Wall Street tapped the brakes on its recent record-setting rally Friday with a mixed finish for the major stock indexes, though the S&P 500 still ended the week with its third weekly gain in four. The benchmark index fell 0.3%, snapping a three-day winning streak, but notched a 1.9% gain for the week. The...
BEIJING (AP) — Asian stock markets retreated Friday after a resurgence of coronavirus infections in China and a rise in cases in Southeast Asia. Shanghai, Hong Kong, Tokyo and Australia declined. South Korea advanced. Overnight, Wall Street closed higher. Gains for tech stocks offset losses elsewhere....
OMAHA, Neb. (AP) — CSX railroad reported relatively flat fourth-quarter earnings even though it hauled 4% more freight as the economy continued to rebound from last year’s widespread virus-related shutdowns. The Jacksonville, Florida-based railroad said Thursday it earned $760 million, or 99 cents...
OMAHA, Neb. (AP) — Union Pacific's fourth-quarter profit chugged ahead as shipping volume improved for the first time since before the coronavirus pandemic slowed the economy to a crawl last year. The Omaha, Nebraska-based railroad said Thursday that it earned $1.38 billion, or $2.05 per share, in the...
NEW YORK (AP) — Are better days ahead for corporate profits? They'd better be. CEOs across America have begun telling shareholders how much profit their companies made during the last three months of 2020, just as the worsening pandemic sent death rates soaring. The general expectation is for nothing...
TOKYO (AP) — Asian shares rose Thursday on optimism over the new U.S. administration that earlier set off a rally on Wall Street. Hopes are high that President Joe Biden's administration will mean more support for the struggling U.S. economy, setting off a recovery that's crucial for the export-driven...
UnitedHealth’s fourth-quarter earnings tumbled as costs from COVID-19 hit the health insurance provider, but results still easily beat expectations. Health care use rebounded in the final quarter of 2020 after the global pandemic kept people away from doctor offices and surgery centers when it first...
CHARLOTTE, N.C. (AP) — Morgan Stanley saw its fourth-quarter profits surge 48% from a year earlier, as the Wall Street bank benefited from the market’s upward swing and investors jubilation for tech stocks and IPOs late last year. The New York-based firm posted a profit $3.39 billion, or $1.81 a...
TOKYO (AP) — Asian shares were mostly higher Wednesday, ahead of Joe Biden's inauguration as U.S. president. Japan's benchmark lost early gains as worries grew about the surge in coronavirus cases. Japan's benchmark Nikkei 225 lost early gains to slip 0.4% in morning trading to 28,515.21. Australia's...
CHARLOTTE, N.C. (AP) — Bank of America’s fourth-quarter profits fell 18% from a year ago, as lower interest rates weighed down its results. However the bank was able to release more than $800 million from its credit reserves, a sign that it sees the U.S. economy improving in the coming months. The...