IBM saw its stock go down more than 4.5 percent after it reported better-than-expected earnings for the fourth quarter and full year of 2017 on Thursday. EPS: Excluding certain items, $5.18 in earnings per share vs. $5.17 in earnings per share as expected by analysts, according to Thomson Reuters. Revenue: $22.5 billion vs. $22.06 billion
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Chenault said, however, that the company will continue to pay its quarterly dividend. Chenault said he believes the new tax law will ultimately have a positive effect on both the U.S. economy and the company. American Express also reported quarterly earnings and revenue that beat analysts’ expectations on Thursday. The company’s stock dipped more than
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Shares of General Electric hit their lowest level since December 2011 on Thursday, briefly breaking below $17. The Dow component closed at $16.77, a six-year low, down 3.3 percent. The move lower follows a 4.7 percent decline on Wednesday and a 2.8 percent drop Tuesday. For the week, GE shares are down 9 percent. The
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By now, even your grandmother probably knows what a bitcoin is. If that’s not a sign of something going mainstream, I don’t know what is. As a financial advisor, I’ve found it interesting these past months to talk about bitcoin in a professional setting. When I do, I always explain that, no matter how exciting
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Bank of New York Mellon expects to book more severance charges in 2018, its chief executive said, as the custodian bank tries to cut costs and streamline its businesses. Shares fell 4.2 percent to $55.43 in early trading on Thursday, after BNY Mellon recorded $246 million in severance and litigation charges in its fourth-quarter earnings
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Qilai Shen | Bloomberg | Getty Images James Gorman, chief executive officer of Morgan Stanley Morgan Stanley posted fourth-quarter earnings and revenue on Thursday that beat analyst expectations, excluding a charge related to the tax bill, as strong results in wealth management offset a big drop in fixed income trading revenue. Here’s how the banking
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South Korean policymakers joined the global chorus of virtual-coin critics on Thursday, saying Seoul is considering shutting down domestic virtual currency exchanges as the new breed of market exposes users to speculative frenzy and crime. The country’s tough stance comes as policymakers from the United States to Germany struggle to come up with stricter regulation
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Goldman Sachs reported fourth-quarter earnings of $5.68 a share that topped Wall Street estimates, but shares edged lower in premarket trading. The company posted a net loss when factoring in a tax hit. The investment bank titan also beat on revenue, reporting $7.83 billion against estimates of $7.61 billion. However, trading revenues in the critical
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Tiffany & Co. on Wednesday reported an 8 percent increase in net revenue during the holiday season, fueled by higher sales of fine jewelry, watches, and a new home and accessories collection. Total same-store sales were up 5 percent during the November and December months, the company said. In the U.S. alone, same-store sales rose
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