Day: October 26, 2022
Stifel Financial Corp. SF, +2.34% and Evercore Inc. EVR, +6.00% both reported double-digit percentage drops in compensation expense on Wednesday as banker pay dries up from 2022’s lower deal flow. Third-quarter compensation expense at Stifel fell 25% to $211.82 million from $283.1 million in the year-ago quarter, as total revenue fell to $339.4 million from […]
U.S. stocks opened mostly lower on Wednesday as earnings from Microsoft MSFT, -5.15% and Alphabet GOOG, -6.27% disappointed investors, dragging on the Nasdaq. The S&P 500 SPX, +0.65% fell 33 points, or 0.9%, to 3,825. The Dow Jones Industrial Average DJIA, +1.02% rose 13 points, or less than 0.1%, to 31,849. The Nasdaq Composite COMP, […]
The Biden administration on Wednesday rolled out new measures aimed at what it described as two practices involving “junk fees” at banks KBE, +0.97%. The White House said in a news release that the Consumer Financial Protection Bureau has issued new guidance targeting “overdraft fees charged when consumers had enough money in their account to […]
The Monetary Authority of Singapore (MAS) is introducing proposals to better regulate the cryptocurrency industry in the aftermath of the bankruptcy of the Singaporean crypto hedge fund Three Arrows Capital (3AC). The central bank of Singapore has issued two consultation papers on proposals for regulating the operations of digital payment token service providers (DPTSP) and […]
Target Corp. TGT, +1.79% said it has expanded its Apple at Target in-store locations to 150 of the retail giant’s current locations across the U.S. to sell products from Apple Inc. AAPL, -1.56%. Members of Target Circle, the retailer’s free loyalty program, are being offered a four-month free trial of Apple Fitness+ with no purchase […]
Alaska Airlines Group Inc. ALK, +0.44% said Wednesday that it is buying 52 Boeing 737 MAX jets through the exercising of options, representing the air carrier’s largest commitment for future aircraft in its history. Financial terms of the order were not disclosed. The purchases, which are for delivery between 2024 and 2027, will increase Alaska […]
General Atlantic LLC said Wednesday it will create a new business unit called General Atlantic Credit by paying an undisclosed sum to acquire Iron Park Capital Partners LP, a global investment manager that specializes in the public and private credit markets. Iron Park CEO and founder Tripp Smith will be CEO of GA Credit. The […]
An earlier version of this report had a typo in the net income number for the third quarter of 2021. It has been corrected. Kraft Heinz Co. shares KHC, -0.19% soared 3.9% in premarket trade Wednesday, after the food company blew past earnings estimates for the third quarter. The company posted net income of $432 […]
Turning Point Brands Inc. TPB, +8.73% said Wednesday its third-quarter earnings fell to $11.54 million, or 60 cents a share, from $13.47 million, or 65 cents a share, in the year-ago quarter. Breaking out one-time items, Turning Point Brands earned 72 cents a share. Net sales fell 1.9% to $107.8 million. Combined net sales for […]
Shares of Bristol Myers Squibb BMY, +0.18% were up 1.2% in premarket trading on Wednesday, the day after the company shared better-than-expected results for the third quarter of the year. Bristol had earnings of $1.6 billion, or 75 cents per share, in the third quarter of 2022, up from $1.5 billion, or 69 cents per […]
