Goldman Sachs usually outshines rivals when it comes to trading revenue, but not this quarter. The Wall Street behemot fell short of expectations due to a drop in trading revenue, prompting analysts to demand explanations.
Bank of America did better, and so did Volkswagen, helped by new car models and cost cuts.
IBM’s revenue for the first quarter of the year missed for the first time in five years due to weak demand in its technology services business.
Yahoo reported a higher-than-expected revenue with a 35.6 increase in Mavens, the mobile, video, native and social advertising units that the company has touted as key emerging businesses.
In non-earnings news
A gasoline shortage in Cuba is good news for one Miami electric car dealer.
Verizon is going to buy optical fiber from Corning for at least $1.05 billion over the next three years as the No. 1 U.S. wireless carrier aims to improve its network infrastructure.