American Express reported a 9 percent jump in second-quarter profit, on higher card spending by customers, lower loan-loss provision and gains related to its business travel division. Results for the quarter were in line with Wall Street estimates.
Pharmacy benefits manager Express Scripts Holding Co. (ESRX), Tuesday reported a smaller second-quarter profit as revenues declined, but earnings trumped analysts' estimates by a penny with revenues also surpassing expectations. Looking forward, the company tightened its 2014 earnings forecast.
Micro-blogging site Twitter Inc said Tuesday after the markets closed that its second quarter loss widened from last year, hurt mainly by stock-based compensation expense, even as revenue more than doubled thanks to growth in advertising. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
US President Back Obama on Tuesday announced a new round of sanctions against Russia over Moscow's continued involvement in the ongoing conflict in Ukraine, hours after the European Union decided to expand its own sanctions imposed on Russia over the same issue. "Because we are closely coordinating our actions with Europe, the sanctions we are announcing today will have an even bigger bite.
Amgen reported a 23 percent jump in second-quarter profit, mainly from sales of rheumatoid arthritis drug Enbrel, and Prolia for treatment of postmenopausal osteoporosis. The results topped Street estimates. Amgen raised its guidance for 2014 and said it would cut up to 2,900 jobs to optimize resource allocation as the biotechnology giant prepares to unleash its product pipeline.
After showing a notable move to the upside in early trading on Tuesday, stocks showed a substantial downturn over the course of the session. Concerns about the impact of new sanctions against Russia weighed on the markets.
A day after lawmakers announced an agreement on compromise legislation to reform the Veterans Affairs Department, the Senate voted unanimously Tuesday to confirm a new head of the scandal-plagued department.
U.S. crude oil ended lower for a second straight session on Tuesday, ahead of the Federal Reserve's rate decision and the official U.S. crude oil inventory data.
The Federal Reserve, which concludes it two-day monetary policy meeting tomorrow, is widely expected to reduce its quantitative easing by...
Looking to increase pressure on Congress, the White House released a report on Tuesday warning of the economic costs of delaying action to address climate change.
With the August recess looming, House Republican leaders are hopeful they can pass legislation to address the crisis along the U.S.-Mexico border before the end of the week. The House is expected to vote on a bill providing $659 million in funding for the border crisis, well below the $3.7 billion requested by the Obama administration.
Gold futures ended lower on Tuesday, as investors remained focused on the U.S. Federal Reserve's monetary policy announcement, due Wednesday.
The Fed is widely expected to slash its asset purchases by another $10 billion, cutting the size of the program down to $25 billion per month.
After moving mostly higher in early trading on Tuesday, stocks have given back ground over the course of the trading session. A negative reaction to news of new European sanctions against Russia contributed to the pullback by the markets.
Consumer confidence in the U.S. improved for the third consecutive month in July, according to a report released by the Conference Board on Tuesday, with the consumer confidence index jumping to its highest level in almost seven years.
Stocks have moved mostly higher in early trading on Tuesday after ending the previous session roughly flat. The major averages have climbed into positive territory, although there does not seem to be much conviction behind the upward move.
Diversified media company New York Times Co. reported Tuesday a profit for the second quarter that more than halved from last year, as an increase in circulation revenues failed to offset slumping ad sales. Both adjusted earnings per share from continuing operations and quarterly revenues came in below analysts' expectations.