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Comerica Q2 Net Profit Declines, But Tops Estimates
(RTTNews) - Comerica, Inc. (CMA), a financial services company, reported Friday that net income attributable to common shares for the second quarter decreased to $200 million or $1.49 per share from $266 million or $2.01 per share in the prior-year quarter.
Excluding items, adjusted earnings for the latest quarter were $1.53 per share. On average, 22 analysts polled by Thomson Reuters expected the company to report earnings of $1.19 per share for the quarter. Analysts' estimates typically exclude special items.
Net interest income declined to $533 million from $621 million and total noninterest income decreased to $291 million from $303 million last year. Analysts' expected revenues of $813.47 million for the quarter.
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Moody's Cuts Signature Bank's Rating To Junk
Moody's Investors Service has downgraded the ratings of the collapsed Signature Bank to junk, and will withdraw its ratings for business reasons. The rating agency also put the following six banks under review before deciding on downgrading them - First Republic Bank, Zions Bancorp., Western Alliance Bancorp, Comerica Inc, UMB Financial Corp and Intrust Financial Corp.
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840 days ago
Yen Rises As Japan Tankan Data Adds To BOJ Rate-Hike Prospects
The Japanese yen strengthened against other major currencies in the European session on Tuesday, following the Bank of Japan's Tankan survey indicating that business sentiment among major Japanese firms has improved slightly, which increased the likelihood of additional rate hikes by the Japanese central bank.
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16 minutes ago
Yen Rises Against Majors
The Japanese yen strengthened against other major currencies in the European session on Tuesday.
The yen rose to a 6-day high of 168.46 against the euro and an 8-day high of 196.80 against the pound, from early lows of 169.66 and 197.76, respectively.
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45 minutes ago
Sensex, Nifty Close Higher After Choppy Session
Indian shares ended on a positive note on Tuesday after a choppy ride as investors tracked the developments on the trade front ahead of a July 9 deadline for Trump administration's reciprocal tariffs.
According to reports, India is on track to finalise an interim trade agreement with the US as soon as this week.
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55 minutes ago
Mixed Sentiment In Asian Markets
Sentiment in Asian markets remains mixed amidst uncertainty about U.S. tariffs that kept investor sentiment fragile.
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1h 47min ago
DAX Down Nearly 0.5% As Investors Eye Trade Talks
German stocks are down in negative territory on Tuesday with investors digesting the latest batch of regional economic data, and closely following news about negotiations with the U.S. ahead of a July 9 deadline for reciprocal tariffs.
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1h 49min ago
China Manufacturing Activity Returns To Growth
China's manufacturing sector returned to growth in June on higher new orders and a renewed rise in production, survey data from S&P Global showed on Tuesday. The Caixin manufacturing Purchasing Managers' Index rose to 50.4 in June from 48.3 in May. A reading above 50.0 indicates expansion. The survey showed that the growth was driven by a renewed expansion in manufacturing output.
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2h 40min ago
U.S. Dollar Extends Fall As Trump's Tax Bill And Tariffs Weigh
The U.S. dollar continued to trade lower against other major currencies in the Asian session on Tuesday, as markets anticipated a vote on U.S. President Donald Trump's historic tax and spending bill.
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4h 5min ago
