Morgan Stanley earnings surged amid US earning season

July 18, 2013
Morgan Stanley earnings surged amid US earning season

Morgan Stanley reported its second quarter net income almost doubled to $980 million following a jump in demand for trading and investment banking activity. Revenues rose 22% to $8.5 billion in the three months to July. Adjusted earnings per share, which strip out the effect of an acquisition were 45 […]

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Disney cut costs such as car allowances to boost profits

July 18, 2013
Disney cut costs such as car allowances to boost profits

Walt Disney Co. is removing some benefits such as executive car allowances as the world’s biggest entertainment company looks to further boost profitability. Disney has been reducing costs by cutting hundreds of jobs, closing offices and outsourcing duties like video-game development as it looks to create bigger profit margins and […]

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US stock index futures almost unchanged, as jobless claims drop

July 18, 2013
US stock index futures almost unchanged, as jobless claims drop

U.S. stock futures slightly advanced, indicating a second day of modest gains for benchmark indexes, as jobless claims fell to a two-month low and investors awaited Federal Reserve Chairman Ben Bernanke’s testimony. Future contracts on the Standard & Poor’s 500 Index expiring in September gained 0.2% to 1,679.20 at 9:00 […]

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Nokia and Ericsson’s shares fall

July 18, 2013
Nokia and Ericsson’s shares fall

Nokia shares fell as the smart phone maker sold the fewest number of mobile phones in a quarter of eight years as shipments of both top-end smartphones and basic devices disappointed. The sales of 61.1 million mobile devices in second quarter are highly disappointing comparing to analysts’ average estimated 63.5. […]

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Intel earnings drop, triggered by weak PC sales

July 18, 2013
Intel earnings drop, triggered by  weak PC sales

Intel has cut its financial forecasts for the rest of the year after concluding that sluggish PC market would not see the recovery it had been expecting in the second half of 2013. Brian Krzanich, the company’s new chief executive, explained that the world’s biggest chip-maker had been shifting strategy […]

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IBM tops estimates, adjusts company outlook

July 18, 2013
IBM tops estimates, adjusts company outlook

IBM adjusted its operating profit forecast for the year after beating analysts’ earnings forecasts for the second quarter, but said that an asset sale was now unlikely before the end of 2013. Last three months, IBM said revenue fell 3.3% to $24.9 billion, missing analysts’ estimates of $25.4 billion for […]

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US stocks rose Bernanke awaits more positive data

July 18, 2013
US stocks rose Bernanke awaits more positive data

U.S. stocks advance, after the Standard & Poor’s 500 Index broke an eight day streak of gains yesterday, as Federal Reserve Chairman Ben S. Bernanke said the central bank’s actions still depend on upcoming data. The S&P 500 jumped back 0.3% to 1,680.91 at 4 p.m. in New York, after […]

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US stock index futures almost unchanged, awaiting Bernanke’s comments

July 17, 2013
US stock index futures almost unchanged, awaiting Bernanke’s comments

U.S. stock index futures were little changed as investors are focusing their attention on Federal Reserve Chairman Ben S. Bernanke’s testimony to Congress and as Bank of England officials dropped their calls for more bond purchases. Futures on the Standard & Poor’s 500 Index expiring in September change upward less […]

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Ford and Opel on opposite sides in European market

July 17, 2013
Ford and Opel on opposite sides in European market

Ford vehicle registrations in June climbed by 6.9% from a year earlier, compared with a 7.2% combined decline for GM’s Adam Opel and Vauxhall brand registrations and the 6.3% contraction in Europe as a whole, according to the European Automobile Manufacturers’ Association. The association collects data only on new passenger-car […]

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BHP profit report boosted by Western Australia operations

July 17, 2013
BHP profit report boosted by Western Australia operations

Production from BHP’s most profitable business, its iron ore operations in Western Australia, hit 45 million tons in the three months to June, up from 37.6 million tons in the previous quarter and ahead of analyst forecasts, according to company’s statement in a production update on Wednesday. The world’s biggest […]

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