Platt | Getty Images Earnings season, which officially starts Tuesday with JPMorgan and Wells Fargo, is going to be wild — and unpredictable. Here’s why: About 40% of companies are not providing any guidance at all. As a result,

People volunteer for Covid-19 surveillance testing using the Quest Diagnostics self administered PCR test on on July 12, 2020 in Livingston, Montana. William Campbell | Getty Images Quest Diagnostics reported preliminary second-quarter revenue above analysts’ estimates on Monday, largely on growing demand for its Covid-19 testing services, sending its shares up 2.7% before the bell.

Pepsi soft drinks are displayed at a convenience store in San Francisco, California. Justin Sullivan | Getty Images PepsiCo on Monday reported that its quarterly revenue fell as fewer consumers bought its drinks at restaurants or convenience stores amid the coronavirus pandemic. The company did report growth for its food items, such as Cheetos and oatmeal,

A customer views merchandise for sale at a Walgreens store in the Hollywood neighborhood of Los Angeles. Christopher Lee | Bloomberg | Getty Images Walgreens Boots Alliance said Thursday its fiscal third quarter results were hurt by fewer people going to the doctor and getting prescriptions and by higher costs during the pandemic. The drugstore chain

A driver for an independent contractor to FedEx Corp. pushes a cart with packages for delivery in New York, U.S., on Monday, Nov. 26, 2018. Christopher Lee | Bloomberg | Getty Images Shares of FedEx jumped 9.4% in extended trading on Tuesday after a surge in pandemic-fueled home deliveries helped the U.S. package carrier post

Macy’s at Valencia Town Center Mall opens for curbside pickup service during COVID-19 outbreak on May 21, 2020 in Santa Clarita, California. Robin L Marshall | Getty Images Macy’s said Wednesday it swung to a first-quarter loss, in line with its previously announced estimates, as the coronavirus pandemic helped slice sales nearly in half.  Chief Executive Jeff

Michael Kors shop in Covent Garden. Dave Rushen | SOPA Images | Getty Images Michael Kors owner Capri Holdings on Wednesday estimated a bigger-than-feared 70% slump in first-quarter sales as the Covid-19 pandemic hammers demand for its luxury handbags and dresses. The closing of major shopping hubs in Europe, Asia and North America had a

A person looks into a closed Macy’s Inc. department store near Union Square in San Francisco, California, U.S., on Thursday, June 18, 2020. Michael Short | Bloomberg | Getty Images The road to recovery at Macy’s is likely going to be a rocky one because of the coronavirus pandemic.  The retailer warned Wednesday that sales are falling

Adam Jeffery | CNBC Investors should stay bearish on U.S. stocks until the full extent of the economic damage caused by the coronavirus pandemic is known, according to TS Lombard, which warned that investors were over-estimating a quick recovery in U.S. corporate earnings. Charles Dumas, chief economist at the economic research firm, told CNBC Tuesday that ”the

Micron Technology’s hard drive for data center customers is presented at a product launch event in San Francisco, October 24, 2019. Stephen Nellis | Reuters Micron Technology on Monday forecast current-quarter revenue above Wall Street estimates as home-bound employees and students spur demand for its chips that power notebooks and data centers, sending its shares

A Burger King sign outside a restaurant in Glendale, California. Robyn Beck | AFP | Getty Images Burger King’s U.S. same-store sales are trending flat as customers return to its locations for Whoppers and french fries.  The Restaurant Brands International chain saw its same-store sales plunge by mid-30s in March as the coronavirus pandemic led consumers