Baer’s reported net income for the first half of CHF 114 million includes a significant amount of acquisition, integration, and one-off items. On an underlying basis, the bank’s net profit was CHF 261 million for the first half, up 26% from the year-ago half, as the bank benefited from higher assets under management and increased client activity. The bank’s underlying return on equity was about … Continue reading BAER Finishes Off Strong 2Q
The People’s Bank of China (PBOC) announced the elimination of the original lending rate floor of 30% discount to benchmark, allowing banks to lend at any discount to benchmark lending rates as they see fit. The PBOC scrapped the cap on lending rates in 2004, and this move will fully liberalize lending rates for banks. Greater pricing flexibility will enable the banks to retain their … Continue reading PBOC Announces Elimination of the Original Lending Rate Floor
People’s United Financial reported net income of $62.1 million, or $0.20 per diluted share, in the second quarter of 2013 compared with $64.8 million, or $0.20 per diluted share, in the second quarter of 2012. Loans across all categories showed strong growth during the quarter, increasing at an annualized rate of 13%. The net interest margin declined to 3.33% for the second quarter compared with … Continue reading PBCT Loan Segment Shows Growth
Chipotle saw a nice sequential uptick in comparable restaurant sales during the second quarter, with much of the 5.5% increase stemming from ongoing peak-hour traffic throughput efforts as well as greater call-to-action marketing. Entering the quarter, there were concerns that competitive pressures (emergent fast-casual restaurant competition and more aggressive promotional activity from traditional quick-service and casual-dining players) might neutralize some of the throughput and marketing … Continue reading Comparable Sales Look Good For Chipotle
Santos’s second-quarter production rose 2% to 12.4 million barrels of oil equivalent (mmboe), marginally below expectations, and full-year 2013 production guidance has been reduced by 3% to between 52 and 55 mmboe. The decline reflects deferred oil and gas production from Chim Sao in Vietnam due to power system constraints, steeper than- expected natural field decline at Sangu, and deferred Carnarvon production due to poor … Continue reading STO Second Quarter Production Has Modest Rise
We will be maintaining our $55 fair value estimate and stable narrow moat trend for DTE Energy DTE after the company announced first-quarter earnings that were driven higher primarily by much colder weather for both the gas and the electric utilities. During the quarter, DTE earned $1.34 per share versus $0.91 per share for the prior-year period. While rates at the gas utility and lower … Continue reading DTE`s 1Q Earnings Surge on Colder Weather and Lower Benefit Costs
