GE Sees 7% Rise in Pre-Tax Profits and 2 Dow Stocks in the Spotlight
Bank of America Corporation (NYSE:BAC): The chairman of the U.S. Commodity Futures Trading Commission has been sent a letter from financial officials in the United Kingdom, France and Japan, in opposition to proposed rules which would force overseas swaps dealers to register with the Commission in order to trade with any American institution or its overseas affiliates, says The Financial Times. Regulators in Hong Kong, Singapore, Australia and Japan had previously made clear their worries over being faced with two sets of overlapping and conflicting regulations in the United States and in their home countries.
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General Electric Company (NYSE:GE), which is the biggest domestic industrial group by market capitalization, posted a 7 per cent increase in pre-tax profits and earnings in line with consensus, but also reported a slower-than-anticipated growth in revenues. Additionally, the company saw a decline resulting from sharply falling demand for wind turbines. Pre-tax profits were $4.03 billion in the third quarter, on revenues up 3 per cent at $36.3 billion.
Home Depot (NYSE:HD) and Lowe’s Companies shares are luring investment during signs that the recovery in the housing market is getting traction. The Standard & Poor’s 500 Home Improvement Retail Index, which is comprised of these two firms, has risen around 13 percent since August 20th, in contrast to the S&P 500’s 2.8 percent gain. Before this recent rally, the home-improvement shares closely matched the market, while lagging the broader index by 1.7 percent in the four months before.
Investing Insights: General Electric: Competitors Must Watch These Earnings Drivers.