Wells Fargo reported net income rose 3% to a record $3.34 billion in the third quarter, thanks to its merger with Wachovia, the bank said. Also, improving credit conditions managed to offset a 7% fall in revenue.
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The airplane maker beat expectations thanks to strong commercial aircraft sales in the third quarter. Boeing also boosted its full-year outlook, sending its shares flying more than 2% higher.
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Stocks fell sharply Tuesday after a surprise rate hike from China’s central bank and mixed quarterly earnings reports led to heavy selling in technology, materials and energy stocks.
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Morgan Stanley is expected to report sharp declines in third-quarter earnings and revenue ahead of Wednesday’s opening bell, hurt by months of weak trading activity. The financial giant is forecast to post earnings of 15 cents …
Tylenol and Band-Aid maker Johnson & Johnson announced on Tuesday that its sales declined 0.7% to $15 billion in the third quarter, compared to the same quarter last year, as domestic sales were “significantly impacted” by rece…