General Electric — Chinese appliance maker Haier is buying GE’s appliance unit for $5.4 billion to boost its global presence. Haier had revenue of $32.6 billion in 2014, making it the world’s biggest appliance maker. The deal also includes a strategic partnership between the two firms in areas such as the Internet, health care and advanced manufacturing.
Intel — the chipmaker reported earnings that beat on both the top and bottom line, but its data center group posted revenue that missed expectations. The firm maintained full-year 2016 guidance of mid-single digit revenue growth, while capital expenditure guidance was lowered by 500 million to $9.5 billion.
Yahoo — Canyon Capital Advisers sent its third letter to the firm in two months, telling Yahoo not to waste more capital and to prioritize a sale of its core business, a portion of its assets, or the entire company,Reuters reported.
Goldman Sachs — the financial giant said Thursday its fourth-quarter earnings will roughly suffer a $1.5 billion reduction due to a nearly $5.1 billion settlement agreement in principle to resolve the ongoing investigation of the firm’s dealings in mortgage-backed securities leading up to the years of the financial crisis.
Citigroup — the firm reported fourth-quarter earnings of $1.06 a share, ex-items, on revenue of $18.64 billion, both topping expectations. The firm said in a release that in constant dollars, 5 percent growth in Citicorp loans was more than offset by continued declines in Citi Holdings, driven primarily by continued reductions in the North America mortgage portfolio and the sale of OneMain Financial, completed during the fourth quarter 2015.
Wells Fargo — the biggest U.S. residential mortgage lender and a major lender to the energy industry posted a 0.8 percent decline in profit for the last quarter of the year as it set aside more funds to cover bad loans. The firm reported fourth-quarter earnings that beat on revenue but missed slightly, with net revenue of $5.71 billion, flat from the previous year, while sales rose 1 percent.
BlackRock — the world’s largest asset manager reported earnings of $4.75 a share, five cents below expectations, on revenue of $2.86 billion that topped forecasts. BlackRock Chief Executive Officer Larry Fink told CNBC the miss on earnings was due to expenses and compensations related to deals.
Analog Devices — the electronic parts company and Apple supplier lowered its revenue guidance for its fiscal first quarter 2016 due to “weaker-than-forecasted customer demand in the company’s portable consumer business unit.” The updated forecasted revenue range is between $745 million to $765 million compared to the company’s previous forecast of $805 million to $855 million.
[“source -cncb”]
