Net cash provided by operating activities of $BRK.A$BRK.B for 2015 decreased to $31.49Bil from $32.01Bil in the previous year, while net cash used in investing activities increased to $26.67Bil from $19.37Bil last year. Net cash provided by financing activities increased to $3.80Bil from $2.73Bil in the prior year.
Effective June 30, 2016, $LECO deconsolidated the financial results of its Venezuela subsidiary due to the adverse conditions in the country. As a result, Venezuela is no longer included in the financial statements. In 3Q15, Venezuela contributed a minimal $34.7MM of net sales, the company said.
Industrial manufacturer $LECO reported a quarterly profit, helped by income tax benefits. The company reported 3Q16 earnings of $60.0MM, or $0.89 per share, which includes a $4.0MM, or $0.06 per share benefit from a discrete income tax item. This compares with net losses of $60.5MM, or $0.82 per share a year ago.
$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.