Lending markets

Industry Update: Tech stocks fuel afternoon rally for broader markets

Tech stocks remain solidly higher on Friday afternoon, with the SPDR Technology Select Sector ETF (XLK) and the Philadelphia Semiconductor Index up nearly 2.0%. In corporate news, Grid Dynamics (GDYN) climbed 4% on Friday after the digital transformation services company announced it had secured a new three-year, $30 million revolving credit facility through JPMorgan Chase […]

Investment reports

Boxed Reports Fourth Quarter Results, Sees 2022 Revenue Climb 24% to 38%

The Good Squad/DigitalVision via Getty Images E-commerce business (NYSE: BOXD) released fourth-quarter results, its second earnings as a public company, after completing a divestiture in December. In a box, which is an e-commerce grocery platform that sells consumables in bulk, fourth-quarter revenue rose 4.2% to $45 million from the year-ago quarter, according to a declaration. […]

Investment reports

BRIDGE INVESTMENT ANNOUNCES FOURTH QUARTER AND FULL YEAR 2021 RESULTS – Form 8-K

BRIDGE INVESTMENT GROUP HOLDINGS INC. ANNOUNCES FOURTH QUARTER AND FULL YEAR 2021 RESULTS SALT LAKE CITY, UTAH-Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge” or the “Company”) today released financial results for its fourth quarter and fiscal year ended December 31, 2021. Fourth quarter 2021 TotalIncome and […]

Profit statements

CIMB Q4 net profit nearly quadruples to RM854.51m and pays dividend of SR12.55

KUALA LUMPUR (February 28): CIMB Group Holdings Bhd’s net profit for the fourth quarter ended December 31, 2021 (4QFY21) increased nearly fourfold to RM854.51 million from RM214.98 million it a year ago, due to significantly lower provisions. Its revenue for 4QFY21, however, fell 1.68% to RM4.59 billion from RM4.67 billion a year ago, its filing […]

Profit statements

DRB-Hicom closes FY21 in the red as Q4 profit drops 88% in the absence of windfall gains

KUALA LUMPUR (February 24): DRB-Hicom Bhd closed its financial year ended December 31, 2021 (FY21) in the red, after recording an 88% drop in net profit in the fourth quarter to RM117.47 million against RM985.99 million in the same quarter a year ago. The drop in quarterly profit was due to the fact that the […]

Investment reports

Host acquires 49% of Noble Investment and announces a strong 4Q21 – HOTELSMag.com

During its 4Q21 earnings call on Wednesday, Host Hotels & Resorts announced that it had acquired a 49% stake in long-time respected hotel investor Noble Investment Group, a private equity group that focuses on high-end hotel assets of selected services and extended stays. Seen as a strong diversification strategy for Host, the two companies are […]

Profit statements

Advance Auto Parts Inc. 4Q Reports Rising Sales, Falling Profits

By Denny Jacob Advance Auto Parts Inc. posted higher sales but lower earnings in the fourth quarter as some headwinds eroded improvements in pricing, inventory and proprietary brand expansion. The auto parts salesman reported profit of $81.7 million, or earnings per share of $1.30, compared with net income of $112 million, or earnings per share […]

Profit statements

Nordic insurer Sampo’s fourth-quarter profit beats forecasts

The Sampo Group logo is pictured at the company’s headquarters in Helsinki, Finland November 7, 2018. Vesa Moilanen/Lehtikuva via REUTERS Join now for FREE unlimited access to Reuters.com Register HELSINKI, Feb 9 (Reuters) – Finnish financial group Sampo (SAMPO.HE) reported a bigger-than-expected rise in fourth-quarter pre-tax profit on Wednesday, boosted by a strong performance in […]

Profit statements

Pennymac Financial Services profit drops 31% in fourth quarter

California-based non-bank mortgage lender Pennymac Financial Services saw record loan production last year, but a significant decline in net profits. Reflecting the landscape of higher rates, in the last three months of 2021, the servicing segment brought more returns to the business than production. The company reported net income of $1 billion in 2021, down […]

Lending reports

IndusInd Bank admits procedural flaws in MFI lending; announces a 49% jump in profits in the third quarter

There have been reports alleging the possibility of loan rollovers as the loans were issued without customer consent, which helped the bank remove non-performing assets in the first COVID-hit quarter. Private sector lender IndusInd Bank on Saturday reported a 49% rise in its December quarter net profit to Rs 1,241.55 crore and admitted procedural lapses […]

Profit statements

Suzlon Energy posts net profit of Rs 37 cr in December quarter

Suzlon Energy posted a consolidated net profit of Rs 37.73 crore in the December 2021 quarter, mainly due to higher revenues. The company had reported a consolidated net loss of Rs 118.06 crore in the same quarter last year, according to a BSE filing released on Friday evening. Its total revenue rose to Rs 1,615.06 […]

Profit statements

Valero posts quarterly profit on rising gasoline demand

The Valero refinery next to the Houston Ship Channel is seen in Houston, Texas, U.S., May 5, 2019. REUTERS/Loren Elliott/File Photo Jan 27 (Reuters) – U.S. refiner Valero Energy Corp (VLO.N) posted a quarterly profit on Thursday, up from a loss a year ago, as demand for fuel and refined products soared due to a […]

Profit statements

Philips provides update on profit warning and recalls

Shares of Philips plunged 15% on Wednesday after warning that its ongoing recall of CPAPs, BiPAPs and ventilators would be extended and supply chain issues sent profits plummeting. The combined issues are estimated to drop fourth-quarter adjusted earnings before interest, taxes, amortization (EBITA) by nearly 40%, or about $739 million. Wednesday’s share decline eroded Philips’ […]

Profit statements

Steel stocks fall near buy point on earnings warning

Steel maker Nucor (NAKED) cautioned against earnings amid falling volumes at its steel plants, a day after steel stocks rallied to challenge a large market sell-off. Nucor shares fell early on Wednesday. Nucor’s management was targeting fourth quarter earnings of $ 7.65 to $ 7.75 per share. That would mark a record quarter, down from […]

Profit statements

TIM issues third profit warning in one year amid board battle

TIM cuts its baseline profit forecast for 2021 domestic businesses Vivendi plans to request board reshuffle – sources The group will hold a board of directors on Friday on the KKR offer MILAN, Dec. 16 (Reuters) – Telecom Italia (TIM) (TLIT.MI) has issued its third profit warning in a year amid a board battle that […]

Profit statements

More expensive lumber, supply chain issues weigh on Lennar’s bottom line; stocks collapse

Homes are seen at The Collection in Morristown, a Lennar Corporation subdivision, in Morristown, New Jersey, USA on November 13, 2021. REUTERS / Andrew Kelly Register now for FREE and unlimited access to reuters.com Register Dec. 15 (Reuters) – Lennar Corp (LEN.N) missed quarterly profit estimates on Wednesday as supply chain problems linked to the […]