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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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Singapore Bourse Due For Support On Monday
The Singapore stock market has moved lower in four straight sessions, sinking more than 20 points or 0.4 percent in that span. The Straits Times Index now sits just beneath the 4,570-point plateau although it may stop the bleeding on Monday.
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Win Streak May Continue For Malaysia Stock Market
The Malaysia stock market has moved higher in back-to-back sessions, advancing almost 25 points or 0.7 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,665-point plateau and it's expected to open in the green again on Monday.
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Japan Shares Have Positive Lead For Monday
The Japanese stock market has finished higher in two of three trading days since the end of the two-day losing streak in which it had tumbled almost 1,500 points or 3.2 percent. The Nikkei 225 now sits just above the 49,500-point plateau and it may extend its gains on Monday.
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Additional Support Anticipated For South Korea Shares
The South Korea stock market has moved higher in two of three trading days since the end of the two-day slide in which it had given up almost 170 points or 4.1 percent. The KOSPI now sits just above the 4,020-point plateau and it may add to its winnings on Monday.
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Malaysia Inflation Data Due On Monday
Malaysia will on Monday release November numbers for consumer prices, highlighting a light day for Asia-Pacific economic activity. In October, inflation was down 0.1 percent on month and up 1.3 percent on year.
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Canadian Dollar Falls Against Most Majors
The Canadian dollar dropped against its most major counterparts in the New York session on Friday.
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Swiss Market Ends Modestly Higher As Stocks Rise In The Final Hour
After some positive moments till about an hour after the opening bell Friday morning, and a subsequent long spell in negative territory, the Swiss market climbed higher in the final hour to close on a firm note.
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