Capital One Financial Corporation reported net income of $1.1 billion or $1.87 per diluted share in the second quarter of 2013, compared with $1.0 billion or $1.79 per diluted share last quarter, and $92 million in second-quarter 2012. Last year’s results reflected significant purchase accounting impacts as Capital One closed the acquisition of HSBC U.S. card business. The largest impact was the larger loan loss … Continue reading COF Sailing Along Into Q3
Melco Crown Entertainment announced solid second quarter results that were above analysts expectations and consensus estimates. Revenue increased 38% to $1.3 billion (above consensus of $1.2 billion) and adjusted EBITDA increased 62% to $330 million (well above consensus of $283 million), as the company’s City of Dreams casino on the Cotai Strip continued to take share from casinos on the Macau peninsula. Adjusted EBITDA margins … Continue reading Melco Crown Reports Robust Earnings in Second Quarter
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
