US Bancorp (NYSE: USB) reported earnings results for the first quarter of 2020 today.
Net revenue increased 3.5% year-over-year to $5.77 billion. Net income attributable to US Bancorp common shareholders dropped 32.5% year-over-year to $1.08 billion. Diluted EPS fell 28% to $0.72. The decrease in net income was mainly due to an increase in the provision for credit losses driven by deteriorating economic conditions caused by the impact of the COVID-19 outbreak on the US and global economies.
Business consulting services provider Accenture (NYSE: ACN) reported its fourth quarter and fiscal 2020 earnings last Thursday. Accenture's failure to meet the market's earnings and revenue targets and the weak
Stock markets shifted to recovery mode as the week came to a close, with the major indices closing higher after staying in the negative territory in the past few weeks.
Renewable energy companies have been gaining attraction in the market due to the strong potential they have. Many countries are now relying mainly on renewable energy for their power consumption.