"We end up buying things that had been disappointing for others," says Oakmark's Bill Nygren.» Read More
Some major wireless companies are betting big on mobile payments and they are about to find out if their gamble will pay off.
NEW YORK-- Shares of Capital One Financial Corp. rose to a nearly five-year high Friday, as recent big acquisitions helped the bank grow net income 47 percent in the third quarter. THE SPARK: Capital One on Thursday said that it earned $1.17 billion, or $2.01 per share for the three months ended Sept. 30.
Disappointing results from three giants of the Dow _ Microsoft, General Electric and McDonald's _ were to blame. The Dow sank 221 points, or 1.6 percent, to 13,327. The S&P was down 26, or 1.8 percent, at 1,431. The Nasdaq composite index, hammered by a second ugly day for Google, lost 70 points to 3,002, a 2.3 percent decline.
THE BOTTOM LINE: Capital One Financial's third-quarter net income jumped 47 percent versus the prior-year quarter, as the addition of ING Direct and HSBC's U.S. card business helped drive revenue gains across the lender's businesses. THE NUMBERS: Net income rose to $1.17 billion, or $2.01 per share, for the quarter ended Sept. 30.
In its third-quarter earnings report, Capital One Financial said that its auto loans business posted sharp annual growth. The division ended the July-to-September period with $26.4 billion in loans, up from $20.4 billion in the same quarter last year.
LOS ANGELES-- Capital One Financial Corp.' s net income vaulted 47 percent in the third quarter, as the lender's acquisition of online bank ING Direct and HSBC's U.S. credit card business helped boost its loan revenue.
Check out which companies are making headlines after the bell Thursday.
After American Express reported ongoing deceleration in cardmember spending, one analyst is suggesting that investors look elsewhere in the sector for earnings momentum.
Citigroup Inc. reports quarterly financial results. CSX Corp. reports quarterly financial results. Intel Corp. reports quarterly financial results.
Oct 11- Capital One Financial Corp:. Reuters Station users, click. 1568. Reuters Station users, click. 4899.
Hackers attacked online services of Capital One, the bank said Tuesday. "We have no reason to believe that customer and account information is at risk," it said.
WASHINGTON, Oct 1- American Express will refund $85 million to customers to resolve charges that three subsidiaries broke consumer protection laws across the credit card business, U.S. regulators said on Monday.
In addition to the refund to about 250,000 customers, American Express will pay civil penalties totaling $27.5 million to the CFPB, Federal Deposit Insurance Corp, the Federal Reserve and the Office of the Comptroller of the Currency.
Analysts from KBW weigh in with their picks of winners and losers in the financial sector if the U.S. falls off the “fiscal cliff.” TheStreet.com reports.
The plot continues to thicken at Cracker Barrel Old Country Store. TheStreet.com reports.
One analyst is ignoring the investor anxiety ahead of the Fed meeting and taking a technical look at five new setups set to slingshot higher in this market. TheStreet.com reports.
Check out which companies are making headlines after the bell Tuesday:
When fast-growing World Acceptance reports earnings on July 26, keep an eye on anything the company says about the government's newly formed Consumer Financial Protection Bureau (CFPB).
Capital One has agreed to pay $150 million in refunds to 2.5 million customers, after the company was accused of misleading consumers to buy unnecessary "add on products." Steven Antonakes, Consumer Financial Protection Bureau, weighs in.
Stocks finished higher for a second session Wednesday, led by techs, after Bernanke reiterated that the central bank stands ready to inject more stimulus and despite the Fed's latest lackluster "Beige Book" report.