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Financial services company $STI reported an increase in 2Q16 results driven by higher revenues, asset-related gains and tax benefits. Net income available to common shareholders was $475MM or $0.94 per share in 2Q16 compared to $467MM or $0.89 per share in 2Q15. EPS grew 6% from 2Q15. Total revenue grew 7% to $2.2Bil from last year.
The U.S. Treasury will be receiving $10 billion as dividends from the combined government-backed mortgage giants Fannie Mae and Freddie Mac. This is a sign that a recovered housing market is allowing the once-ailing firms to subsidize federal government spending.
$CSCO shift from hardware to becoming a software behemoth seems to be working for the company so far. Stock has seen a steady rise since the change. But is it sustainable?
Heard about the next generation iPhone. Going by the reports, it is believed that $AAPL will release three iphones this year.
Samsung chief Jay Y. Lee arrested under $36 million bribery charges. Stocks are also down. This is going to impact the sale of its Galaxy 8, set for April release. Here’s an opportunity for $AAPL to capitalize on a rival’s fall.