Regions Financial Corporation (NYSE: RF) reported second-quarter financial results before the regular trading hours on Friday. The bank holding company reported a loss of 25 cents per share, even as analysts expected a profit of 6 cents per share. Meanwhile, total revenue of $1.54 billion was above the street expectation of $1.47 billion.
RF shares fell 5% during pre-market hours on Friday. The stock has declined 36% since the beginning of this year.
CEO John Turner said, “Our reported net loss reflects a significant credit loss provision that provides for potential future losses in the severely adverse economy in which we are operating.”
In Q2, provision for credit losses was $882 million, compared to $92 million a year ago.
The CEO added, “The actions we have taken over time to strengthen and diversify our business, de-risk our loan book, deploy an effective interest rate hedging program and streamline our operating model have positioned us to support our customers and communities through these challenges.”
Aurora Cannabis, Inc. (NYSE: ACB) reported a wider loss for the fourth quarter of 2020, hurt by a 5% decrease in revenues. The company’s stock fell sharply during Tuesday’s after-hours
Stitch Fix (NASDAQ: SFIX) reported fourth-quarter 2020 financial results after the closing bell on Tuesday. The company reported an 11% increase in Q4 revenues to $443.4 million, beating Wall Street
Nike Inc.'s (NYSE: NKE) profit and revenue in the first quarter of fiscal 2021 surpassed the market's estimates and sent the NKE stock up by about 7% in the extended