Morgan Stanley
The investment banker’s earnings rose 60 percent in the last three months of 2010 on strong results.
The New York bank earned $600 million after paying preferred stock dividends, or 41 cents per share. Revenue rose 14 percent to $7.8 billion.
That was more than the 40 cents per share and $7.4 billion in revenue that analysts surveyed by FactSet expected.
Southwest Airlines
The airline is filling more seats, and passengers are paying higher fares than a year ago.
So it is no surprise that Southwest is making more money. Southwest’s fourth-quarter earnings of $131 million, or 18 cents per share, beat analysts’ forecast of $116.2 million and topped the $116 million the company earned in the same period of 2009. Revenue jumped 15 percent to $3.11 billion.
Union Pacific Corp.
The nation’s largest railroad said Thursday that its fourth-quarter profit soared 41 percent as the U.S. economy continued to gain momentum and the railroad’s shipping volume increased.
The Omaha-based company reported net income of $775 million, or $1.56 per share. That’s up from $549 million, or $1.08 per share, a year ago. Revenue rose 17 percent to $4.4 billion.
Freeport-McMoRan Copper & Gold Inc.
The Phoenix mining giant on Thursday said its fourth-quarter profit jumped 60 percent on higher copper and gold prices as the global economy grew stronger.
Freeport-McMoRan earned $1.55 billion, or $3.25 per share, in the October-December quarter. That compares with a profit of $971 million, or $2.15 per share, in the same quarter of 2009. Revenue rose 22 percent to $5.6 billion.
