Earnings reports

FILE- This May 1, 2018, file photo shows Merck corporate headquarters in Kenilworth, N.J. Surging sales of cancer medicines and reduced spending helped Merck overcome a big hit from the coronavirus pandemic and increase its profit 12% in the second quarter. The drugmaker on Friday, July 31, 2020, increased its financial forecast for the year, all while it’s investing in development of two experimental vaccines and a possible treatment for COVID-19. (AP Photo/Seth Wenig, File)
October 27, 2020 - 3:08 pm

Strong sales of drugs, vaccines, propel Merck in 3Q

Drugmaker Merck, bouncing back from a $1.6 billion hit from the coronavirus pandemic in the second quarter, boosted its third-quarter profit by 55% and blew past Wall Street expectations. The strong result was due to sales slightly higher than a year ago, plus restrained spending. The Kenilworth,...
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Pfizer signs are seen out front of the Pfizer Research & Development Laboratories Wednesday, July 22, 2020, in Groton, Conn. Pfizer on Tuesday, July 28, reported a 32% plunge in second-quarter profit, as the global coronavirus pandemic limited marketing of and new prescriptions for its medicines. Still, the biggest U.S. drugmaker posted a solid profit and nudged up parts of its 2020 financial forecast. (AP Photo/Stew Milne)
October 27, 2020 - 7:49 am

Pfizer tops 3Q earnings views, makes progress on COVID shot

Drugmaker Pfizer saw its third-quarter profit plunge 71%, mainly due to an $8.1 billion gain a year earlier from selling its consumer health care business to a GlaxoSmithKline joint venture, but managed to top Wall Street expectations. Meanwhile, the New York-based company on Tuesday said...
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A Caterpillar hydraulic excavator pulls a load of moss and other debris from the Main Outlet Drain, which is maintained by the Yuma County Water Users Association, near West Water Street in West Wetlands Park and 19th Avenue, Wednesday, Aug. 19, 2020, in Yuma, Ariz. (Randy Hoeft/The Yuma Sun via AP)
October 27, 2020 - 7:22 am

Demand for equipment falls, but Caterpillar has strong 3Q

DEERFIELD, Ill. (AP) — Caterpillar is reporting a third-quarter profit of $668 million and topped most expectations, though demand for its equipment is being driven down by the pandemic. The Deerfield, Illinois, company reported a profit Tuesday of $1.22 per share. Earnings, adjusted for non-...
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FILE - In this Monday, Sept. 21, 2020, file photo, a Wall Street street sign is framed by a giant American flag hanging on the New York Stock Exchange in New York. Stocks are falling in early trading on Wall Street Monday, Oct. 26, 2020, and deepening last week’s losses. (AP Photo/Mary Altaffer, File)
October 26, 2020 - 5:01 pm

Stocks have their worst day in a month as virus cases surge

U.S. stocks fell sharply Monday as a troubling increase in coronavirus counts put investors in a selling mood. The skid came as doubts mount on Wall Street that Washington will come through with more stimulus for the economy before Election Day. The S&P 500 slid 1.9%, its biggest single-day...
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FILE - In this Thursday, April 30, 2020 file photo, an employee attaches a Mercedes emblem as he works on a Mercedes-Benz S-class car at the Mercedes plant in Sindelfingen, Germany. Daimler, maker of Mercedes-Benz vehicles, is reporting third-quarter earnings on Friday Oct. 22, 2020. (AP Photo/Matthias Schrader, file)
October 23, 2020 - 5:42 am

Automaker Daimler rebounds after lockdowns, raises outlook

FRANKFURT, Germany (AP) — Daimler, the maker of Mercedes-Benz luxury cars and Freightliner trucks, saw third-quarter profit rebound as the company clamped down on costs and auto sales recovered after the coronavirus lockdowns of earlier in the year. The company raised its outlook for expected...
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A Southwest Airlines Boeing 737-7H4 takes off, Tuesday, Oct. 20, 2020, from Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Fla. Airlines are continuing to pile up billions of dollars in losses as the pandemic causes a massive drop in air travel. Southwest Airlines on Thursday, Oct. 22, lost $1.16 billion in the normally strong third quarter, which includes most of the summer vacation season.(AP Photo/Wilfredo Lee)
October 22, 2020 - 8:04 am

American, Southwest join parade of airline losses in 3Q

DALLAS (AP) — Airlines are piling up billions of dollars in losses as the pandemic causes a massive drop in air travel. American Airlines on Thursday reported a loss of $2.4 billion and Southwest Airlines lost $1.16 billion in the third quarter, typically a very strong period of air travel that...
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Retired British Airways Boeing 747-400 parked at Cotsworld Airport in Kemble, England, Sunday, Oct. 11, 2020. The retirement of the Jumbo Jet fleet was brought forward as a result of the impact the COVID-19 pandemic had on the airline and the aviation sector. (AP Photo/Frank Augstein)
October 22, 2020 - 5:43 am

British Airways parent company slashes passenger forecast

LONDON (AP) — The parent company of British Airways has cut its fourth-quarter passenger forecast to just 30% of last year’s level as government restrictions imposed to control a new wave of coronavirus infections reduces demand for flights. International Airlines Group made the announcement...
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A man looks at an electronic stock board of a securities firm in Tokyo, Wednesday, Oct. 21, 2020. Asian shares mostly rose Wednesday, cheered by the gains on Wall Street as investors welcomed a batch of solid earnings reports from U.S. companies.(AP Photo/Koji Sasahara)
October 20, 2020 - 11:18 pm

Asian shares rise after Wall Street gains on solid earnings

TOKYO (AP) — Asian shares mostly rose Wednesday, cheered by the gains on Wall Street as investors welcomed a batch of solid earnings reports from U.S. companies. Japan's benchmark Nikkei 225 gained 0.5% in morning trading to 23,676.90. South Korea's Kospi added 0.4% to 2,366.40, while Australia's S...
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FILE - In this July 10, 2019, photo a Wells Fargo building is shown in downtown Minneapolis. Wells Fargo reported earnings of $2 billion on Wednesday, Oct. 14, 2020, less than half it made in the same period last year but a significant recovery from last quarter, when it lost $2.4 billion. (AP Photo/Jim Mone, File)
October 14, 2020 - 9:34 am

Wells Fargo posts $2 billion profit in 3Q, reversing 2Q loss

SILVER SPRING, Md. (AP) — Wells Fargo says it earned $2 billion in the third quarter, less than half of what it made in the same period last year but a significant improvement from this year's second quarter, when it posted a loss as the coronavirus swept through the U.S. The San Francisco bank...
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FILE - This Sept. 13, 2014, file photo, shows the Chase bank logo in New York. JPMorgan Chase says profits improved marginally in the third quarter, a notable change after the nation’s largest bank had to set aside billions in the last two quarters to cover losses from the coronavirus pandemic. The New York-based bank said it earned a profit of $9.44 billion, or $2.92 a share, in the July to September period. (AP Photo/Frank Franklin II, File)
October 13, 2020 - 5:51 pm

JPMorgan, Citi profits improve amid signs of recovery

CHARLOTTE, N.C. (AP) — Two of the nation's biggest banks — JPMorgan Chase and Citigroup — said Tuesday that their profits improved markedly over the summer, as the U.S. economy tried to bounce back from the coronavirus shutdowns that were imposed earlier this year. Even so, both New York banks...
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