NEW YORK (Reuters) – Stocks opened lower on Thursday after quarterly results from Goldman Sachs Group and Citigroup Inc underwhelmed investors after a strong showing from JPMorgan a day before.
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Goldman profit quadruples on trading gains
NEW YORK (Reuters) – Goldman Sachs Group Inc quarterly earnings nearly quadrupled, topping expectations, but its shares fell on disappointment that so much of the profit came from trading gains that might not be sustainable.
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Credit losses hit Citigroup earnings
NEW YORK (Reuters) – Citigroup Inc posted a quarterly per-share loss as it suffered $8 billion of credit losses, raising questions about when the bank can return to sustained profitability.
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Consumer prices edge up
WASHINGTON (Reuters) – U.S. consumer prices rose marginally in September and the number of workers filing new claims for jobless insurance hit a nine-month low last week, more proof the economy was healing after a protracted recession.
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Google sparks e-books fight with Kindle
FRANKFURT (Reuters) – Google plans to launch an online store to deliver electronic books to any device with a Web browser, threatening to upset a burgeoning market for dedicated e-readers dominated by Amazon’s Kindle.
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Foreclosures fall for second straight month
NEW YORK (Reuters) – U.S. mortgage foreclosure filings fell for a second straight month in September, but remained near a record high, amid ongoing and sweeping efforts to keep borrowers in their homes, a report released on Thursday showed.
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Lazard shares drop after news of CEO’s death
NEW YORK (Reuters) – Shares of Lazard Ltd dropped more than 4 percent to $41 at the start of New York Stock Exchange trade on Thursday following news that its chief executive, Bruce Wasserstein, the legendary Wall Street deal maker, had died at the age of 61.
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Nokia swings to surprise loss
HELSINKI (Reuters) – The world’s top cellphone maker Nokia shocked investors by taking a major writedown at its struggling networks unit and revealing a fall in its smartphone sales from the previous quarter.
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Oil trims gains to around $75 after one-year high
LONDON (Reuters) – Oil fell back from a year high on Thursday but stayed above $75 a barrel, reversing its sixth straight positive session after European shares pared gains and the euro fell on disappointing Q3 earnings reports, traders said.
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Southwest posts net loss on buyouts, hedging
NEW YORK (Reuters) – Southwest Airlines posted a third-quarter net loss on Thursday on charges for its employee buyout program and fuel hedging portfolio, and said it expected cost pressures to persist in the fourth quarter.
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