Industry News

Comcast tower directly east-- look very small. That includes the 33- story Evo apartments next door, which, with Cira Green, the parking garage with a one-acre park on..."/>
AKA University City assumes a lofty perch in Cira Centre South [The Philadelphia Inquirer]
First National Community Bancorp Inc., the parent company of FNCB Bank, nearly doubled as the bank earned $1.6 million, up from $800,000 in the year-ago quarter. The bank reported increases in net interest income and noninterest income, partially offset by higher provisions for loan and lease losses, income taxes and an increase in noninterest expense. Net interest income for the quarter increased $2.5 million, a jump of 20 percent, to..."/>
BRIEF: FNCB earnings nearly double [The Times-Tribune, Scranton, Pa.]
T Rowe Price Group Inc. has reduced the value of its stake in Flipkart Ltd by a fifth, its second cut in four months, reflecting continued investor concerns over the valuations of technology start-ups. The move came ahead of a statement by Flipkart on Friday that it was cutting 300 to 600 additional jobs, after already shrinking its workforce to 30,000 from 33,000 at the start of the year to reduce costs. US-based T. Rowe Price lowered the value..."/>
Flipkart valuation shrinks again; firm reveals job cuts [Mint, New Delhi]
ICICI Bank Ltd, on Friday, reported a 25% year-on-year drop in profits for the April to June quarter, owing to higher provisioning against bad loans. The private sector lender's net profit for the first quarter was at Rs.2232.35 crore, lower than the Rs.2, 976.16 crore reported a year ago. According to a poll of 20 Bloomberg analysts the bank was expected to post a net profit of Rs.2207.70 crore a year ago."/>
ICICI Bank Q1 profit falls 25% to Rs2,232.35 crore [Mint, New Delhi]
Ujjivan Financial Services Ltd on Friday said that its fiscal first quarter net profit more than doubled from a year ago because of strong loan portfolio growth and a decrease in operating expenses. The loan book rose 67% to Rs.5, 851 crore in the June quarter, whereas operating expense ratio decreased to 7.22% as on 30 June, from 7.98% last year. Net profit rose to Rs.71.37 crore in the April-June period from Rs.35.24 crore a year ago."/>
Ujjivan Financial Services net profit more than doubles in June quarter [Mint, New Delhi]
L&T's Q1 profit rises 46% to Rs610 crore [Mint, New Delhi]
T. Rowe Price Group Inc. has reduced the value of its stake in Flipkart Ltd by a fifth, its second cut in four months, reflecting continued investor concerns over the valuations of technology start-ups. The move came ahead of a statement by Flipkart on Friday that it was cutting 300 to 600 additional jobs, after already shrinking its workforce to 30,000 from 33,000 at the start of the year to reduce costs. US-based T. Rowe Price lowered the value..."/>
Flipkart valuation shrinks again; firm reveals job cuts [Mint, New Delhi]
ICICI Bank Ltd, India's biggest private-sector bank, on Friday reported a 25% year-on-year drop in profits in the April-June quarter, owing to higher provisioning against bad loans. The bank's net profit for the fiscal first quarter dropped to Rs.2, 232.35 crore, from Rs.2, 976.16 crore reported a year ago. A Bloomberg poll of 20 analysts expected the bank to post a net profit of Rs.2, 207.70 crore."/>
ICICI Bank Q1 profit falls 25% to Rs2,232.35 crore [Mint, New Delhi]
Ashok Leyland Ltd, resigned from the board of directors with effect from 28 July, the company said in a BSE filing on Friday. Seshasayee is also the non-executive chairman of Infosys Ltd and chairman of Indusind Bank Ltd.. Last year, the board of Infosys named Seshasayee, who was an independent director at the Bengaluru-based software services firm, as non-executive chairman, replacing K.V."/>
BRIEF: R. Seshasayee resigns from Ashok Leyland board [Mint, New Delhi]
KeyCorp, the Cleveland-based corporate parent of KeyBank, on Friday completed its acquisition of the holding company that operates First Niagara Bank. The deal closed the same day as Buffalo-based First Niagara Financial Group released its final earnings report as an independent company. KeyBank's acquisition of First Niagara was first announced in October 2015.."/>
KeyCorp completes First Niagara acquisition [New Haven Register, Conn.]
Cigna will continue to work with its would-be buyer Anthem as the companies seek to convince a federal judge and regulators that their merged insurance giant would not be detrimental to consumers. The CEO of Bloomfield-based Cigna, David Cordani, told analysts during an earnings call Friday that it is "clearly our intent and commitment" to continue contributing significant time and resources to work on finalizing the $54 billion acquisition by Indianapolis-based..."/>
Cigna Committed To Fighting Antitrust Lawsuit, But Keeps Options Open [The Hartford Courant]
Territorial Bancorp Inc.' s net income increased 5.2 percent in the second quarter as loans surged double digits amid record median prices in Honolulu's real estate market. The parent of the state's fifth-largest bank reported Friday that earnings rose to $4 million, or 43 cents a share, to beat analysts' consensus estimate by 2 cents. In the year-earlier quarter, Territorial had earnings of $3.8 million, or 41 cents a share."/>
BRIEF: Loans propel Territorial's earnings up 5.2% [The Honolulu Star-Advertiser]
Assurant Inc. reported net operating income of about $89 million for its second quarter this year, about a 32 percent drop compared to the same time last year. Despite smaller earnings, the company said it's in the process of realigning its business and is hitting its goals. The company had previously announced plans to exit the health insurance and employee benefits business."/>
Major Springfield employer sees dip in earnings [Springfield News-Sun, Ohio]
Exact Sciences Corp. is making more stock available to the public to raise money for marketing Cologuard, the Madison company's test for colorectal cancer. Exact Sciences said it will sell 8.5 million shares of stock at $15.50 a share, in a secondary offering through underwriters Jefferies and Robert W. Baird& Co., with Canaccord Genuity as co-manager. If there is additional demand, another 1,275,000 shares will be made available, the company said."/>
BRIEF: Exact Sciences to sell more stock [The Wisconsin State Journal]
First Business Financial Services reported net income of $3.7 million, or 43 cents a share, for the quarter that ended June 30 compared with net income of $3.9 million, or 45 cents a share, for the 2015 second quarter. The Madison bank company said it set aside $2.8 million for loan losses for the quarter, up from $520,000 for the same period last..."/>
BRIEF: Earnings dip slightly for First Business Bank [The Wisconsin State Journal]
Bay Bancorp reported a profit of $450,000 in the second quarter of 2016, down 18 percent from a $550,000 profit in the April-to-June quarter last year. The Columbia-based parent company of Bay Bank attributed the dip to a decline in year-over-year earnings on loans and merger costs associated with its July acquisition of Hopkins Bancorp, the parent company of Hopkins Federal Savings Bank. Bay Bank leadership expects to improve efficiency and strengthen earnings in..."/>
BRIEF: Bay Bancorp reports $450,000 profit in second quarter [The Baltimore Sun]
Old Point Financial Corporation reported net income of $1.6 million, or $0.32 per diluted share, for the six months ended June 30, 2016, compared to net income of $2.5 million, or $0.50 per diluted share, for the six months ended June 30, 2015. Higher net interest and noninterest income during this period were offset by higher noninterest expense and a higher provision for loan losses. Interest and dividend income decreased $254 thousand for the..."/>
Old Point Releases Second Quarter 2016 Results

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Most Popular Sectors in the News
Sectors Articles in the last 7 days
Financials958 Articles
Information Technology903 Articles
Consumer Discretionary760 Articles
Industrials600 Articles
Health Care598 Articles

Sponsored Financial Commentaries

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact , please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.