Markets

Wall Street’s first-half profits rocketed 82% to their highest since 2009

New York’s securities industry notched its largest first-half profit since 2009 due to sharp increases in trading and underwriting activity, New York State Comptroller Thomas DiNapoli said in a Thursday report. Pretax profits through the first six months of the year surged 82% to $US27.6 billion. Underwriting revenues hit a […]
Wall Street’s first-half profits rocketed 82% to their highest since 2009
Markets

A Wall Street chief strategist details 4 reasons why big-company profits have been remarkably resilient during the pandemic — and explains how that’s helped the red-hot stock rally

S&P 500 corporate profits are holding up far better than they did in past recessions, and it helping fuel the stock market’s summer rally, says James Paulsen, chief investment strategist at The Leuthold Group. Shrinking GDP typically drives profit declines roughly four to five times larger than what was seen […]
A Wall Street chief strategist details 4 reasons why big-company profits have been remarkably resilient during the pandemic — and explains how that’s helped the red-hot stock rally
Markets

Stitch Fix is surging after crushing earnings

Stitch Fix beat on both the top and bottom lines. Shares were up 94% since going public in November 2017. Watch Stitch Fix trade live. Stitch Fix, an online subscription and personal styling service, surged 13.7% to $US30.40 a share Monday evening after posting strong profits that more than doubled […]
Stitch Fix is surging after crushing earnings
Markets

Profits at the big four banks have shrunk by a combined 5.5%

The big four banks had $29.49 billion in combined full year cash earnings, down $1.72 billion or 5.5% from 2017. Return on equity decreased by an average of 170 basis points to 12.2%. Average net interest margins fell by an average of 1.25 basis points to 2%. Bad debt expenses […]
Profits at the big four banks have shrunk by a combined 5.5%
Markets

How Australia’s airports squeeze more cash from each passenger

Profits per passenger keep rising at Australia’s biggest four capital city airports. And travellers are paying for this through higher ticket prices, says consumer watchdog the ACCC. Sydney Airport tops the revenue league table with $18.3 per passenger. The near monopoly airports at Brisbane, Melbourne, Perth and Sydney all significantly […]
How Australia’s airports squeeze more cash from each passenger