12:40 PM New York City, New York – Bank of the Ozarks reported strong quarterly earnings results. Commerce Bancshares net soared. Delta Air lowered fiscal 2018 earnings forecast on higher fuel cost. T. Rowe said assets under management increased to $1.04 trillion.
Tollbooth Index jumped 123.12 or 0.8% to 15,501.61 but for the year-to-date soared 12.7%.
Bank of the Ozarks
) declined 7.5% or $3.44 to $42.59 after the retail and commercial banking services provider reported net interest income in the second-quarter ending in June advanced 11.2% from a year ago to $224.7 million.
Net income in the quarter jumped 26.9% to $114.8 million or 89 cents per diluted share from $90.5 million or 73 cents in the same quarter last year.
The lender said as of June 30, total loans soared 10.4% to $16.8 billion and total deposits surged 10.2% to $17.9 billion.
Commerce Bancshares Inc
) rose 40 cents to $66.79 after the banking and financial services provider said total revenues in the second-quarter ending in June jumped 7.4% from a year ago to $335.8 million.
Net income in the quarter soared 9.5% to $108.1 million or $1.01 per diluted share from $98.7 million or 92 cents in the same quarter last year.
Delta Air Lines Inc
) gained 1.1% or 57 cents to $50.41 after the airline services provider reported revenues in the second-quarter ending in June soared 9.6% from a year ago to $11.8 billion.
Net income in the quarter declined 13.4% to $1 billion or $1.47 per diluted share from $1.2 million or $1.62 in the same quarter last year.
Delta Air lowered fiscal 2018 earnings per share forecast to between $5.35 and $5.70 from the January estimate of $6.35 to $6.70.
""With an expected $2 billion higher fuel bill for 2018, we are now forecasting our full-year earnings to be $5.35 to $5.70 per share,"" said chief executive officer Ed Bastian.
T. Rowe Price Group, Inc
) gained 83 cents to $119.20 after the asset manager said as of June 30, preliminary assets under management increased to $1.044 trillion from $1.038 trillion in May and total client transfers in June were about $13.6 billion.
Valmont Industries, Inc
) plunged 9.1% or $13.75 to $138.10 after the diversified fabricated metal products producer lowered fiscal 2018 revenues growth forecast of 4% from the earlier estimate of 7% and diluted earnings per share in the range of $6.51 to $6.61 from the earlier estimate of $7.70 to $7.80.