Stock News

Citigroup share price down, profits hit by legal costs

Citigroup Inc reported on Thursday that its fourth-quarter performance was hurt by a decline in trading revenue and a previously announced legal charge. Net income fell 86% to $350 million in the three months ended December 31, after a $3.5 billion deduction in legal and restructuring charges. During the same quarter of 2013, Citigroup stated a […] Read more

Bank of America share price down, reports performance below expectations

Bank of America Corp, the second-largest US lender, announced on Thursday that its fourth-quarter profit fell, largely due to decline in revenue from fixed-income trading. Net income for the three months ended December 31 slided to $3.1 billion, compared to a net income of $3.4 billion a year earlier. Earnings per share stood at $0.25, […] Read more

Google share price down, boosts efforts in self-driving vehicles

Google Inc has initiated negotiations with the worlds major car companies to speed-up the development of self-driving vehicles and release them by 2020. The internet giant has not yet decided whether to participate in the self-driving vehicle market as a manufacturer or a supplier of technology to already proven carmakers. “Wed be remiss not to […] Read more

BlackBerry share price down, denies negotiation talks with Samsung

BlackBerry Ltd and Samsung Electronics have both denied rumors that the South Korean technology giant has made an acquisition offer to the Canadian company. “BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry,” the company said in statement, outlining that it does not intent to further comment […] Read more

Richemont share price down, revenue falls on weaker Asia demand

Compagnie Financiere Richemont SA announced on Thursday weaker sales growth as demand for its luxury watches dropped in Asia amid protests in Hong Kong. The owner of Cartier, IWC and Piaget brands announced a revenue of €3.05 billion during the three months ended December 31, up 3.7% compared to an year earlier. However, excluding currency […] Read more

General Motors share price down, sees better profit margins in 2015

General Motors Co announced on Wednesday it is expecting higher profit margins and underlying earnings in 2015 versus 2014, boosted by improved sales in all regions. GM will also increase its capital expenditure by 20% to $9 billion in 2015, the biggest amount the company has spent since its government-managed bankruptcy in 2009. The move […] Read more

JPMorgan share price down, fourth-quarter performance hit by legal costs

JPMorgan Chase & Co announced on Wednesday a decline in earnings due to a drop in revenue from fixed-income trading and higher than expected legal costs. Net income decreased to $4.9 billion during the fourth quarter from $5.3 billion a year earlier. Earnings per share stood at $1.19 versus $1.30 a year ago. Analysts have […] Read more

Apple share price up, sues Ericsson over wireless technology patents

Apple Inc and Swedens Ericsson are suing each other over royalties for patents covering wireless technology used in every iPhone and iPad. According to a filing to the District Court for Northern California, Ericsson is seeking excessive royalties for its “Long Term Evolution”-related patents. Apple claims that the Swedish company is demanding fees based on […] Read more

IBM share price down, launches the most powerful mainframe ever built

International Business Machines Corp announced on Tuesday the release of its new z13 system aimed at providing superior performance as the company tries to revive its struggling business. The z13 system is a product of five years of development and a $1 billion investment, IBM said. The companys new mainframe utilizes the innovations covered by […] Read more

Samsung share price up, launches a Tizen-powered $92 smartphone in India

Samsung Electronics Co Ltd released its first smartphone featuring its self-developed Tizen operating system in India, marking a push to reduce its reliance on Googles Android. The Samsung Z1, featuring 1.2GHz dual-core processor, 768 MB of RAM and up to 64GB of memory, was released in New Delhi on Wednesday and it sells for 5 […] Read more