On Monday, Shares of Wells Fargo & Co (NYSE:WFC), lost -0.86% to $54.28.
Wells Fargo & Company (NYSE:WFC) reported net income of $5.8 billion, or $1.05 per diluted common share, for third quarter 2015, compared with $5.7 billion, or $1.02 per share, for third quarter 2014, and $5.7 billion, or $1.03 per share, for second quarter 2015.
Net Interest Income
Net interest income increased $187 million from second quarter 2015 to $11.5 billion, primarily driven by growth in investment securities and loans, including the full quarter benefit of the GE Capital loan purchase and related financing transaction that settled late in the second quarter. The third quarter also included one additional day, accounting for approximately one third of the increase in net interest income relative to the second quarter. These benefits were partially offset by reduced income from variable sources including purchased credit-impaired (PCI) loan recoveries, periodic dividends, and loan fees included in interest income.
Net interest margin was 2.96 percent, down 1 basis point from second quarter 2015. Balance sheet growth and repricing, driven by securities purchases and higher loan balances, improved the net interest margin by approximately 5 basis points linked-quarter. These benefits were offset by growth in customer deposits, which had a minimal impact to net interest income, but was dilutive to the net interest margin by 3 basis points, and by lower income from variable sources, which reduced the margin by 3 basis points.
Wells Fargo & Company is a financial services and bank holding company. The Company’s segments are Community Banking, Wholesale Banking, and Wealth and Brokerage and Retirement. The Company’s Community Banking segment offers a range of financial products and services for consumers and small businesses, counting checking and savings accounts, credit and debit cards, and auto, student and small business lending. The Community Banking segment’s products comprise investment, insurance and trust services, and mortgage and home equity loans.
Shares of Schlumberger Limited. (NYSE:SLB), declined -1.53% to $77.15, during its last trading session.
Schlumberger Limited., institutional ownership is held at 78.40% while inside ownership was 0.06%. The company has the market capitalization of $97.29B. Its EPS was $3.36 while outstanding shares of the company were 1.26B. The Company’s Net profit margin was 9.80% while gross profit margin was 22.30%. The company earned $4.35B in prior twelve months on revenue of $44.60B.
Schlumberger N.V. is a supplier of technology, integrated project administration and information solutions to the international oil and gas exploration and production industry.
Finally, Apollo Education Group Inc (NASDAQ:APOL), ended its last trade with -2.29% loss, and closed at $7.25.
Apollo Education Group, stated financial results for the three months and fiscal year ended August 31, 2015, with fourth quarter revenue of $600.3 million and a $0.09 diluted loss per share from ongoing operations, or $0.17 earnings per share not taking into account special items.
Fourth Quarter 2015 Results of Operations
Apollo Education Group stated net revenue for the fourth quarter 2015 of $600.3 million, contrast to $696.1 million for the fourth quarter 2014. Fourth quarter 2015 University of Phoenix New Degreed Enrollment was 26,500 and Degreed Enrollment was 190,700, contrast to New Degreed Enrollment of 38,600 and Degreed Enrollment of 233,500 for the prior year fourth quarter. Operating loss for the fourth quarter 2015 was $5.0 million, contrast to operating income of $43.5 million for the fourth quarter 2014. Loss from ongoing operations attributable to Apollo Education Group for the fourth quarter 2015 was $10.2 million, or $0.09 per share, contrast to income of $33.0 million, or $0.30 per share, for the prior year fourth quarter.
Fiscal Year 2015 Results of Operations
Net revenue for fiscal year 2015 totaled $2.6 billion, contrast to $3.0 billion in fiscal year 2014. In fiscal year 2015, University of Phoenix Average Degreed Enrollment was 214,500, contrast to 251,500 for fiscal year 2014. Operating income for fiscal year 2015 was $114.9 million, contrast to $355.0 million in the prior year. Income from ongoing operations attributable to Apollo Education Group for fiscal year 2015 was $52.9 million, or $0.49 per share, contrast to $225.9 million, or $2.01 per share, for fiscal year 2014.
Apollo Education Group, Inc. is a private education services provider. The Company through the education platforms, it offers undergraduate, graduate, professional development and other non-degree educational programs and services, online and on-campus, to working learners in the United States and abroad. The Company’s learning comprises domestic and International platforms.
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