Selfie is the word of 2013
Have you ever made a selfie? A photo about yourself, made by yourself? Selfie has become the word of 201. See why.Read More >> Continue reading Selfie is the word of 2013
BBVA Cuts Stake to 9.9% in CITIC Bank
Banco Bilbao Vizcaya Argentaria announced that it is reducing its 15% stake in China CITIC Bank to 9.9% in order to increase its Basel III capital ratio. Because it will be below 10%, the CITIC stake will no longer be considered a “significant” investment, which alters the accounting methodology. The accounting will change from the equity method to available for sale, which requires marking to market. … Continue reading BBVA Cuts Stake to 9.9% in CITIC Bank
Zions Bancorp’s Earnings Triple in Q3
Zions Bancorporation’s earnings more than tripled in the third quarter, rising to $210 million, or $1.12 per diluted share, from $62 million, or $0.34 per share, a year earlier. A preferred stock redemption lifted the latest profit tally by $126 million, or $0.68 per share. We are not changing our fair value estimate or our economic moat rating at this time. Net interest income fell … Continue reading Zions Bancorp’s Earnings Triple in Q3
Diageo Reports Solid Sales Numbers Across North America
Diageo issued a brief interim management statement for the three months ended Sept. 30. Overall, the company’s organic net sales climbed 3.1% in the period, led by North America (up 5.1%) and Latin America and Caribbean (up 10.9%). Analysts continue to believe that over the next decade Diageo will grow revenue by almost 6% per year and earnings per share by roughly 8% to 9% … Continue reading Diageo Reports Solid Sales Numbers Across North America
Steel Dynamics Delivers Strong Sequential Growth in Quarter
In the third quarter of 2013, Steel Dynamics delivered improved sequential operating results. Companywide operating income increased 64% to $113 million in the third quarter from a base of $69 million in the second quarter. While shipment volume increased across nearly every product line, steel operating income per ton increased to $94, which amounts to the company’s best result since the third quarter of 2011. … Continue reading Steel Dynamics Delivers Strong Sequential Growth in Quarter
Blackstone Reports Net Income Increase in Third Quarter
Despite facing difficult year-over-year comparisons, narrow-moat rated Blackstone reported positive results for the third quarter, with economic net income, or ENI, rising 3% on a 1% increase in revenue. Total assets under management, or AUM, reached a record $248 billion, up 21% when compared with third quarter 2012, with double-digit gains reported in each of its investment operations. Fee-earning AUM rose just 12% year over … Continue reading Blackstone Reports Net Income Increase in Third Quarter
