A Volvo C40 Recharge electric SUV is on display during the Volvo “A New Era of Volvo Cars” press conference at The Shilla Seoul on March 14, 2023 in Seoul, South Korea. Han Myung-gu | Wireimage | Getty Images Volvo Cars shares surged more than 20% Thursday after the Swedish automaker announced that it will
Published: Jan. 31, 2024 at 9:39 p.m. ET By Kosaku Narioka Aozora Bank shares fell sharply after it projected a fiscal-year net loss due to higher provisions for U.S. office loans as well as losses from foreign bonds. Shares were recently 21% lower at 2,557.0 yen, falling to the day’s trading limit on Thursday morning.
New York Community Bancorp reported a surprise loss as it wrote down bad real estate loans, sending its stock tumbling Wednesday and dragging down the share prices of regional banks across the country. “This was a major negative surprise,” Jon G. Arfstrom, an analyst at RBC Capital Markets, said in a Wednesday note. New York
When SoFi Technologies reports earnings Monday morning, investors will be watching closely to see if the company succeeds in posting its first quarterly profit. The fintech’s management has previously said it expects to report its first profit—according to generally accepted accounting principles—for the 2023 fourth quarter. That said, analysts are a bit less optimistic, expecting
Hilltop Holdings residential mortgage originations business is still operating at a loss, as both total volume and gain-on-sale margins in the fourth quarter were lower on a year-over-year basis as well from the prior three months. Primelending reported a pretax loss of $15.9 million for the fourth quarter, compared with a loss of $8.2 million
Published: Jan. 17, 2024 at 3:08 a.m. ET By Elena Vardon Brooks Macdonald Group said it expects momentum on gross inflows to continue across its products over the second half of fiscal 2024 as it posted a rise in funds under management for the second quarter. The U.K. asset manager on Wednesday said that the
Morgan Stanley was boosted by its wealth management unit as the ongoing deal drought has taken its toll on Wall Street’s dealmakers. The lender’s wealth management business added net new assets of $282bn in 2023, growing 7%, according to results published on 16 January. Investment banking revenue, meanwhile, tanked from 13% to $4.6bn as deal activity has remained in
Leading figures in the financial sector are shunning Davos this year, as the World Economic Forum fights to compete with a growing number of rival conferences around the world. Bank of England governor Andrew Bailey, Dame Anne Richards of Fidelity International, John Studzinski of Pimco and Hendrik du Toit of Ninety One have all opted
Published: Dec. 20, 2023 at 7:29 p.m. ET Micron Technology Inc.’s return to revenue growth last quarter as it recovers from the memory-chip downturn was in part due to the boom in AI-related chips, putting more of a spotlight on the chip maker as another potential AI investment. On Wednesday, Micron’s fiscal first-quarter results topped
Why Microsoft’s stock is a better investment than Apple
Apple Inc. has long been the most valuable U.S. company, but Microsoft Corp. seems poised to overtake it. A look back at the companies’ financial performance and a look ahead at expected revenue and profits make the case that Apple is no longer a growth stock and that Microsoft is the better long-term investment. Late