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    • Breaking News
    Oct 13, 2023
    • Activision Blizzard Inc jumped 0.1% to $94.64 after the UK regulator approved the purchase of the company by Microsoft Corp. 

      Microsoft edged lower a fraction to $330.98. 
      • Citigroup Inc advanced 2.4% to $42.85 after the bank reported a surge in earnings on the back of higher interest rates in the third quarter. 

        Revenue in the third quarter increased 9% to $20.1 billion from $18.5 billion and net income increased 2% to $3.54 billion from $3.47 billion and diluted earnings per share was unchanged at $1.63 compared to a year ago. 

        Citigroup's total allowance for credit losses was approximately $17.6 billion compared to $16.3 billion at the end of the quarter a year ago , with a reserve-to-funded loans ratio of 2.68%, compared to  2.54% at the end of the prior-year period. 
        • Wells Fargo & Company advanced 2.4% to $40.70 after the bank reported a surge in net interest income in the third quarter. 

          Total revenue increased to $20.8 billion from $19.6 billion and net income advanced to $5.7 billion from $3.6 billion and diluted earnings per share surged to $1.48 from 86 cents a year ago. 

          Provision for credit losses increased to $1.2 billion from $784 million a year ago. 

          The company repurchased 33.8 million shares of $1.5 billion of its common stock in the third quarter. 
          • JPMorgan Chase & Company increased 1.1% to $147.49 after the bank reported a surge in revenue and earnings in the third quarter. 

            The bank benefited from higher interest rates and lower provision for credit losses. 

            Revenue increased 22% to $39.8 billion $32.7 billion and net income soared 35% to $13.2 billion from $$9.7 billion and diluted earnings per share advanced to $4.33 from $3.12 from a year ago. 

            Net income attributable to First Republic was $1.1 billion in the quarter. 

            The bank set aside $1.3 billion for potential credit losses compared to the $2.39 billion estimate. 
            • Oct 12, 2023
            • The consumer price index rose 0.4% in September and jumped 3.7% from a year ago, the U.S. Bureau of Labor Statistics reported Thursday. 

              Core inflation, which excludes volatile food and energy prices, rose 4.1% from a year ago, the slowest pace of increase since September 2021. 

              On a monthly basis, overall consumer price inflation declined to 0.4% from 0.6% increase in the previous month and core inflation held steady at 0.3%. 
              • Ford Motor Company declined 2.2% to $11.98 after United Auto Workers expanded its strike to a key plant in Kentucky where the company builds popular SUVs. 
                • Delta Air Lines jumped 3% to $37.10 after the international carrier said third-quarter earnings soared 60% from a year ago on strong travel demand.  

                  Revenue in the September quarter jumped 11% to $15.5 billion from $14.0 billion and net income rose 59% to $1.1 billion from $695 million and diluted earnings per share advanced to $1.72 from $1.08.

                  The company repaid $3.7 billion of debt year-to-date and management anticipated to repay over $4 billion in the year. 

                  Standard & Poor's in August revised the airline's debt rating to BB+ with a "positive outlook."

                  The company forecasted total revenue in the December quarter to increase between 9% and 12%.  
                  • Walgreens Boots Alliance increased 0.8% to $22.89 after the retail pharmacy chain reported mixed quarterly results and forecasted weak annual earnings growth outlook. 

                    Revenue in the fiscal fourth quarter  ending in August increased to $35.4 billion from $32.4 billion and net loss shrank from $180 million from $415 million and diluted loss per share fell to 21 cents from 48 cents a year ago. 

                    Fiscal 2023 sales increased 4.8% to $139.1 billion from $132.7 billion and net income swung to a loss of $3.1 billion from $4.3 billion a year ago. 

                    Earnings in the year were impacted by the sharp decline in Covid-19 testing and vaccine volumes.   

                    The pharmacy retail chain guided fiscal 2024 sales in the range between $141 billion and $145 billion and adjusted earnings per share between $3.20 and $3.50. 
                    • Domino's Pizza Inc declined 3.4%  to $346.50 after the food company reported weaker-than-expected earnings and sales at U.S. comparable locations declined 0.6%. 

                      Total revenue in the quarter ending on August 10 eased to $1.02 billion from $1.06 billion and net income soared to $147.7 million from $100.5 million and diluted earnings per share surged to $4.18 from $2.79 a year ago. 

                      Excluding the impact of the  closure of the Russia market, the global net store count in the third quarter was 135 stores, comprising 27 net U.S. and 108 net international store openings.

                      The pizza delivery company forecasted its 2023 global net store growth "to trend at or slightly below the low-end" of its 5% to 7% two- to three-year outlook. 

                      Additionally, the company estimated its 2023 global retail sales growth, excluding foreign currency impact, "to trend modestly below the midpoint" of its 4% to 8% two -to three-year outlook.
                      • Oct 11, 2023
                      • Sherwin-Williams Company was unchanged at $252.0 and the company said President Heidi G Petz will assume additional role of chief executive from the  start of 2024.