Oil prices pump higher, WTI knocks on $69.00 despite rising US stockpiles

Crude oil prices knocked higher on Wednesday as consumption indicators signal that demand for crude is on the rise and WTI kicked higher to 68.96 despite a continuing buildup in US inventories.US crude oil production hit 11 million barrels per day and the US Energy Information Administration (EIA) showed that American crude oil stocks rose by 5.8 million barrels in the previous week and net crude imports into the US also lifted by 2.2 million per day. US production continues to climb and imports of foreign [read more]

Virtual banking is set to shake up Hong Kong

Hong Kong long a global leader in banking and finance is bracing for the arrival of socalled virtual banks financial institutions without physical branches where all transactions are online. Authorities are keen to raise Hong Kongs game in financial technology or fintech part of broader ambitions to turn the semiautonomous Chinese territory into a smart city amid intensifying regional and global digital competition. Financial regulator Hong Kong Monetary Authority released revised guidelines for virtual banks [read more]

Asian shares edge higher, following Wall Street's advance on strong earnings

Asian shares carved out moderate gains in Thursday trade taking cues from Wall Streets overnight advance as investors there parsed through strongerthanexpected corporate earnings. The Nikkei 225 edged higher by 0.43 percent in the morning. The mining sector led gains in early trade rising 3.75 percent but consumer stocks traded lower. Banks steelmakers and semiconductor industry plays climbed with Advantest rising 3.93 percent. Over in South Korea the Kospi tacked on 0.33 percent as [read more]

eBay Earning Higher But The Company Showing Sign Of Slow down

eBay Inc. ( EBAY ) released earnings for its second quarter that increased from the same period last year.The companys bottom line came in at $638 million or $0.62 per share. This compares with $29 million or $0.03 per share in last years second quarter.Excluding items eBay Inc. reported adjusted earnings of $533 million or $0.53 per share for the period.Analysts had expected the company to earn $0.51 per share according to figures compiled by Thomson Reuters. Analysts estimates typically exclude special items.The companys [read more]

AMEX's Earning Beat Forecast, Stock Up 1.8%

American Express (NYSEAXP) second quarter financial results posting earnings of $1.84 per share and revenues of $10 billion. Shares of AXP are up roughly 18% over the last year and 4% in the last four weeks. American Express stock also climbed 1.80% to hit $102.97 per share on Wednesday prior to the release of its Q2 earnings results.AMEX beat earnings estimates posting earnings of $1.84 per share just beating consensus estimate of $1.83 per share. AMEXs secondquarter earnings climbed 25% from $1.47 per share in the prioryear [read more]

IBM stock rises after earnings beat

IBM stock fluctuated and then rose to more than 2.5 percent above the $144.52 closing price after the company reported betterthanexpected secondquarter earnings results on Wednesday. Heres how the company did Earnings $3.08 per share excluding certain items vs. $3.04 per share expected by analysts according to Thomson ReutersRevenue $20 billion vs. $19.85 billion as expected by analysts according to Thomson Reuters This marks IBMs third consecutive quarter of revenue growth following five years of [read more]

A Look At Alibaba (NYSE:BABA) Performance And Forecast

Alibaba Group Holding Limited (NYSEBABA) has the market capitalization of $480.79B. Its EPS was $3.69 while outstanding shares of the company were 2.53B.Active and passive shareholders always require every bit of information available regarding his chosen security and this include keeping a close watch on fundamental and technical data.Trading volume is the number of shares that point towards the overall activity of a security or market for a given period. Trading volume is an important technical indicator a shareholder uses to confirm a trend or trend reversal. The Alibaba Group Holding [read more]

Goldman Sachs beats profit estimates, but shares decline on legal costs, underwhelming trading

Goldman Sachs said profit surged 40 percent to $2.57 billion in the second quarter exceeding analysts estimates on betterthanexpected revenue from every major business with the exception of trading. The stock slipped as the company said legal and regulatory costs increased. Earnings of $5.98 per share beat the $4.66 estimate of analysts surveyed by Thomson Reuters. Companywide revenue rose 19 percent to $9.40 billion higher than the $8.74 billion estimate. Three of the New Yorkbased banks four main businesses all posted surprisingly strong results thanks to [read more]

Swedbank Q2 net profit beats forecast

Swedish banking group Swedbank reported a bigger than expected rise in secondquarter net earnings on Wednesday on the back of higher income from trading and a reversal of credit impairments.Swedbank said in a statement net profit rose to 6.01 billion Swedish crowns ($678.9 million) from a yearago 4.75 billion to come in above a mean forecast for 5.35 billion in a poll of analysts.Previously announced oneoff items where a capital gain from the sale of a stake in credit information provider UC more than offset an ITrelated impairment also helped boost [read more]

Netflix pares losses after dropping on subscriber growth

Netflix pared losses Tuesday ending the day just 5 percent down after initially falling as much as 14 percent on a big miss on subscriber growth. The stock was earlier on pace for its worst day in two years tracking for the names biggest singleday drop since July 19 2016 when it fell 13 percent after a similar earnings report of weakerthanexpected subscriber growth. The shares recovered by midday and closed at $379.48. Netflix has [read more]