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After the U.S. Fed announcement, the KBW Bank Index closed higher. TheStreet.com on the winners and losers.
Britain's FTSE 100 lost 0.1 percent to 5,910.04 in early trading. Microsoft said net income fell a worse-than-expected 22 percent to $4.47 billion in the fiscal first quarter, which ended Sept. 30. BB&T bank, Philip Morris International and Boston Scientific also reported results that fell short of forecasts.
Markets in mainland China, Singapore, Thailand, Indonesia and India were down. Microsoft said net income fell a worse-than-expected 22 percent to $4.47 billion in the fiscal first quarter, which ended Sept. 30. Microsoft shares fell in after-hours trading.
European Union leaders opened a two-day meeting in Brussels on Thursday and took a critical step by agreeing to create a banking supervisor to oversee institutions in the 17 countries using the euro. South Korea's Kospi lost 0.9 percent to 1,942.47 and Australia's S&P/ASX 200 fell 0.1 percent to 4,554.50.
BB&T profits were up but missed its expectations. Shares of the company dropped after the miss. Kelly King, chairman & CEO of BB&T Corporation, discusses the procedure for his company's earnings release, and its Q3 results.
NOT FEELING LUCKY: Google inadvertently released a disappointing earnings report early, and its stock plunged. Google ended the day down more than $60 per share, or 8 percent. EARNINGS WATCH: BB&T, Philip Morris International and Boston Scientific all fell after reporting disappointing earnings.
NEW YORK-- Google plummeted almost $80 per share, more than 10 percent, and trading in the stock was halted two and a half hours Thursday after a disappointing earnings report was published ahead of schedule and surprised investors. Google was trading at $754 per share at 12:30 p.m. EDT, then fell almost $20 in a minute after investors saw the report, a draft.
Google plunged 9 percent after it accidentally released a weak earnings report hours ahead of schedule. "This is a market that's waiting for a clear catalyst," said Quincy Krosby, market strategist at Prudential Financial. Google's stock dropped $68.19 to $687.30 before trading was suspended.
NEW YORK-- The stock market headed slightly lower on Thursday, following a leap in claims for unemployment benefits and weak results from American Express. The increase suggested that layoffs were increasing, however the Labor Department noted that there were technical reasons behind the swing, mainly delayed figures from one large state, California.
Though expectations have diminished in recent days that the 27- nation EU will agree on the terms of a banking union, investors are keen to hear updates on the economic fate of Spain, as well as Greece, which appears to be near to securing its next batch of bailout cash.
Stocks are opening mostly lower, breaking a four-day winning streak for the Dow Jones industrial average, following a leap in claims for unemployment benefits and a mixed batch of corporate earnings reports. The Labor Department reported that applications for unemployment benefits jumped last week to the highest level in four months.
WINSTON-SALEM, N.C.-- BB&T Corp. says it will create 1,700 new jobs over five years in a large back-office operation near Piedmont Triad International Airport. The bank said Tuesday that it has signed a seven-year sublease to take over a former American Express Co. call center in Greensboro.
*UBS raises BB&T Corp price target to $37 from $35; rating buy. Reuters Station users, click. 1568. Reuters Station users, click. 4899.
Once the dregs of the U.S. economy, beleaguered mortgage banks are becoming more attractive as the home sector claws back from a depression, an analyst said Monday.
For a second day, S&P 500 futures rose the minute Europe opened. Spanish bailout request: when, not if. Now that the Spanish budget has been submitted and a review of its banks capitalization needs is completed, everyone is anticipating Spain will make a formal bailout request.
BB&T Corp reported a better-than-expected quarterly profit as the bank set aside less money for loan losses and earned higher fee-based income, with Kelly King, BB&T chairman & CEO.
Companies fired "whale" losses, clawbacks and profit warnings at the market this week, building anticipation for next week, when earnings season swings into high gear.
As the market braces for some bank earnings this week, analyst Dick Bove said said investors looking at regional bank earnings will be cheering but when it comes to investment banks, they'll be cringing.
Large regional banks are filling a lending void created by the biggest institutions' regulatory burdens and the competitive disadvantage of smaller companies, analyst Dick Bove said.
Discussing the drama surrounding JPMorgan's trading loss and how to make money in the banking industry, with Matt O'Connor, Deutsche Bank analyst.