On Tuesday, Fulton Financial Corp (NASDAQ:FULT)’s shares declined -0.82% to $13.33.
Fulton Financial Corporation ( FULT) Reports Second Quarter Earnings of $0.21 per Share.
- Diluted earnings per share was 21 cents, a 4.5 percent decrease from the first quarter of 2015 and unchanged from the second quarter of 2014.
- Net interest income reduced $661,000, or 0.5 percent, contrast to the first quarter of 2015 and reduced $5.0 million, or 3.9%, contrast to the second quarter of 2014. The net interest margin reduced 7 basis points contrast to the first quarter of 2015, to 3.20 percent. The net interest margin for the second quarter of 2014 was 3.41 percent.
- Average loans raised $97.1 million, or 0.7 percent, contrast to the first quarter of 2015 and $396.9 million, or 3.1 percent, contrast to the second quarter of 2014. Average deposits raised $107.1 million, or 0.8 percent, contrast to the first quarter of 2015 and $878.6 million, or 7.0 percent, contrast to the second quarter of 2014.
- The provision for credit losses was $2.2 million, contrast to a $3.7 million negative provision in the first quarter of 2015 and a $3.5 million provision in the second quarter of 2014.
- Non-interest income, not taking into account investment securities gains, raised $3.5 million, or 8.6 percent, in comparison to the first quarter of 2015, and raised $314,000, or 0.7 percent, in comparison to the second quarter of 2014.
Fulton Financial Corporation operates as a multi-bank financial holding company that provides a range of banking and financial services to businesses and consumers. It offers personal banking services that comprise various checking account and savings deposit products, certificates of deposit, and individual retirement accounts.
Tripadvisor Inc (NASDAQ:TRIP)’s shares gained 0.61% to $92.55.
TripAdvisor, Inc. (TRIP), the world’s largest travel site*, declared that it will release its second quarter 2015 financial results after market close on Thursday, July 23, 2015. On that day, the company will hold a conference call and live webcast at 4:30 p.m. ET to review and discuss the company’s business highlights and results for the second quarter ended June 30, 2015. In addition, the company may discuss business and financial developments and trends and other matters affecting the company, some of which may not have been previously disclosed. A recorded version of the webcast will be available shortly after the live call and will be accessible at http://ir.tripadvisor.com/events.cfm for at least twelve months following the conference call.
TripAdvisor, Inc. operates as an online travel company. The company operates through two segments, Hotel and Other. Its travel research platform aggregates reviews and opinions about accommodations, destinations, activities and attractions, and restaurants that enable consumers to plan and book hotels, vacation rentals, flights, activities and attractions, and restaurants.
At the end of Tuesday’s trade, First Horizon National Corp (NYSE:FHN)‘s shares surged 0.19% to $15.98.
Earnings per share grew 22 percent from last quarter at First Horizon National Corp. (FHN) — to $0.22 in the second quarter from first quarter’s adjusted EPS of $0.181 — driven by growth in loans, deposits and revenue at its First Tennessee regional bank.
Financial highlights
- Net income accessible to common shareholders for the second quarter was $51 million, or $0.22 per diluted share. A litigation charge related to the mortgage business the company sold in 2008 resulted in a $162.5 million pre-tax charge in the first quarter, which led to a net loss accessible to common shareholders of $76.7 million, or $0.33 per diluted share. Not taking into account the litigation charge, net income accessible to common shareholders in the first quarter would have been $41.8 million1, or $0.181per diluted share.
- First Tennessee, the regional bank, had a strong quarter, with pre-provision net revenue (PPNR) up 7 percent year over year. Year over year, average core deposits were up 13 percent and loans were up 16 percent, led by commercial loans, loans to mortgage companies and asset-based lending. Noninterest income grew 10 percent from first to second quarter, driven by fees from deposits, brokerage and trusts.
- FTN Financial, the fixed income group, raised fixed income product average daily revenue 14 percent year over year.
First Horizon National Corporation operates as the bank holding company for First Tennessee Bank National Association that provides various financial services in the United States and internationally. The company offers general banking services for consumers, businesses, financial institutions, and governments.
Qorvo Inc (NASDAQ:QRVO), ended its Tuesday’s trading session with 0.98% gain, and closed at $77.45.
Qorvo Inc (QRVO) is planned to declare its fourth quarter financial results on Monday after the market closes. According to Estimize, expectations point towards a moderate quarter-over-quarter decline in earnings.
For the current quarter, the Street is modeling consensus earnings of $0.86 per share on revenue of $621.27 million. The crowd is more bullish and is projecting consensus earnings of $0.93 per share on revenue of $629.8 million.
While current estimates imply a marked enhance from the earnings of $0.12 per share and revenue of $256 million that RF Micro Devices posted a year ago, they also bring a double-digit decline from last quarter’s earnings of $1.18 per share on revenue of $741 million.
Qorvo, Inc. provides technologies and radio frequency (RF) solutions for mobile, infrastructure, defense, and aerospace applications in the United States and internationally. The company operates through Mobile Products, and Infrastructure and Defense Products segments.
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