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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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Swiss Market Ends Modestly Lower
The Switzerland market ended weak on Friday, in line with markets across Europe, as concerns about the health of U.S. regional banks hurt sentiment and triggered a sell-off in financials stocks across the globe.
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European Markets Close Weak On Credit Market Jitters, Trade Tensions
European markets closed weak on Friday, with bank stocks posting losses amid concerns about the health of U.S. credit markets. Concerns about U.S.-China trade tensions, and the ongoing war in Ukraine also weighed on sentiment.
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TSX Down Sharply; Materials Stocks Tumble
The Canadian market is down sharply in negative territory Friday afternoon due to a sell-off in materials stocks. Concerns about growth after Bank of Canada Governor Tiff Maclem warned that spillovers from U.S. President Donald Trump's tariff policies could weaken the economy.
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Bay Street Headed For Weak Start
Lower Canadian and U.S. futures amid worries about the health of US regional banks, and lingering concerns about U.S.-China trade tensions point to a weak start for the Canadian market on Friday.
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FTSE 100 Down 1.4%; Bank Stocks Fall On U.S. Lenders' Credit Woes
The UK market is down sharply on Friday, hurt by a sell-off in the financials sector amid concerns about the health of U.S. banks after a couple of regional banks disclosed that they were exposed to alleged fraud by borrowers, spreading jitters about credit market turmoil.
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CAC 40 Drifts Lower As Bank Stocks Tumble; Essilor Jumps On Strong Earnings
A day after hitting a 7-month high, French stock market's benchmark index CAC 40 has slipped into negative territory with bank stocks suffering sharp losses on Friday amid concerns about the health of U.S. credit markets.
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Pound Falls Amid BoE Rate Cut Speculation
The British pound weakened against other major currencies in the European session on Friday, amid rising expectations that the Bank of England (BoE) will cut interest rates further this year.
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9h 9minuter sedan
