Tag Archives: profit

Fannie Mae posts $2B profit for 3Q

WASHINGTON — Mortgage giant Fannie Mae reported net income of $2 billion for the July-September period, down from $3.9 billion a year earlier. The government-controlled company attributed the third-quarter decline in profit mainly to losses on the investments it uses ...

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Fannie Mae posts $4.6B profit in 2Q

Fannie-Mae-FEAT

WASHINGTON — Mortgage giant Fannie Mae reported net income of $4.6 billion from April through June, up from $3.7 billion a year earlier. Rising interest rates enabled Fannie to post gains on the investments it uses to hedge against swings ...

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Data-breach costs take toll on Target profit

NEW YORK — Target Corp. will be feeling the financial pain for a while from the theft of credit card numbers and other information from millions of its customers. The retailer said Wednesday that its fourth-quarter profit slumped 46 percent. ...

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Constellation Brands’ 2Q profit beats Street

VICTOR — Constellation Brands’ second-quarter net income surged, bolstered by a large gain related to Crown Imports and a lower-than-expected tax rate. The wine, beer and liquor company’s adjusted earnings topped Wall Street’s view, and it lifted its full-year adjusted ...

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Constellation Brands 4Q profit falls

VICTOR — Wine, beer and liquor company Constellation Brands Inc. said Wednesday that its net income fell 21 percent in its fiscal fourth quarter as it dealt with a write-off and an income tax provision. But its adjusted profit and ...

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Corning’s 3Q profit rises 3 percent

Specialty glass maker Corning Inc. said Wednesday its profit rose 3 percent in the third quarter, lifted by surging sales of glass for flat-panel televisions and optical fiber. The results handily beat Wall Street expectations. Its shares rose almost 5 percent in premarket trading.

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First Niagara 3Q net income up 25 pct

BUFFALO — First Niagara Financial Group Inc. said Thursday that its profit rose 25 percent in the third quarter as loan quality continued to improve, its commercial lending business picked up and deposits grew. The Buffalo-based bank posted net income ...

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FDIC backs ban on banks trading for own profit

WASHINGTON — Banks would be barred from trading for their own profit instead of their clients under a rule being proposed by federal regulators. The Federal Deposit Insurance Corp. backed the rule on a 3-0 vote. The ban on so-called proprietary trading was required under last year’s financial overhaul law.

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Constellation Brands’ 2Q profit climbs

Wine and spirits maker Constellation Brands Inc. said Thursday its fiscal second-quarter profit jumped 78 percent on price hikes, improved wine and spirits sales in North America, and a drop-off in charges after four years of cost-cutting.

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