Breaking News
Apr 19, 2023
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Morgan Stanley, the financial services provider, said first quarter revenue and earnings fell.
Revenue in the first quarter decreased to $14.5 billion from $14.8 billion and net income dropped to $3.0 billion from $3.7 billion and diluted earnings per share eased to $1.70 from $2.02 a year ago.
Revenue in the institutional securities segment decreased to $6.7 billion from $7.8 billion, wealth management increased to $6.5 billion from $5.9 billion and investment management declined to $1.28 billion from $1.33 billion a year ago.
Assets under management dropped to $1.34 trillion from $1.44 trillion a year ago. -
Fox Corp agreed to pay $787.50 million to settle a lawsuit brought by Dominion Voting System and avoided a 6-week trial.
Dominion had asked for $1.6 billion in damages but settled for a smaller amount after Fox News and its cable affiliates repeatedly aired false claims that the voting machine maker had helped rig the 2020 presidential election in favor of Joe Biden against Donald Trump. -
Ally Financial Inc company reported better-than-expected first quarter results and said retail deposits increased on record net new deposit customers.
Retail deposits increased $813 million from a record 126,000 net new deposit customers.
Revenue in the first quarter decreased to $1.61 billion from $1.68 billion and net income plunged to $219 million from $627 million and diluted earnings per share fell to 96 cents from $1.86 a year ago.
Net interest margin decreased 42 basis points to 3.51% and provision for credit losses increased $279 million to $446 million, reflecting rising interest rates and stretched consumer finances. -
ASML Holding NV, the advanced semiconductor equipment maker, said revenue in the first quarter increased to €6.7 billion from €6.4 billion a year ago.
Net income in the first quarter increased to €1.95 billion from €1.81 billion and diluted earnings per share rose €4.96 from €4.60 a year ago.
Net booking in the quarter declined to €3.8 billion compared to €6.3 billion in the fourth quarter.
ASML forecasted second quarter 2023 net sales between €6.5 billion and €7.0 billion and a gross margin between 50% and 51%. -
Baker Hughes Co increased 1.7% to $30.01 after the oilfield services provider said new orders and revenue rose in double digits in the first quarter.
Revenue increased 19% to $5.7 billion and net income soared to $576 million from $72 million and diluted earnings per share increased to 57 cents from 8 cents a year ago.
North America revenue increased 20% to $992 million and international revenue rose 18% to $2.58 billion. In the quarter, well construction revenue increased 20% to $1.06 billion, completions, interventions and measurements advanced 16% to $909 million, production solutions gained 14% and subsea and surface pressure systems jumped 27% to $670 million.
New orders increased 12% to $7.6 billion from $6.8 billion a year ago and decreased 5% from $8 billion in the fourth quarter. -
Nasdaq, Inc, the stock exchange operator, reported revenue in the first quarter increased 2% to $914 million and net income rose to $302 million from $284 million and diluted earnings per share advanced to 61 cents from 57 cents a year ago.
The company repurchased $159 million in shares of its common stock during the first quarter of 2023 and as of the end of the first quarter there was $491 million still available for repurchase.
The company returned $257 million to shareholders in the first quarter, including $159 million in share repurchases and $98 million in dividends.
Nasdaq increased its quarterly dividend by 10% to 22 cents payable on June 30 to shareholders of record at the close of business on June 16. -
United Airlines Holdings Inc said revenue in the first quarter soared 51% to $11.4 billion from $7.5 billion after capacity increased 23.4% from a year ago.
Net loss in the quarter shrank to $194 million from $1.38 billion and diluted loss per share declined to 59 cents from $4.24 a year ago. Total revenue per available seat mile increased 22.5% and cost per available seat mile rose 4.0%.
Average fuel price per gallon was $3.33 in the first quarter, lower than the $3.54 price in the fourth quarter and higher than the $2.88 price per gallon in the quarter a year ago. -
Intuitive Surgical Inc said revenue in the first quarter increased 14% to $1.7 billion from $1.5 billion and worldwide da Vinci procedures rose 26% from a year ago.
Net income declined to $355.3 million from $365.6 million and diluted earnings per share was unchanged at $1.0.
The company installed 312 da Vinci surgical systems in the first quarter compared to 311 in the period a year ago, increasing its installed base 12% to 7,779 from 6,920 at the end of the first quarter of 2022. -
Western Alliance Bancorporation soared 25% to $40.59 after the regional bank reported earnings ahead of expectations and deposits stabilized.
Net interest income rose 35.7% to $609.9 million but net income plunged 40.8% to $142.2 million from $240.1 million and diluted earnings per share declined to $1.28 from $2.22 a year ago.
Total deposits declined 8.8% to $47.6 billion from $52.1 billion, total assets rose 17.3% to $71 billion and loans held-for-investment increased 12.9% to $46.3 billion.
Since March 31, deposits have increased an additional $2.0 billion through April 14, with total insured deposits representing 73% of total deposits, which is "well above industry norms compared to the 50 largest U.S. banks," said the company. -
Charles Schwab Corporation, the online stock broker and financial services provider, reported better-than-expected earnings in its latest quarter.
Revenue in the first quarter increased 10% to $5.1 billion and net income rose 14% to $1.6 billion from $1.4 billion and diluted earnings per share advanced to 83 cents from 67 cents a year ago.
Schwab attracted net new one million accounts with core net new assets of $132 billion in the quarter, including $51 billion in March.
Apr 18, 2023