Latest Earnings reports News

Gap's 2Q profits fall, reflecting chain still mired in slump

Aug. 22, 2019 6:53 PM EDT

NEW YORK (AP) — Gap Inc.'s fiscal second quarter profits fell 43%, dragged down by costs related to store closings and the restructuring of its business. The beleaguered San Francisco-based chain also reported comparable sales declines at its three top brands, including at Old Navy, once a bright spot. The...

US stock indexes end mixed ahead of Fed chairman speech

Aug. 22, 2019 5:14 PM EDT

A wobbly day on Wall Street left stock indexes mostly lower Thursday as investors turned cautious ahead of a widely anticipated speech by the Federal Reserve chairman. Losses by health care, technology and energy companies, among other sectors, outweighed gains by banks, consumer goods makers and elsewhere in the...

Markets Right Now: After a day of wavering, stocks end lower

Aug. 22, 2019 4:11 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks ended an up-and-down day mostly lower as losses for health care and technology companies offset gains in banks and other sectors. UnitedHealth Group gave up 3.1% Thursday and Adobe lost 1.3%. Remarks from two...

Corporate profits slump again in 2Q

Aug. 22, 2019 10:29 AM EDT

Corporate profits fell for a second straight quarter in the spring as the effect of last year's tax cut wore off and companies contended with uncertainty from the Trump administration's trade wars. As the second quarter earnings season winds down, companies in the S&P 500 index are on track to notch the first...

Revenues up for Dubai's global port firm DP World

Aug. 22, 2019 8:48 AM EDT

DUBAI, United Arab Emirates (AP) — Global port operator DP World is reporting stronger financials for the first half of 2019, with revenue up nearly 32% and profits up almost 27% from the same period last year. The port operator said revenue for the first half of the year reached $3.46 billion and profits...

Asian stocks mixed after Wall Street rebound

Aug. 22, 2019 12:21 AM EDT

BEIJING (AP) — Asian stock markets are mixed Thursday following Wall Street's rebound as investors looked ahead to a speech by the U.S. Federal Reserve chairman for clues about possible interest rate cuts. Investor reaction was muted following Wednesday's release of notes from the latest Fed meeting...

Air New Zealand blames profit dip on engine issues, fuel

Aug. 21, 2019 10:30 PM EDT

WELLINGTON, New Zealand (AP) — New Zealand's national carrier said Thursday that increased fuel costs and engine problems were the main reasons why its annual profit dropped by more than 30%. Air New Zealand on Thursday reported a pre-tax profit of 374 million New Zealand dollars ($239 million) for the...

Retailers' results show sharp divide between losers, winners

Aug. 21, 2019 4:55 PM EDT

NEW YORK (AP) — The divide between retail winners and losers is widening. That became even more evident Wednesday with the latest batch of earnings reports: Big-box stores and off-price retailers have been responding faster to shoppers' increasing shift online with expanded deliveries and better...

Ellison's home improvement at Lowe's is paying off

Aug. 21, 2019 2:57 PM EDT

Lowe's blew past second quarter profit expectations, buoyed by strong demand for spring goods and sales to contractors. Even though the home improvement retailer wrestled with lower lumber prices and rough spring weather, CEO Marvin Ellison said Lowe's saw growth in same-store sales across the U.S. "Our...

Target thrives in intense retail environment

Aug. 21, 2019 8:42 AM EDT

NEW YORK (AP) — Target topped expectations in just about any way measureable during the second quarter as it pushed faster delivery for customers and invested heavily in new private label brands. Comparable store sales, which include online sales, rose 3.4 % as customer traffic jumped 2.4%. The measure...