Corporate Earnings

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American Express Co missed third-quarter profit estimates on Friday, as its customers spent less during the COVID-19 fueled economic slowdown and it set aside money for potential payment defaults, sending its shares 3% lower.

The COVID-19 pandemic has triggered the worst economic downturn in decades and led to mass layoffs, resulting in more people defaulting on their bills and offering more evidence that the economic recovery from the COVID-19 recession w...

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Intel Corp on Thursday reported that margins tumbled in the latest quarter as consumers bought cheaper laptops and pandemic-stricken businesses and governments clamped down on data center spending, news that sent its shares down 10% in extended trading.

Intel, the dominant provider of processor chips for PCs and data centers, has struggled with manufacturing delays. In July, it said its next generation of chipmaking technology was six months b...

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Dow Inc on Thursday beat estimates for quarterly earnings and forecast a pick up in demand as more industries start to recover from the impact of the COVID-19 pandemic.

Consumer spending on big-ticket items such as furniture, home appliances and vehicles, to which Dow has significant exposure, has started to gain momentum after the pandemic hurt demand earlier in the year.

Chief Financial Officer Howard Ungerleider said on a post-earnings...

Reuters | |

Union Pacific Corp on Thursday reported a bigger-than- expected drop in quarterly profit, after demand for e-commerce and beer shipments failed to offset weakness in coal and petroleum carloads, and shares fell 3.3%.

The Omaha, Nebraska-based railroad operator’s third-quarter net income was $1.4 billion, or $2.01 per share, down from $1.6 billion, or $2.22 per share, a year earlier.

Total operating revenue fell 11% to $4.9 billion.


Reuters | |

AT&T Inc on Thursday reported the coronavirus pandemic had taken a heavy toll on its media business, but quarterly results were offset by more new phone subscribers than expected, which executives credited to the improved quality of its wireless network.

That helped AT&T beat revenue expectations. Total revenue was $42.3 billion during the third quarter ended Sept. 30, exceeding the average analyst expectation of $41.59 billion, according...

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American Airlines and Southwest Airlines each reported deep losses in the third quarter on Thursday, but said they would burn less cash in the months to come as leisure bookings show signs of recovery from this year’s coronavirus-driven collapse.

They warned, however, that passenger traffic would remain fragile until a COVID-19 vaccine was made widely available, and renewed calls for another $25 billion in government payr...

Reuters | |

Coca-Cola Co beat revenue and profit expectations on Thursday as strong "at-home" sales helped the world's largest soda maker bounce back from a shattering second quarter, sending its shares up 2% in early morning trading.

The beverage company, which makes about half of its revenue from sales in restaurants, theaters and other public venues, reported a slowdown in declines in “away-from-home” sales and said the last quarter had been its most challengin...

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Tesla Inc on Wednesday reported its fifth consecutive quarterly profit on record revenue of $8.8 billion, boosted by an uptick in vehicle deliveries and sales of environmental regulatory credits to other automakers.

The electric car maker also affirmed its target to deliver half a million vehicles by the end of this year, a goal that will require it to significantly ramp up vehicle sales in the fourth quarter.

AP News | |

Reuters | |

Nasdaq Inc on Wednesday reported third-quarter profits that topped Wall Street views, helped by strength in the transatlantic exchange operator’s indexing business and a surge in trading volumes.

Nasdaq reported an adjusted quarterly profit of $1.53 per share, versus estimates of $1.46 per share, according to IBES data from Refinitiv.

Net income rose to $264 million, or $1.58 per share, from $150 million, or 90 cent...