Tag: earnings

Insurance Stock Q2 Earnings Roster for Aug 3: AIG, CNA & More

The insurance industry, which broadly encompasses life, property and casualty (PC) as well as multiline insurers, has been suffering a setback from the COVID-19-led adversity. In fact, insurers had earlier predicted that their second-quarter results will be impacted significantly due to coronavirus-induced restrictions. The June quarter is likely to have witnessed a decline in new sales of insurance products.

The life insurance industry has been particularly hit hard by the very low interest rate levels, given their exposure to products that provide guaranteed minimum returns. PC insurers are witnessing weak investment income, induced by soft investment yields and equity market

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Retailers Beat Low Bar While Banks Stay Cautious: Earnings Wrap

(Bloomberg) — Some consumer companies beat depressed earnings expectations but the broader outlook for the rest of the year remains murky based on forecasts from chemical producers and banks, particularly with fears of a possible resurgence in virus infections.

Gucci-owner Kering SA said it was seeing signs of a recovery through online sales even as its second-quarter revenue plunged. French grocer Carrefour SA was also boosted by a standout performance in its Latin American arm. And though U.K. high street bellwether Next Plc’s sales fell by nearly three-quarters, the expectations were even worse.

European companies’ second-quarter reports so far have

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Stocks open mixed with earnings, stimulus talks in focus

Stocks traded choppily Monday morning ahead of a busy week of corporate earnings results, a Federal Open Market Committee monetary policy meeting and plethora of economic data reports.

The S&P 500 and Nasdaq Composite each opened slightly to the upside, with the materials and information tech sectors leading advances in the S&P 500. Shares of Amazon (AMZN) and Apple (AAPL) each rose more than 1%, with both companies set to report second-quarter results later this week.

Meanwhile, gold prices jumped to a record Monday morning, closing in on the $2,000 per ounce mark as investors piled into the safe haven

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Las Vegas Sands (LVS) Q2 Earnings Miss Estimates, Fall Y/Y

Las Vegas Sands Corp. LVS reported dismal second-quarter 2020 results, wherein earnings and revenues not only missed the Zacks Consensus Estimate but also declined sharply on a year-over-year basis.  

Despite the dismal performance, the company is optimistic about future growth on a strong balance sheet. Also markets in Macao, Singapore and Las Vegas are in the initial stages of recovery amid the pandemic effect.

Earnings & Revenue Discussion

The company reported adjusted loss per share of $1.05, wider than the Zacks Consensus Estimate of a loss of 72 cents. In the prior-year quarter, the company reported adjusted earnings per share

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Goldman (GS) Q2 Earnings Beat, Provisions Up on Coronavirus Scare

Goldman Sachs GS reported second-quarter 2020 earnings per share of $6.26, significantly surpassing the Zacks Consensus Estimate of $3.97. Also, the bottom-line figure compares favorably with the earnings of $5.81 per share recorded in the year-earlier quarter.

The stock rallied more than 5% in pre-market trading, reflecting investors’ optimism with the results. Notably, the full-day trading session will display a clearer picture.

With the market volatility flaring up on the rising coronavirus concerns, the bank’s results were aided by higher Fixed Income, Currency and Commodities Client Execution (FICC) revenues during the reported quarter. Also, underwriting business displayed strength. In addition,

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