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Akzo Nobel earnings fall 13% on headwinds, FX hit

“Paint and specialty chemicals company Akzo Nobel N.V. AKZA on Wednesday reported a 13% drop in third-quarter adjusted earnings before interest and tax, citing industry headwinds and unfavorable foreign-exchange conditions” writes Oliver Griffin for marketwatch.com. The company also reported that net profit dropped to EUR216 million from EUR285 million in the year-earlier period.The Dutch company, which owns brands including Dulux, Sikkens and Interpon, said that adjusted Ebit, the company’s operating income excluding certain items, for the quarter ended Sept. 30 was 383 million euros ($450.6 million) down from EUR442 million…

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IBM set to report earnings after the bell

“IBM will disclose earnings for the third quarter of the year after the closing bell on Tuesday” writes Jordan Novet for cnbc.com. In terms of guidance, analysts are expecting the company to end 2017 with $13.75 in earnings per share, according to Thomson Reuters.If that revenue estimate turns out to be correct, then IBM’s revenue would be down by 3.3 percent year over year, marking the company’s 22nd consecutive quarter of revenue declines. Source: cnbc.com Share This:

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Biogen’s stock gets a big boost from 2 upgrades a week before earnings

“The average rating of analysts surveyed by FactSet is currently the equivalent of buy, and the average price target is $343.19” writes Reporter Editor for marketwatch.com. Analysts surveyed by FactSet expect, on average, earnings per share of $5.71, up from $5.19 a year ago.The stock BIIB, +2.93%  surged 3.2% in afternoon trade, putting it on track for its highest close since July 2015.He lifted his stock price target to $415 from $300, which is 19% above current levels, and is the highest among the 31 analysts surveyed by FactSet. Source: marketwatch.com…

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Goldman Sachs just let slip how badly a key business is performing

“While Goldman Sachs had previously said that the second quarter was the worst in commodities in the firm’s history as a public company, Chavez wouldn’t be drawn on the scale of the underperformance, or the extent to which it was dragging down every other business in FICC. Get the latest Goldman Sachs stock price here” writes Matt Turner for businessinsider.com. The US bank on Tuesday reported third-quarter earnings, posting a quarter-on-quarter increase in FICC revenues. Source: businessinsider.com Share This:

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Goldman Sachs results poor, but better than forecasts

“The bank started the year off with flat bond trading, while the rest of Wall Street showed wide gains” reports nypost.com. Goldman, which has struggled to boost earnings this year, overall posted $8.33 billion in profit, a 2-percent increase from last year.Indeed, this is the first quarter this year that Goldman hasn’t completely botched its earnings compared to analysts’ expectations. Source: nypost.com Share This:

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UnitedHealth sees a boost from its pharmacy benefit management business, raises its forecast

“(Reuters) – UnitedHealth Group Inc, the largest U.S. health insurer, reported a stronger-than-expected quarterly profit and raised its full-year earnings forecast, helped by strength in its pharmacy benefit management business” writes Divya Grover for businessinsider.com. The health insurer in August named David Wichmann its new chief executive.UnitedHealth’s total revenue rose 8.7 percent to $50.32 billion, but narrowly missed analysts’ estimate of $50.35 billion.The company raised its full-year adjusted earnings forecast to about $10.00 per share, from $9.75-$9.90. Source: businessinsider.com Share This:

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Goldman Sachs stock jumps as earnings crush estimates

“Goldman said it had third-quarter net revenue of $8.3 billion, or per-share earnings of $5.02, up from $8.2 billion and $4.88, in the year-ago quarter” writes Andrea Riquier for marketwatch.com. GS, +1.63% jumped more than 1 percent in pre-market trading after the bank reported third-quarter results that handily beat market expectations.But revenues from trading of fixed income, currencies and commodities sank 26% for the year.Investment banking revenue was 17% higher than in the third quarter of 2016, the bank said. Source: marketwatch.com Share This:

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Morgan Stanley’s earnings top estimates

“Morgan Stanley instead leans on its wealth management division, which oversees $2.2 trillion for some 3.5 million American households, to steady its earnings” writes Liz Hoffman for marketwatch.com. The Wall Street firm reported earnings of 93 cents a share versus analyst expectations of 81 cents a share.Morgan Stanley said its third-quarter profit rose to $1.78 billion as the firm’s giant wealth-management business continues to churn out reliable profits.Rivals including J.P. Morgan Chase & Co. and Citigroup Inc. last week reported profit increases powered by commercial lending and credit cards.Revenue of…

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US shale to help power Shell’s multi-billion dollar chemicals drive

“Royal Dutch Shell will begin construction of a new $10bn petrochemicals site in the gas-rich Marcellus shale basin in the US within the next ten weeks as part of a radical growth plan for its petrochemicals business” writes Matthew Lynn for telegraph.co.uk. The oil major told investors that global demand for petrochemicals – which are used to manufacture the raw materials used to make plastics, paints and textiles – is set to grow by around 50pc by the end of the decade, making it a key area for the company’s…

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