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Silvergate Capital Q3 Profit Soars
(RTTNews) - Silvergate Capital Corp. (SI) on Tuesday reported net income available to common shareholders for the third quarter of $40.64 million or $1.28 per share, sharply higher than $23.49 million or $0.88 per share in the year-ago quarter.
Net interest income for the quarter surged to $84.72 million from $39.0 million in the prior-year quarter. Non-interest income declined to $8.45 million from $14.04 million in the same period last year.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.38 per share on revenues of $100.35 million for the quarter. Analysts' estimates typically exclude special items.
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ECB Cuts Interest Rates By 25 Bps As Inflation Forecasts Lowered
The European Central Bank slashed its interest rates by 25 basis points on Thursday, in line with expectations, while the staff trimmed the euro area price growth projections for this year and next citing prospects of energy prices and stronger euro going forward.
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Pred 2 h 20 min
Euro Mixed After ECB Announcement
The euro showed mixed trading against its major counterparts in the New York session on Thursday, after the European Central Bank lowered its key rates by 25 basis points, as expected.
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Pred 3 h 8 min
Swiss Market Ends Marginally Up
The Switzerland market, which stayed positive till well past noon on Thursday, suffered a mild setback in the penultimate hour of the session, but recovered to end the day's session marginally higher.
Investors reacted positively to the European Central Bank's decision to lower interest rate by 25 basis points.
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Pred 4 h 31 min
European Stocks Close Slightly Higher
European stocks closed slightly higher on Thursday with investors digesting the European Central Bank's interest rate decision, and a slew of regional economic data, in addition to assessing the potential impact of Trump Administration's tariff moves on global trade and growth.
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Pred 4 h 44 min
Canadian Market Modestly Higher In Cautious Trade
Canadian stocks are turning in a mixed performance on Thursday with investors largely making cautious moves, looking ahead to the crucial U.S. and Canadian jobs data due on Friday.
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Pred 5 h 27 min
U.S. Labor Productivity Slumps 1.5% In Q1, Much More Than Previously Estimated
Revised data released by the Labor Department on Thursday showed U.S. labor productivity tumbled by much more than previously estimated in the first quarter of 2025. The Labor Department said labor productivity slumped by 1.5 percent in the first quarter compared to the previously reported 0.8 percent decline. Economists had expected the decrease by labor productivity to be revised to 0.7 percent.
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Pred 7 h 57 min
U.S. Trade Deficit Narrows Substantially In April As Imports Plummet
Largely reflecting a sharp pullback by the value of the imports, the Commerce Department released a report on Thursday showing a substantial decrease in the size of the U.S. trade deficit in the month of April. The Commerce Department said the U.S. trade deficit narrowed to $61.6 billion in April from a revised $138.3 billion in March.
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Pred 8 h 15 min
U.S. Jobless Claims Unexpectedly Rise To Nearly Eight-Month High
With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits unexpectedly increased in the week ended May 31st. The report said initial jobless claims climbed to 247,000, an increase of 8,000 from the previous week's revised level of 239,000.
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Pred 8 h 33 min
