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☆ Stock market next week: Earnings season ramps up with more big bank results
▼ + stars: | 2024-10-11 | by ( Sarah Min | Nicole Teo | ) www.cnbc.com time to read: +6 min

And, with earnings season set to ramp up, that could mean further gains. Already, on Friday, JPMorgan Chase and Wells Fargo were rallying in midday trading after reporting their latest results this week, an auspicious start to the earnings season. A strong earnings season Earnings results next week will be dominated by reports from the banking sector, giving investors further insight into the health of the capital markets as well as the consumer. Several regional banks are also set to announce how they did in the most recent quarter as well, such as PNC Financial Services Group and Citizens Financial Group. Even so, investors are optimistic about the outlook for corporate profits this earnings season, especially with expectations having come down.

Persons: what's, Oppenheimer, Wells Fargo, Charlie Ashley, Ashley, Goldman Sachs, Morgan Stanley, Ross Mayfield, Catalyst's Ashley, Baird's Mayfield, Mayfield, Charles Schwab, Huntington Bancshares Organizations: Dow Jones, Tech, Nvidia, JPMorgan Chase, Traders, Federal Reserve, Catalyst Funds, Nasdaq, Ashley . Bank of America, PNC Financial Services Group, Citizens Financial Group, Private Wealth Management, Treasury, Columbus, Columbus Day, Index, United Airlines, Hunt Transport Services, Citigroup, State, Goldman Sachs Group, Walgreens Boots Alliance, Johnson, Bank of America, PNC Financial Services, UnitedHealth, Price, PPG Industries, Steel Dynamics, Discover Financial Services, CSX, Abbott Laboratories, U.S . Bancorp, Financial Group, Philadelphia Fed, Retail, Manufacturing, Netflix, T Bank Corp, Elevance, Truist, Blackstone, Housing, Schlumberger, Procter, Gamble, Fifth Third Bancorp, Regions Financial, American Express Locations: Ashley, bullish, Prologis, NAHB

☆ Wall Street heads into the week ahead on edge as traders brace for a raft of earnings, economic data
▼ + stars: | 2024-04-12 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

How the corporate America is handling sticky inflation and the prospect of higher interest rates will be top of mind for investors in the week ahead, after this week's choppy moves. The first-quarter earnings season, which kicked off Friday, will give Wall Street insight into how businesses expect to weather an environment of elevated interest rates. More macro data, such as U.S. retail sales, will give insight into how the consumer is handling higher pricing pressures. First-quarter earnings season underway The corporate earnings season kicks into high gear in the week ahead. This week, the small cap Russell 2000 is on track for a losing week, down by more than 1%.

Persons: Bob Doll, CNBC's, Wolfe, Rob Ginsberg, Ginsberg, Goldman Sachs, Morgan Stanley, FactSet, Robert Haworth, Haworth, Charles Schwab, Johnson, D.R, KeyCorp Organizations: Dow Jones Industrial, Exxon Mobil, Costco, Apple, Crossmark, Investments, Investors, Bank of America, Consumer, U.S . Bank, Index, Retail, T Bank, Housing, Manufacturing, Hunt Transport Services, United Airlines, Johnson, Bank of New York Mellon, UnitedHealth Group, Northern Trust, CSX, Discover Financial Services, Prologis, U.S . Bancorp, Philadelphia Fed, American Express, Procter, Gamble, Fifth Third Bancorp, Schlumberger Locations: America, China, NAHB, Vegas Sands, U.S, Horton

☆ SLB profit beats on strength in global drilling activity
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

Courtesy of SLB/Handout via REUTERS/File photo Acquire Licensing RightsCompanies Schlumberger NV FollowOct 20 (Reuters) - SLB (SLB.N) edged past estimates for quarterly profit on Friday as strength in the overseas drilling market to meet the insatiable global appetite for oil drove demand for its oilfield equipment, offsetting weakness in North America. Oilfield services firms have been kept busy as oil and gas companies reinvest their windfall profit, reaped when Russia invaded Ukraine, to secure more offshore and international sources. International revenue rose 12% to $6.6 billion in the third quarter, compared with a year earlier. North America revenue climbed 6%, but declined sequentially due to reduced drilling activity in the onshore U.S. and the Gulf of Mexico. Reporting by Arunima Kumar in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Olivier Le Peuch, Arunima Kumar, Anil D'Silva Organizations: REUTERS, Schlumberger, Thomson Locations: Houston , Texas, Handout, North America, Russia, Ukraine, America, Gulf of Mexico, MidEast, Asia, Bengaluru

☆ SLB to add $5 billion in revenue this year, sees similar growth in 2024
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

SLB said it expects to add about $5 billion in revenue in 2023, compared with its previous estimate to increase revenue by 15%, which worked out to a $4.2 billion growth. It also expects to grow earnings before interest, tax, depreciation and amortization (EBITDA) by $1.5 billion this year. It had previously forecast adjusted EBITDA percentage growth in the mid-20s, which at its midpoint translated to $1.6 billion. "Directionally, we see the potential to repeat this by adding similar revenue and EBITDA dollar growth in 2024," Le Peuch said at a Barclays energy conference. International core revenue is projected to exceed $23 billion in 2023, representing growth in the high teens, Le Peuch added.

Persons: Olivier Le Peuch, SLB, Le Peuch, Arathy Somasekhar, Marguerita Choy Organizations: REUTERS Acquire, Schlumberger, Barclays, Thomson Locations: Houston , Texas, Handout, North America, Houston

☆ Morning Bid: Markets shrug off upbeat news from Japan and China
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

With a Reuters poll pointing to a sharp slowing in Tokyo's core CPI for July next week, Bank of Japan Governor Kazuo Ueda is likely to remain confident about sticking to Japan's ultra-easy policy settings next Friday, keeping the yen on the back foot. China's latest efforts to boost consumption provided a small lift to mainland stocks, but markets continue to look ahead to the Politburo meeting, expected next week, for bigger stimulus announcements. The piecemeal measures unveiled so far suggest there's plenty of scope for disappointment. Where Beijing seems to be having greater impact is in propping up the Chinese yuan , which was holding the bulk of Thursday's gains after another stronger-than-forecast midpoint setting on Friday. A sharp drop in the July GfK consumer confidence gauge, which came in below the lowest Reuters poll forecast, suggests sentiment remains downbeat after what's expected to be a weaker UK retail sales reading for June.

Persons: Sonali Desai, Kazuo Ueda, Edmund Klamann Organizations: Netflix, Bank of Japan, U.S . Federal Reserve, European Central Bank, Reuters, Thales SA, Bank, American Express, Schlumberger NV, Thomson Locations: Asia, Japan, U.S, Beijing, propping

☆ Oilfield firm SLB beats Wall St. estimates for fourth-quarter profit
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +1 min

Companies Schlumberger NV FollowJan 20 (Reuters) - SLB (SLB.N) beat Wall Street estimates for fourth-quarter profit on Friday, driven by strong demand for drilling services and equipment from operators as oil and gas prices remained elevated amid tight supplies. SLB had benefited from increased oil drilling and production activity in North America last year. The top oilfield services firm said revenue from North America rose 27% to $1.63 billion in the reported quarter. Average North America rig count, an early indicator of future output, for Oct-Dec 2022 quarter, rose to 965 from 720 a year earlier, according to data from Baker Hughes. Average international rig count for the quarter stood at 1,872, nearly 22% higher from the previous year.

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