Business

Higher oil prices give Halliburton better-than-expected fourth quarter

(Reuters) - U.S. oilfield services company Halliburton Co reported a bigger-than-expected fourth-quarter profit after charges and gave an upbeat outlook for 2018, as higher oil prices continue to push U.S. production near record levels.

Technology

UK's Computacenter hikes 2017 expectations, sees stable 2018

(Reuters) - IT services firm Computacenter Plc said on Monday its 2017 adjusted pretax results were set to beat its expectations, driven by strength across Germany, the United Kingdom and France.

Business

China's Dalian Wanda Group says 2017 revenue down 10.8 percent

HONG KONG (Reuters) - Chinese conglomerate Dalian Wanda Group said on Saturday its revenue dropped for a second consecutive year, by 10.8 percent in 2017, as the group sold off property assets and faced increasing scrutiny from regulators and lenders.

Business

Venezuela's woes poised to hit U.S. oilfield service firms' earnings

HOUSTON (Reuters) - U.S. oilfield service companies exposed to Venezuela face new hits to earnings from the South American nation's ongoing economic turmoil and U.S. sanctions on the country and state-run oil company PDVSA.

Technology

IBM shares fall on soft profit outlook

(Reuters) - Shares in International Business Machines fell 2.6 percent on Friday as analysts judged a "disappointing" full-year profit forecast showed that the company would take more time to get back on a path of steady growth.

Business

Wall Street traders brace for meager paychecks as bonus season approaches

NEW YORK (Reuters) - Some traders at the largest Wall Street banks are about to get big, fat zeroes for bonuses while they watch markets thrive.

Business

Tax overhaul leads AmEx to first loss in 26 years, buyback suspension

(Reuters) - Credit card issuer American Express Co posted its first quarterly loss in 26 years and said it would not buy back shares for the next six months, both due to the impact of the recently enacted U.S. tax reform.

Technology

IBM returns to growth, but shares drop after recent rally

(Reuters) - International Business Machines Corp's revenue rose for the first time in 23 quarters and beat analysts' estimates as the company's shift into its focus areas such as cloud computing and security services gains traction.

Finance

Factbox: Big U.S. banks' fourth-quarter results muddied by new tax law

(Reuters) - Morgan Stanley reported quarterly results on Thursday, rounding off an earnings season for big U.S. banks marked by across-the-board hit to profits from the U.S. tax overhaul.

Business

Morgan Stanley's wealth management business helps bank top estimates

(Reuters) - Morgan Stanley's quarterly profit dropped almost 60 percent on a provision related to the new U.S. tax law, but adjusted profit beat analyst expectations as strength in wealth management offset a drop in trading revenue.

Top News

Big U.S. lenders reap benefits of higher rates, but savers not so much

NEW YORK (Reuters) - The U.S. Federal Reserve began steadily raising interest rates one year ago, offering a long-awaited tailwind for bank earnings because lenders can charge borrowers more for loans.

Business

Railroad operator CSX's revenue misses as shipments fall

(Reuters) - CSX Corp reported lower-than-expected revenue for the fourth quarter due to a drop in shipments, but beat Wall Street's earnings targets on better prices and cost controls, capping a tumultuous year for the third-largest U.S. railroad operato

Business

BlackRock CEO Fink shows no signs of entering bitcoin ETF race

NEW YORK (Reuters) - BlackRock Inc has profited by being beating its competitors in exchange-traded funds to the punch, but Chief Executive Officer Larry Fink seems happy to be out of step with at least one trend - the race to build a bitcoin fund.

Business

Wells Fargo adds $3.25 billion to consumer legal bill in fourth quarter

(Reuters) - Wells Fargo & Co set aside $3.25 billion in the fourth quarter to cover legal expenses related to probes into its mortgage and sales practices, but its 2018 cost outlook met analyst expectations as the bank tries to rebound from the scandal i

Business

JPMorgan profit beats on higher interest rates; debt trading down

(Reuters) - JPMorgan Chase & Co , the biggest U.S. bank by assets, reported a higher-than-expected quarterly profit on Friday as gains in net interest income offset a slowdown in trading revenue.

Finance

PNC Financial profit more than doubles in fourth quarter

(Reuters) - U.S. regional lender PNC Financial Services reported a better-than-expected quarterly profit on Friday, helped by higher interest income and consumer loan growth.

Business

BlackRock profit beats as ETFs attract more investment

(Reuters) - BlackRock Inc on Friday reported a better-than-expected quarterly profit, as investors flooded into the world's biggest asset manager's exchange-traded funds (ETFs).

Business

Explainer: Investors to scour outlooks for U.S. companies' tax cut plans

NEW YORK (Reuters) - Corporate results for 2017's final quarter will start pouring in next week and are expected to be laden with one-time charges as U.S. companies begin to cope with tax code changes, including a one-time tax on trillions of dollars in p

Business

Delta sees unit revenue rise as quarterly profit beats

(Reuters) - Delta Air Lines Inc reported better-than-expected profit for the fourth quarter on Thursday after more people flew during the holiday season, offsetting higher costs.

Business

Samsung Electronics tips record fourth-quarter profit, misses expectations on strong won

SEOUL (Reuters) - Samsung Electronics Co Ltd on Tuesday estimated a 64 percent jump in fourth-quarter operating profit to a new record, but the guidance fell short of market expectations as the strong won and year-end bonuses dented profits.

Business

U.S. bank gains from tax law start with red ink

NEW YORK (Reuters) - U.S. bank executives and investors expect a long-term boost from the new federal tax code, but the biggest lenders will first need to book multi-billion-dollar charges that will muddle fourth-quarter results.

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