Citigroup profit topped analyst estimates, but like the other big banks that have reported so far, the company saw its revenue fall in its most recent quarter because of stock market volatility. A big reduction in legal bills helped its bottom line and overshadowed a revenue miss. Share rose more than four percent to $52.97.
United Health Group
Dow component United Health Group posted earnings that just beat estimates. Revenue rose, helped by a recent acquisition. The company says it expects future results to come in at the conservative end of estimates. Shares fell 1.5 percent to $120.17.
A recent merger weighed on BB&T’s latest quarter. Earnings fell, but the bank said a key read on lending profitability improved. That sent shares up three percent to $36.86.
A disappointing quarter for Winnebago. The company reporting lower than expected profit as customers bought cheaper versions of its motorhomes. Shares fell four percent to $19.28.
First Data made its market debut today. The payments processing company priced below expectations at $16 a share in the largest initial public offering of the year. Shares ended 1.5 percent lower at $15.76.
Garmin cut its earnings forecast for its third quarter and the full-year. The GPS maker blamed the current global economic environment among other things. Shares slid more than 12.5 percent to $32.28.
According to the Wall Street Journal, McDonald’s may decide to change the structure of its U.S. real estate. This as some investors have called for the chain to spin of its real estate holdings into a real estate investment trust. Shares rose a fraction to $103.66.
Yum updated its full-year guidance after the close. The fast food chain that owns brands like Pizza Hut said its sales in china could be lower because of the ongoing volatility there. Still, shares popped in initial after hours trading. During the regular session the stock was one percent higher to $69.28.