On Tuesday, Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB), lost -2.56% to $8.39, hitting its lowest level.
Itaú Unibanco Holding Latin America’s largest bank by market value, said delinquencies rose for the first time in 11 quarters and bad-loan provisions climbed, according to Bloomberg.
“Itau delivered strong results, but with clear signs of credit deterioration,” Fator Corretora analysts counting Samuel Torres wrote in a report to clients Tuesday. “Given the signs of possible further deterioration, we remain cautious regarding Brazilian banks.”
Debt overdue more than 90 days rose for the first time since the third quarter of 2012, the Sao Paulo-based bank said in a regulatory filing Tuesday. The rate reached 3.3 percent in the second quarter, up from 3 percent in the three previous months, led by corporate clients. Provisions climbed 24 percent to 5.54 billion reais ($1.59 billion) on an annual basis. Bloomberg Reports
Itaú Unibanco Holding S.A. provides various financial products and services to individuals and corporate clients in Brazil and internationally. The company operates through Commercial Bank Retail, Consumer Credit Retail, and Wholesale Bank segments. The company accepts demand deposits, savings deposits, and time deposits; and offers credit cards, personal loans, payroll loans, vehicle loans, and residential mortgage loans.
Shares of Nabors Industries Ltd. (NYSE:NBR), declined -0.43% to $11.48, during its last trading session.
Nabors Industries stated second-quarter revenue and earnings from unmerged associates of $862 million, contrast to $1.42 billion in the first quarter of 2015, and $1.62 billion in the second quarter of last year. The comparable quarters comprised of $367 million and $535 million respectively, in revenue from Completion and Production Services, a business line that merged with C&J Energy Services on March 24, 2015. Starting in the second quarter, Nabors’ results reflect equity-method accounting for this investment on a quarter-lag basis.
Net income from ongoing operations stated for the second quarter was a loss of $41.9 million or $0.14 per diluted share, which comprises $0.23 of tax expense. This compares to first-quarter net income from ongoing operations of $124.4 million or $0.43 per diluted share; or $58.3 million, or $0.20 per share, after not taking into account $66.1 million attributable to the after-tax net gain from the C&J Energy Services transaction, tax benefits and after-tax severance charges from workforce reductions. The first-quarter comparable results also comprise income from the Completion and Production Services business.
Nabors Industries Ltd., together with its auxiliaries, provides drilling and rig services. The company offers rig instrumentation, optimization software, and directional drilling services.
Finally, Pandora Media, Inc. (NYSE:P), ended its last trade with 3.37% gain, and closed at $17.78.
Pandora Media declared that the company’s Vice President, Dominic Paschel, and Senior Vice President, Lars Murray, will present at the Pacific Crest Global Technology Leadership Forum, and the Oppenheimer 18th Annual Technology, Internet & Communications Conference, respectively.
Mr. Paschel will engage in a fireside chat at the Pacific Crest Global Technology Leadership Forum on Monday, August 10, 2015 at 11:30 a.m. MT / 1:30 p.m. ET in Vail, CO.
Pandora Media, Inc. provides Internet radio services in the United States. The company allows listeners to create up to 100 personalized stations to access free music and comedy catalogs, in addition to offers Pandora One, a paid subscription service to listeners.
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