Bear Stearns profits up 38 percent
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Bear Stearns Cos.  said on Thursday quarterly net income soared 38 percent, helped by gains from fees for merger advice and underwriting debt.
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By Stan Choe   Associated Press writer  NEW YORK -- Investment banking firm Morgan Stanley on Wednesday said its third-quarter profit surged on stronger investment-banking and trading business, surpassing analysts' expectations.
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The companyâs second-quarter profit rose 37 percent after factoring in losses from assets it sold, but on a continuing basis results fell on buyout costs at its newspapers.
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SPRINGFIELD - Gun maker Smith &amp; Wesson Holding Corp. said yesterday its fiscal first-quarter profit rose 39 percent due to strong firearms sales, contributions from a recent acquisition and the hunting season.
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Oracle Corp  said on Wednesday that quarterly profit rose 35 percent as new software sales soared 38 percent, beating Wall Street expectations at a time when investors are nervous that IT spending is slowing.
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U.S. investment bank Lehman Brothers Holdings Inc.  on Thursday said its fiscal fourth-quarter profit rose 22 percent on increased income from mergers, offerings and trading.
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Goldman Sachs Group Inc. on Thursday said fourth-quarter profit rose as its fixed-income, currency and commodities business soared while a rebounding stock market boosted investment banking.
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British gas giant BG Group has said that net profits leapt 23 percent last year on rising production and increased energy prices.
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UBS AG said Tuesday its fourth-quarter profit rose 12 percent to 2.02 billion Swiss francs (&#36;1.79 billion), driven by higher revenue from equity trading and solid income from fees on securities managed for clients.
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The S&P 500 stock index touched a six-year high on Thursday as higher-than-expected earnings from investment bank Bear Stearns Co. Inc. , retailer Costco Wholesale Corp.  and other companies improved the outlook for steady profit growth.
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Net earnings at Goldman Sachs Group Inc. rose 23 percent in the fourth quarter as increased transaction volume and a rise in mergers and acquisitions, the brokerage announced Thursday.
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Gas giant BG Group has said that net profits leapt 23 percent last year on rising production and increased energy prices.
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Bear Stearns Cos.  said on  Thursday quarterly net income soared 38 percent helped by gains  from fees for merger advice and underwriting debt for  corporations and acquisition-hungry private equity firms.
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Goldman Sachs Group Inc. , the largest investment bank by market value, said on Tuesday that its quarterly profit rose 93 percent on investment gains, banking fees and strong trading results.
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Bearâs bearish news stood in sharp contrast to figures released by Goldman Sachs, which posted a 79 percent rise in profit.
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Bear Stearns Co Inc  posted a much bigger-than-expected quarterly loss on Thursday, capping a fiscal year when the fifth-largest U.S. investment bank took a beating on bad bets on risky subprime mortgages.
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Stocks opened higher as investors grew encouraged following Oracleâs strong earnings, despite Bear Stearns first-ever quarterly loss.