collected by :Ros Roger
as declared in The Cleveland-based mining and natural resources company reported a second-quarter profit of $165.1 million, or 55 cents a share, compared to $31.8 million, or 10 cents a share, for the same period a year ago. The company reported income from continuing operations of 77 cents a share, compared to 28 cents a share a year earlier. Analysts were expecting adjusted earnings of 53 cents a share. The company said its U.S. iron ore realized revenue rate increased 16% to $113 per long ton. Shares are up around 35% to $9.76 so far this year, compared to the S&P 500, which is up 5% in 2018.
As it stated in
The Bank of America cost-cutting machine hummed along for another quarter. That looked to be the single biggest factor in the bank's profit increase in the quarter. Bank of America set aside $800 million for credit losses in the quarter, less than the $973.5 million expected by analysts. While the bank grew loans and leases to $935.8 billion, that was below the $942 billion estimate. Bank of America CEO Brian Moynihan will appear on CNBC's "Mad Money" at 6 p.m.
As it stated in
Retailer Massmart's share price jumped almost 9% on Thursday, after the group reported a better than expected performance for the half-year to end-June. The company reported total sales for the 26-week period of R41.6bn, or an increase of 1.9%, with comparable store sales rising 0.2%. Including the results of business unit Shield — which Massmart no longer includes in group sales figures — overall sales declined 2.2% and comparable stores 3.9%. Massmart's share price rose 7.98% to close at R115 with JSE-listed retailers having benefited this week from a falling oil price and positive economic data. Retail sales data for May, released on Wednesday, were upbeat, showing growth of 1.9% year on year, compared with the consensus forecast of 0.8%.
as declared in The Cleveland-based mining and natural resources company reported a second-quarter profit of $165.1 million, or 55 cents a share, compared to $31.8 million, or 10 cents a share, for the same period a year ago. The company reported income from continuing operations of 77 cents a share, compared to 28 cents a share a year earlier. Analysts were expecting adjusted earnings of 53 cents a share. The company said its U.S. iron ore realized revenue rate increased 16% to $113 per long ton. Shares are up around 35% to $9.76 so far this year, compared to the S&P 500, which is up 5% in 2018.
As it stated in
Bank of America shares surge more than 4% after earnings top expectations
The Bank of America cost-cutting machine hummed along for another quarter. That looked to be the single biggest factor in the bank's profit increase in the quarter. Bank of America set aside $800 million for credit losses in the quarter, less than the $973.5 million expected by analysts. While the bank grew loans and leases to $935.8 billion, that was below the $942 billion estimate. Bank of America CEO Brian Moynihan will appear on CNBC's "Mad Money" at 6 p.m.
As it stated in
Retailer Massmart's share price jumped almost 9% on Thursday, after the group reported a better than expected performance for the half-year to end-June. The company reported total sales for the 26-week period of R41.6bn, or an increase of 1.9%, with comparable store sales rising 0.2%. Including the results of business unit Shield — which Massmart no longer includes in group sales figures — overall sales declined 2.2% and comparable stores 3.9%. Massmart's share price rose 7.98% to close at R115 with JSE-listed retailers having benefited this week from a falling oil price and positive economic data. Retail sales data for May, released on Wednesday, were upbeat, showing growth of 1.9% year on year, compared with the consensus forecast of 0.8%.