$URBN, which competes with $GPS & $ANF, said that the Anthropologie Group posted flat Retail segment comparable sales for 1Q17, along with improved merchandise margins vs. 1Q16. Strong double-digit growth in expanded categories like home, beauty, Terrain, and BHLDN helped drive these results, and were partially offset by lower apparels categories.
$GE announced investments in additive manufacturing, digital platforms and wind
turbine supply chain. These will add to earnings in 2018 and position the
company in fast growth markets in the future. Orders were $26.9Bil, down 6%. Renewables
grew by 59%. Aviation service orders were up 10% and growth market orders were
$WBS' net interest income for 3Q16 grew to $180.2MM from $168MM in the previous year quarter. Net interest margin rose to 3.10% from 3.04%. The yield on interest-earning assets increased by 6 basis points, while the cost of funds rose by 1 basis point.
$STI said the expense target might go up a little bit in future. Looking at 4Q16 and 2017, the company does not believe it's going to consistently operate with an expense base that is north of $1.4Bil per quarter or low. $STI is going to try to grow revenue more than expenses and look to bring the efficiency ratio down in 2017 relative to 2016.
$WBS, the holding company for Webster Bank, reported a rise in 3Q16 earnings driven by strong commercial loan growth, a rise in net interest margin and solid growth in non-interest income. Net income rose to $51.82MM or $0.54 per share from $51.37MM or $0.53 per share last year. Revenue grew 7.5% to $246.6MM.
$SLB said oil demand was revised upwards in Sept. 2016 and is now forecasted to be around 1.2MM barrels per day for both 2016 and 2017. The company believes that 2017 non-OPEC production will at best be flat, as any production upside from the US, Canada and Brazil will be offset by further declines in the rest of the global production base.