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CSX’s Quarterly Profit Tops Wall Street Target

Jacksonville, Florida’s CSX Corp. (NASDAQ: CSX - $72.20) said third quarter net earnings were $894 million, or $1.05 per share versus the $459 million or $0.51 per share in the same period last year, a 106% increase and ten cents ahead of analysts’ views. The rail and intermodal carrier’s revenue increased 14% over the prior year to $3.13 billion, supported by broad-based volume… Continue reading CSX’s Quarterly Profit Tops Wall Street Target

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Harris Reports Strong 1st Quarter Results; Plans Merger with L3 Technologies

Melbourne, Florida’s Harris Corp. (NYSE: HRS - $154.87) reported fiscal 2019 first quarter revenue of $1.5 billion, up 9% compared with the prior year with accelerated revenue growth across all business segments: Communications (revenue up 16%), Electronic Systems (up 9%) and Space & Intelligence Systems (up 5%). Net income increased 34% to $213 million and earnings per… Continue reading Harris Reports Strong 1st Quarter Results; Plans Merger with L3 Technologies

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Chase Posts Better-than-Expected Results; Outlook Cautious

JPMorgan Chase & Co. (NYSE: JPM - $107.31) said it earned $2.34 a share in the third quarter, compared with $1.76 in the year-earlier period and Street estimates of $2.20. Net interest income rose 7%, driven by higher interest rates and healthy loan and deposit growth. Non-interest revenues increased only 3%, with markdowns on certain… Continue reading Chase Posts Better-than-Expected Results; Outlook Cautious

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Delta Air Beats Estimates; Raises Guidance

Atlanta’s Delta Air Lines (NYSE: DAL - $51.89) reported third quarter adjusted net profit of $1.3 billion for the third quarter, up 13% from a year earlier despite higher fuel costs and a $30 million hit from Hurricane Florence. Per share net was $1.80, up from $1.54 per share in the prior-year period and higher than the $1.74 Street estimate. Citing increased… Continue reading Delta Air Beats Estimates; Raises Guidance

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International Paper Ups Stock Repurchases; Increases Dividend

International Paper Co. (NYSE: IP - $44.64) said its Board of Directors has authorized a share repurchase program to acquire up to $2.0 billion of the company's common stock. The new authorization is in addition to $430 million remaining as of the end of the third quarter from a previous repurchase program. During the third quarter the company repurchased… Continue reading International Paper Ups Stock Repurchases; Increases Dividend

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Jabil Delivers Strong Results

Contract manufacturing services company Jabil, Inc. (NYSE: JBL - $27.37) reported fiscal fourth-quarter profit and sales that beat expectations. Excluding special items, for the quarter ended August, earnings per share came to $0.70 compared to $0.64 last year and above the consensus estimate of $0.68. Revenue rose to $5.77 billion from $5.02 billion, beating Street expectations of $5.41 billion. For the… Continue reading Jabil Delivers Strong Results

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Chase Hikes Payout

New York money center bank JPMorgan Chase & Co. (NYSE: JPM - $114.30) said the Board of Directors raised the quarterly dividend 43% to $0.80 per share, from $0.56 paid in the previous quarter. The Federal Reserve recently approved JPM’s capital plans, which included the increased payout to shareholders. The new annualized rate of Chase’s dividend is now $3.20… Continue reading Chase Hikes Payout