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American Express profit rises, but it sets aside more money for possible defaults

Published Mon, 11 Nov 2024 08:41:18 GMT

American Express saw its profit and revenue climb in the second quarter and credit card use is climbing, but the company’s stock slipped before the market open as it set aside more money for possible defaults on payments. American Express earned $2.17 billion, or $2.89 per share, topping Wall Street expectations for $2.80, according to analysts surveyed by Zacks Investment Research. A year earlier the company earned $1.96 billion, or $2.57 per share.Total provisions for credit losses were $1.2 billion. In the prior-year period it was $410 million, theNew York company said, citing higher net write-offs and a net reserve build of $327 million, compared with a net reserve build of $58 million a year ago.Shares fell nearly 4% before the market opened Friday.Revenue, net of interest expense, climbed to $15.05 billion from $13.4 billion, mostly due to higher average loan volumes and increased card member spending. That was short of Wall Street projections for $15.42 billion. Card me...

World Acceptance: Fiscal Q1 Earnings Snapshot

Published Mon, 11 Nov 2024 08:41:18 GMT

GREENVILLE, S.C. (AP) — GREENVILLE, S.C. (AP) — World Acceptance Corp. (WRLD) on Friday reported earnings of $9.5 million in its fiscal first quarter.The Greenville, South Carolina-based company said it had net income of $1.62 per share.The subprime consumer lender posted revenue of $139.3 million in the period._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WRLD at https://www.zacks.com/ap/WRLDSource

Huntington Bancshares: Q2 Earnings Snapshot

Published Mon, 11 Nov 2024 08:41:18 GMT

COLUMBUS, Ohio (AP) — COLUMBUS, Ohio (AP) — Huntington Bancshares Inc. (HBAN) on Friday reported second-quarter profit of $559 million.The Columbus, Ohio-based bank said it had earnings of 35 cents per share.The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.The regional bank holding company posted revenue of $2.72 billion in the period. Its revenue net of interest expense was $1.85 billion, also topping Street forecasts. Seven analysts surveyed by Zacks expected $1.84 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HBAN at https://www.zacks.com/ap/HBANSource

Live updates | Australian Travis Smyth aces 17th hole at British Open

Published Mon, 11 Nov 2024 08:41:18 GMT

TRAVIS SMYTH ACES 17TH HOLEHOYLAKE, England (AP) — Australian Travis Smyth has aced the 17th hole at the British Open.Smyth hit a high 9-iron tee shot that bounced twice before going in the picturesque hole that played 132 yards long on Friday.There was a huge roar from the crowd, and Smyth raised his right arm to celebrate as his caddie and playing partners came over to congratulate him. It was the first hole-in-one at Hoylake this week.The 17th was redesigned to add drama to the Open at Royal Liverpool this year, challenging players with an elevated green well protected by steep slopes and deep bunkers. High winds coming from the Irish Sea made it difficult for players to find the putting surface.The 310th-ranked Smyth was 2-over par for the round before making the ace. He finished his round at 1-over 72 and was at 8 over for the tournament, unlikely to make the cut.___WHAT TO KNOW— A day of surprises at British Open.— South African amateur Christo Lamprecht is a big man with a bi...

Interpublic: Q2 Earnings Snapshot

Published Mon, 11 Nov 2024 08:41:18 GMT

NEW YORK (AP) — NEW YORK (AP) — Interpublic Group of Cos. (IPG) on Friday reported second-quarter earnings of $265.5 million.The New York-based company said it had profit of 68 cents per share. Earnings, adjusted for one-time gains and costs, came to 74 cents per share.The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.The marketing and advertising company posted revenue of $2.67 billion in the period. Its adjusted revenue was $2.33 billion, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $2.4 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IPG at https://www.zacks.com/ap/IPGSource

American Express: Q2 Earnings Snapshot

Published Mon, 11 Nov 2024 08:41:18 GMT

NEW YORK (AP) — NEW YORK (AP) — American Express Co. (AXP) on Friday reported second-quarter profit of $2.17 billion.On a per-share basis, the New York-based company said it had net income of $2.89.The results topped Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of $2.80 per share.The credit card issuer and global payments company posted revenue of $15.05 billion in the period, missing Street forecasts. Fifteen analysts surveyed by Zacks expected $15.42 billion.American Express expects full-year earnings to be $11 to $11.40 per share.American Express shares have risen 20% since the beginning of the year, while the S&P’s 500 index has climbed 18%. The stock has climbed 19% in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXP at https://www.zacks.com/ap/AXPSource

AutoNation: Q2 Earnings Snapshot

Published Mon, 11 Nov 2024 08:41:18 GMT

FORT LAUDERDALE, Fla. (AP) — FORT LAUDERDALE, Fla. (AP) — AutoNation Inc. (AN) on Friday reported second-quarter earnings of $272.5 million.On a per-share basis, the Fort Lauderdale, Florida-based company said it had profit of $6.02. Earnings, adjusted for non-recurring costs, were $6.29 per share.The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $5.83 per share.The auto retailer posted revenue of $6.89 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $6.64 billion.AutoNation shares have climbed 65% since the beginning of the year, while the S&P’s 500 index has increased 18%. The stock has climbed 45% in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AN at https://www.zacks.com/ap/ANSource

Roper Technologies: Q2 Earnings Snapshot

Published Mon, 11 Nov 2024 08:41:18 GMT

SARASOTA, Fla. (AP) — SARASOTA, Fla. (AP) — Roper Technologies Inc. (ROP) on Friday reported second-quarter profit of $364.9 million.On a per-share basis, the Sarasota, Florida-based company said it had profit of $3.40. Earnings, adjusted for one-time gains and costs, came to $4.12 per share.The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $4 per share.The industrial equipment maker posted revenue of $1.53 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $1.5 billion.For the current quarter ending in September, Roper Technologies expects its per-share earnings to range from $4.16 to $4.20. Analysts surveyed by Zacks had forecast adjusted earnings per share of $3.44.The company expects full-year earnings in the range of $16.36 to $16.50 per share._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data fro...

Tony Bennett, masterful stylist of American musical standards, dies at 96

Published Mon, 11 Nov 2024 08:41:18 GMT

NEW YORK (AP) — Tony Bennett, the eminent and timeless stylist whose devotion to classic American songs and knack for creating new standards such as "I Left My Heart In San Francisco" graced a decadeslong career that brought him admirers from Frank Sinatra to Lady Gaga, died Friday. He was 96, just two weeks short of his birthday.Publicist Sylvia Weiner confirmed Bennett's death to The Associated Press, saying he died in his hometown of New York. There was no specific cause, but Bennett had been diagnosed with Alzheimer's disease in 2016.The last of the great saloon singers of the mid-20th century, Bennett often said his lifelong ambition was to create "a hit catalog rather than hit records." He released more than 70 albums, bringing him 19 competitive Grammys — all but two after he reached his 60s — and enjoyed deep and lasting affection from fans and fellow artists.Bennett didn’t tell his own story when performing; he let the music speak instead — the Gershwins and Cole Porter, Ir...

Young boy meets BSO deputies who saved his life after bike accident

Published Mon, 11 Nov 2024 08:41:18 GMT

Broward Sheriff’s Office deputies came face-to-face with eight-year-old Joey, whom they heroically rescued from underneath an SUV following a bike accident back in May.The incident occurred when Joey was riding his bike and was struck by the vehicle, leaving him trapped underneath it. Witnesses struggled to lift the heavy SUV off him, but their efforts were not enough. When the deputies arrived, they sprang into action to rescue Joey.Sergeant Dimitri French from the Broward Sheriff’s Office described the scene. “When he was underneath the vehicle, it was a scream like you could tell that he was in pain,” he said. “He’s almost like being tortured; he’s underneath a running vehicle, so you can just imagine that the exhaust is running, the temperatures are very high. It was a very hot day, so he’s sandwiched between the asphalt and a hot car.”Over two months since that fateful day, Joey and his family visited the team of deputies wh...