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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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946 dias atrás
Fed's Beige Book Says U.S. Economic Activity Little Changed
Economic activity in the U.S. has shown little change since early September, according to the Federal Reserve's Beige Book.
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34 minutos atrás
U.S. Mortgage Applications Fall For Third Week: MBA
Mortgage applications for house purchase in the U.S. decreased for a third week in a row, survey results from the Mortgage Bankers Association showed on Wednesday.
The market composite index, which measures the house purchase mortgage loan application volume, dropped a seasonally adjusted 1.8 percent in the week ended October 10 following a 4.7 percent decline in the previous week, results of th
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2 h 7 min atrás
New York Manufacturing Index Unexpectedly Indicates Growth In October
New York manufacturing activity has seen a significant turnaround in the month of October, according to a report released by the Federal Reserve Bank of New York on Wednesday. The New York Fed said its general business conditions index surged to a positive 10.7 in October after plunging to a negative 8.7 in September, with a positive reading indicating growth.
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5 h 1 min atrás
Bay Street Likely To Open Higher Again
Canadian shares are likely to open on a positive note Wednesday morning, tracking the firm trend in European markets, and higher commodity prices.
The undertone is likely to remain firm amid expectations of an interest rate cut by the Federal Reserve at its upcoming monetary policy meeting.
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6 h 3 min atrás
New York Manufacturing Index Unexpectedly Returns To Positive Territory
New York manufacturing activity has seen a significant turnaround in the month of October, according to a report released by the Federal Reserve Bank of New York on Wednesday.
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6 h 5 min atrás
Eurozone Industrial Production Declines
Eurozone industrial production logged a monthly fall in August, reflecting the uncertainty surrounding the global trade environment. Industrial output dropped 1.2 percent month-on-month, in contrast to the 0.5 percent increase in July, Eurostat said Wednesday. However, the decline was less severe than the forecast of 1.6 percent.
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6 h 27 min atrás
FTSE 100 Drifts Lower
The UK stock market is down in negative territory on Wednesday, unlike its peers Germany and France, which have moved higher thanks to a good show by stocks from the luxury sector after French major LVMH reported better-than-expected sales in the third quarter.
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6 h 40 min atrás
