Results for "earnings"

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Genworth first-quarter results fall on investment losses

May 7, 2009

Investment losses and subprime mortgage impairments drove Genworth Financial Inc. to a first-quarter loss, and the insurer says it plans to sell up to 49 percent of its Canadian mortgage business to raise cash. The Richmond, Va., company lost...

Lincoln National in the red; gets ratings revision from S&P

May 6, 2009

Lincoln National Corp. ended the first quarter in the red, citing a $600 million charge on the impairment of goodwill in its annuity business. The insurer reported a loss of $579 million, or $2.27 a share, for the quarter, down from a profit...

Legg Mason's fiscal 4Q loss beats expectations

May 5, 2009

Legg Mason Inc. today reported a net loss of $325.1 million, or $2.29 per diluted share, for the fourth quarter of the fiscal year ended March 31. This compares with a loss of $255.5 million, or $1.81 per diluted share, in the fourth quarter...

Aon Corp., Hartford Financial Services, MetLife Inc.

May 1, 2009

Aon Corp. said today its first-quarter profit jumped 28 percent as the insurance broker was able to slash costs, more than offsetting a slight decline in revenue. Net income available to common shareholders rose to $280 million, or 97 cents...

Aetna reports slight 1Q profit increase

April 29, 2009

Managed-care company Aetna Inc. said today its first-quarter profit rose slightly due to membership gains and premium increases, even though the company saw higher-than-expected medical costs. The Hartford, Conn.-based company became the fifth...

E-Trade Financial loss widens, shares fall

April 29, 2009

Online brokerage E-Trade Financial Corp. said today its first-quarter loss grew sharply as it nearly doubled its provision for loan losses from the previous year. Shares in the New York-based firm, which has been hampered by its mortgage-lending...

Despite first-quarter gains, T. Rowe lays off 5.5% of work force

April 22, 2009

T. Rowe Price Group Inc. said Wednesday that reeling markets sent its first-quarter profit tumbling by more than two-thirds, and the investment manager announced plans to cut 288 jobs, or 5.5% of its work force. Investment advisory revenue was...

Wells Fargo first-quarter earnings in line with forecast

April 22, 2009

Wells Fargo & Co.'s first-quarter report on Wednesday had few big surprises, as results fell in line with the bank's forecast and easily beat Wall Street's estimates. But like most of its peers, the bank continues to post higher credit costs....

Bank of New York Mellon Q1 earnings down 57%; cuts dividend

April 21, 2009

Bank of New York Mellon Corp. said Tuesday that its first-quarter profit dropped an unexpectedly steep 57 percent and that it was slashing its dividend in hopes of repaying a government investment. Its shares fell more than 5 percent in premarket...

TD Ameritrade 2Q net down 29%, new assets off 7%

April 21, 2009

In spite of increased client trading, TD Ameritrade Holding Corp.’s fiscal second-quarter profit fell 29.2% from a year earlier, to $132 million, on plummeting net interest revenue, the company said today. The Omaha, Neb.-based company, which...

BofA shares drop despite quarterly profit

April 20, 2009

Bank of America Corp. warned of worsening loan default problems Monday even as it posted a first-quarter profit of $2.81 billion. Investors concerned about the banking industry's health sent financial stocks and the overall market sharply lower....

Citi's 1Q profit spike: Less than meets the eye

April 17, 2009

Citigroup Inc. Chief Executive Vikram Pandit put his credibility on the line last month when he wrote a memo saying the bank, after five consecutive quarters of losses, at last was profitable. It turns out that depends on which definition of...

UBS to slash 8,700 jobs after feared $1.75B Q1 loss

April 15, 2009

UBS AG, Switzerland's largest bank, said today it expects a first quarter loss of nearly 2 billion Swiss francs ($1.75 billion) and announced plans to cut 8,700 jobs worldwide by the end of next year. The job cuts will hit the United States...

Goldman reports 1Q profit of $1.7B

April 13, 2009

Goldman Sachs Group Inc. has beat Wall Street's earnings expectations, reporting profit of $1.7 billion during the first three months of this year. It's another sign that banks may be turning themselves around. The bank, considered one of the...

Piper Jaffray books $153.3 million loss

February 2, 2009

Piper Jaffray & Co. today reported a $153.3 net loss, or a loss of $9.78 diluted earnings per share, for the fourth quarter. In the fourth quarter of 2007, the Minneapolis-based international middle-market investment firm reported earnings of...

Profits plunging, Janus drops institutional money funds

January 22, 2009

Janus Capital Group Inc. today reported that its fourth-quarter profit fell 85%, and it announced plans to get out of the institutional money market business. The Denver-based company’s earnings fell to $7.8 million, or 5 cents a share, from...

AllianceBernstein’s profit falls 73%

January 22, 2009

AllianceBernstein LP reported a 73% fourth-quarter-profit decline, while CIT Group Inc. and Fifth Third Bancorp posted fourth-quarter losses stemming from bad loans. AllianceBernstein reported income of $25.7 million, or 29 cents a share, down...

Jefferies books $443M fourth-quarter loss

January 20, 2009

Jefferies Group Inc. reported a fourth-quarter loss of $443 million, or $2.41 a share, due to write-downs on stock options. The New York-based investment bank, which has now suffered five straight quarterly losses, incurred around $328 million...

State Street drops 71%, missing expectations

January 20, 2009

State Street Corp. today reported a 71% profit drop in fourth-quarter earnings, along with increased unrealized losses in its commercial paper program and investment portfolio. The Boston-based money manager’s fourth-quarter net income was...

Embattled BofA takes fourth-quarter beating

January 16, 2009

Bank of America Corp. suffered its first quarterly loss in 17 years due to escalating credit costs, write-downs of $10.47 billion and trading losses in its capital markets businesses. The Charlotte, N.C.-based bank’s fourth-quarter loss of...

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