Finance

Morgan Stanley Remains ‘Cautious Evenweight’ on Western Digital Ahead of Earnings

Morgan Stanley Remains ‘Cautious Evenweight’ on Western Digital Ahead of Earnings

Western Digital (WDC) is scheduled to report earnings after the close on Monday, and while the company is enthusiastic about a second half recovery, Morgan Stanley analysts said they are “convinced” that there is too much inventory for that to happen. “WD does have an offsetting tailwind as hard disk drive margins should recovery through the year, but still from […]

Loews Smashes Expectations With First Quarter Earnings as CNA, Boardwalk Units’ Sales Advance

Loews Smashes Expectations With First Quarter Earnings as CNA, Boardwalk Units’ Sales Advance

Loews (L) reported better-than-expected earnings with growth in revenue for its first quarter, as the conglomerate with interests in hotels, entertainment, energy and packaging reported a stronger performance in its insurance and natural gas units. Earnings jumped to $1.27 a share from $0.89 a share previously, while the consensus on Capital IQ was for $0.96 a share. Revenue rose to […]

Anadarko to Resume Takeover Talks With Occidental, Chevron Offer Still on Table

Anadarko to Resume Takeover Talks With Occidental, Chevron Offer Still on Table

Oil and gas production company Anadarko Petroleum (APC) said on Monday that it would like to resume negotiations with Occidental Petroleum (OXY), which has offered to take over the company, because it feels that the proposal could result in a superior one to that proposed by rival Chevron (CVX). Anadarko entered into a definitive merger agreement with Chevron on April […]

Bank of N.T. Butterfield & Son Q1 Core EPS Above Consensus

Bank of N.T. Butterfield & Son Q1 Core EPS Above Consensus

Bank of N.T. Butterfield & Son (NTB), a provider of community, commercial and private banking services, reported Thursday Q1 core earnings ahead of Wall Street’s consensus estimate and agreed to buy the Channel Islands-based banking business of ABN AMRO for GBP161 million ($208 million). Core earnings in the quarter totaled $0.95 per share, up from $0.81 per share in the […]

D.R. Horton Shares Drop Despite Earnings Beat as Homebuilder’s Fiscal-Year Guidance Misses Views

D.R. Horton Shares Drop Despite Earnings Beat as Homebuilder’s Fiscal-Year Guidance Misses Views

D.R. Horton (DHI) dropped 5% as the homebuilder’s revenue guidance for fiscal 2019 came in below market expectations. The Arlington, Texas-based company said it expects consolidated revenue between $16.7 billion and $17 billion, below Capital IQ’s consensus of $17.2 billion. D.R. Horton said it earned $0.93 per diluted per share in its fiscal second quarter, up from $0.91 in the […]