In the first quarter of the year, Spain’s largest bank, Grupo Santander SAN , earned EUR 1,205 million, up significantly from the EUR 401 million it earned in the trailing quarter. Most of this increase was due to the non-recurrence of special loan loss provisions in the fourth quarter; excluding this, earnings were up 18%…
In the first quarter, BASF BAS continued to rely on its diversified product mix in what has been a challenging market environment for chemical producers. BASF’s agriculture and oil and gas businesses propped up sales in the first quarter, as revenues increased 4.8% year over year. On a geographic basis, management noted that growth in…
Credit Suisse CS earned CHF 1,026 million (CHF 0.76 per diluted share) in the first quarter compared with CHF 41 million in the year-ago quarter and CHF 221 million in the trailing quarter on better trading results and lower expenses. This quarter’s reported profit, which included CHF 80 million of noncash own-debt losses, amounted to…
Kirby’s KEX first-quarter revenue fell 1% from last year. The decline was driven by anemic demand for United’s pressure pumping units, tempered by solid inland trends and improvement in coastal operations. The marine transportation business (75% of first-quarter sales) saw revenue increase 25%, thanks to persistent petrochemical and crude oil shipment demand, which is supporting…
ARM Holdings reported strong third-quarter earnings and gave investors a solid, but not spectacular, fourth-quarter outlook that was relatively in line with our expectations. We will maintain our moat rating for ARM but may raise our fair value estimate by about 10%. Nonetheless, we still believe the company’s stock price reflects overly optimistic assumptions about…
Shares of HomeAway (NASDAQ:AWAY) are dipping in after-hours trade as the online vacation rental company said it intends to offer $350 million aggregate principal amount of convertible senior notes due 2019 in a private placement to qualified institutional buyers, as well as expects to grant the initial purchasers of the notes a 30-day option to…
