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US stocks slip on earnings, slow growth
NEW YORK — Stocks are slightly lower in afternoon trading after the U.S. said economic growth slowed more than expected in the summer. Earnings reports came in mixed, with companies including Buffalo Wild Wings and camera maker GoPro plunging after weak results. THE SCORE: Stocks have been lower all day, but they’ve held onto most […]
Investors hope earnings lift markets as fears fade
NEW YORK — After fretting over a Greek bailout, a collapse in Chinese stocks and the timing of an interest rate increase, investors are hoping U.S. corporate earnings will bring more reassuring news this month. Companies have started to report second-quarter results, and early announcements bode well for investors unnerved by worrisome headlines and a […]
Fannie, Freddie post solid earnings for 1Q
WASHINGTON (AP) — Government-controlled mortgage financers Fannie Mae and Freddie Mac posted solid earnings for the January-March period as the U.S. housing market continued to recover. Gains over recent quarters have enabled the companies to fully repay their taxpayer aid after being rescued by the government in 2008. Fannie Mae reported Thursday that it earned […]
Constellation Brands 3Q results beat, ups outlook
VICTOR — Constellation Brands’ third-quarter net income surged 93 percent, continuing to benefit from the strength of Crown Imports. The wine, beer and liquor company’s adjusted earnings and revenue topped analysts’ estimates, and it boosted its full-year adjusted earnings forecast yet again. The stock rose more than 6 percent before Wednesday’s market open. For the […]
US banks earn record $42.2B in 2nd quarter
WASHINGTON — U.S. banks earned more from April through June than during any quarter on record, aided by a steep drop in losses from bad loans. The Federal Deposit Insurance Corp. said the banking industry earned $42.2 billion in the second quarter, up 23 percent from the second quarter of 2012. About 54 percent of […]
Yahoo’s 3Q earnings, revenue tops forecast
SAN FRANCISCO — Yahoo has ushered in Marissa Mayer as its new CEO with a third-quarter earnings report that topped analyst estimates. The results announced Monday show Yahoo’s net revenue barely grew at a time when advertisers are spending more money marketing their products and services online. Nevertheless, the numbers were slightly better than analysts […]
Fannie Mae earned $2.7B in Q1, doesn’t seek aid
WASHINGTON — U.S. mortgage giant Fannie Mae made money in the first three months of the year and is not seeking additional federal aid. It’s the first time the company has reported a net income gain since it was taken over by the government during the 2008 financial crisis. Fannie on Wednesday reported that […]
US: Bank earnings hit five-year high in 2011
WASHINGTON — A surge in earnings by the biggest U.S. banks at the end of last year made 2011 the most profitable time for the industry in five years. More earnings and fewer troubled banks suggest the industry has healed since the 2008 financial crisis. The Federal Deposit Insurance Corp. said Tuesday that bank earnings […]
Thomson Reuters posts higher 3Q earnings
NEW YORK — News and information provider Thomson Reuters Corp. said Tuesday that its third-quarter earnings grew 38 percent because of higher revenue and lower operating costs. The company earned $369 million, or 44 cents per share, up from $268 million, or 32 cents per share, a year earlier. Excluding special items, Thomson Reuters reported […]
Bank of America earns $6.2B on accounting gains
NEW YORK — Bank of America earned $6.2 billion in the third quarter on accounting gains and the sale of a stake in a Chinese bank, which offset lower revenue and income in its credit card, real estate and investment banking businesses. Bank of America is also no longer the largest bank ...
Thomson Reuters nearly doubles 2Q earnings
NEW YORK CITY — News and information provider Thomson Reuters Corp. said Thursday that its second-quarter net income nearly doubled thanks to growth in its professional division. At the same time, the company’s markets business ...
Time Warner earnings rise 22 pct, helped by HBO
NEW YORK CITY — Time Warner Inc., the owner of Warner Bros., HBO, CNN and DC Comics, on Wednesday said its fourth-quarter profit jumped 22 percent, helped by strong subscription and advertising increases in its TV operations and cost-cutting in publishing.
Case Digests
- NYS Advisory Committee on Judicial Ethics – Review of another judge’s actions: Opinion 22-153
- NYS Advisory Committee on Judicial Ethics – Charitable contributions: Opinion 22-150
- Second Circuit – Class action settlement: Moses v. The New York Times Company
- Fourth Department – Breach of contract: Hausrath Landscape Maintenance Inc. v. Caravan Facilities Management LLC
- Second Circuit – New York Child Victim’s Act: Kane v. Mount Pleasant CSD; Coe v. Eastport Union Free School
- NYS Advisory Committee on Judicial Ethics – Appointing law clerk: Opinion 22-149
- Fourth Department – Bill of particulars: Harris v. Rome Memorial Hospital, et al.
- NYS Advisory Committee on Judicial Ethics – Accusations against co-judge: Opinion 22-148
- Fourth Department – Medicaid: Washington Center for Rehabilitation and Nursing Home v. NYS Dept. of Health
- Fourth Department – Criminal possession of a firearm: People v. Wilson
- Fourth Department – Promoting prostitution: People v. Watts
- Second Circuit – Class certification: Arkansas Teachers Retirement System V. Goldman Sachs Group Inc.
Law News
- Fourth Department affirms $400K judgment in contract dispute
- Could legislation limiting non-compete agreements kick off a new era of workplace disputes?
- Fourth Department affirms decision in NY property dispute
- Greenlight Networks selects Buffalo-based attorney as general counsel
- Barclay Damon hires attorney Matt Smith
- Rochester man sues Geneseo police, alleging false arrest, assault
- The Daily Record’s Power List for Intellectual Property 2023
- NY ethics panel says judges can join NRA
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