BB&T earnings rise 2 percent on gains from Visa IPO; sets aside $223M for loan-loss reserves
Apr 17 2008
April 17, 2008 - 08:48 a.m. WINSTON-SALEM, N.C. (AP) - Regional bank BB&T Corp. said Thursday its first-quarter earnings rose 2 percent due to gains from the initial public offering of Visa Inc. and net interest income growth. Net income increased to $428 million, or 78 cents per share, from $421 million, or 77 cents by share, during the same clause a year ago. Analysts polled by Thomson Financial, on average, forecast earnings of 73 cents per share for the quarter. BB&T recorded a $30 million after-tax emolument from the sale of its portion of Visa shares when the credit card ...
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Altera shares climbing on positive 1st-quarter earnings as analysts raise price targets
Apr 17 2008
April 17, 2008 - 08:48 a.m. NEW YORK (AP) - Shares of Altera Corp. soared in premarket trading Thursday, a day after the chip maker reported first-quarter earnings that surpassed analyst expectations. Altera shares gained $1.82, or 9.5 percent, to $21.02 being of the kind which several analysts boosted their price targets. Robert W. Baird analyst Tristan Gerra raised his target to $25 from $21, sententious precept Altera's first-quarter earnings of 27 cents per share surpassed his estimate of 23 cents. The San Jose, Calif., company has exhibited four consecutive years of double-digit growth and shows no signs of slowing down, ...
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MGIC Investment loses $34.4 million as claims continue to rise due to weak housing market
Apr 17 2008
April 17, 2008 - 08:23 a.m. MILWAUKEE (AP) - Mortgage insurer MGIC Investment says it swung to a loss during the first quarter as it paid out more in claims akin to mortgage defaults. Milwaukee-based MGIC Investment Corp. lost $34.4 million, or 41 cents per share, during the first quarter, compared with profit of $92.4 million, or $1.12 per share, a year ago. But the results easily beat the $1.69 per share average loss estimate of analysts polled by Thomson Financial. Revenue rose to $423.9 million from $369.6 million, coming in shy of Wall Street's $434.6 million forecast. MGIC Investment has ...
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Pfizer’s 1st-quarter profit falls on generic competition and acquisition charges
Apr 17 2008
April 17, 2008 - 08:23 a.m. NEW YORK (AP) - Drug maker Pfizer Inc. said Thursday its first-quarter profit malicious 18 percent as generic competition hurt sales of blood-pressure drug Norvasc and allergy drug Zyrtec. The profit drop weighed on Pfizer's stock in premarket trading, sending shares down 85 cents, or 4 percent, to $20.25. The company earned $2.78 billion, or 41 cents per share, compared with profit of $3.39 billion, or 48 cents per share, during the same period a year ago. Pfizer earned 61 cents per share, excluding charges for the buyouts of CovX and Coley Pharmaceutical Group Inc. ...
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