Yahoo has agreed to pay $50 million in damages and provide two years of free credit-monitoring services to about 200 million people in the U.S. and Israel whose email addresses and other personal information were stolen as part of the biggest security breach in history.
The restitution hinges on federal court approval of a settlement filed late Monday in a 2-year-old lawsuit seeking to hold Yahoo accountable for digital burglaries that occurred in 2013 and 2014, but weren’t disclosed until 2016.
About 3 billion Yahoo accounts were hit by hackers that included some linked to Russia by the FBI . The settlement reached in a San Francisco court covers about 1 billion of those accounts held by an estimated 200 million people.
Yahoo is now owned by Verizon Communications.
Americans Without a Bank Account at Lowest Level Ever
The Federal Deposit Insurance Corporation says the number of Americans who do not have a bank account fell to a record low last year; one sign that the economic fortunes of the country’s most vulnerable people continues to improve.
Approximately 6.5 percent of U.S. households were unbanked, or do not have a primary bank account, in 2017 the FDIC said Tuesday. That is down from 7 percent in 2017 and from a high of 8.2 percent in 2011.
That translates into roughly 14.1 million adults who do not have a bank account.
The reasons for not having a bank account remained steady from previous surveys, with “not having enough money” being the No. 1 reason for doing so. Not trusting banks was another popular reason for not being banked.
JetBlue: 3Q Earnings Snapshot
JetBlue Airways Corp. (JBLU) on Tuesday reported third-quarter earnings of $50 million.
On a per-share basis, the Long Island City, New York-based company said it had net income of 16 cents. Earnings, adjusted for non-recurring costs, were 43 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The airline posted revenue of $2.01 billion in the period, matching Street forecasts.
JetBlue shares have dropped 26 percent since the beginning of the year. The stock has fallen 19 percent in the last 12 months.
United Technologies: 3Q Earnings Snapshot
United Technologies Corp. (UTX) on Tuesday reported third-quarter net income of $1.24 billion.
The Farmington, Connecticut-based company said it had profit of $1.54 per share. Earnings, adjusted for non-recurring costs and restructuring costs, came to $1.93 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.81 per share.
The maker of elevators, jet engines and other products posted revenue of $16.51 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $16.14 billion.
United Technologies expects full-year earnings in the range of $7.20 to $7.30 per share, with revenue in the range of $64 billion to $64.5 billion.
United Technologies shares have dropped nearly 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 3 percent. The stock has climbed 4.5 percent in the last 12 months.
Harley-Davidson: 3Q Earnings Snapshot
Harley-Davidson Inc. (HOG) on Tuesday reported third-quarter net income of $113.9 million.
The Milwaukee-based company said it had profit of 68 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The motorcycle maker posted revenue of $1.12 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $1.1 billion.
Harley-Davidson shares have declined 24 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 3 percent. The stock has dropped 22 percent in the last 12 months.
Verizon: 3Q Earnings Snapshot
Verizon Communications Inc. (VZ) on Tuesday reported third-quarter earnings of $4.92 billion.
The New York-based company said it had profit of $1.19 per share. Earnings, adjusted for non-recurring costs, were $1.22 per share.
The results surpassed Wall Street expectations. The average estimate of 19 analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.
The largest U.S. cellphone carrier posted revenue of $32.61 billion in the period, which also topped Street forecasts. Nineteen analysts surveyed by Zacks expected $32.54 billion.
Verizon shares have climbed roughly 4 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 3 percent. The stock has risen 11 percent in the last 12 months.
McDonald’s Puts Up Some Supersized 3Q Numbers
McDonald’s is putting up positive same-store sales growth for the 13th consecutive quarter and it’s topped Wall Street profit and revenue expectations for the third quarter.
Shares in the world’s biggest burger chain defied a major sell-off in U.S. markets before the opening bell Tuesday, rising almost 2 percent.
The company earned $1.64 billion, or $2.10 per share. That’s 12 cents better than industry analysts had projected, according to a survey by Zacks Investment Research.
Revenue of $5.37 billion also beat expectations.
Same-store sales for McDonald’s Corp. rose 2.4 percent, which was shy of most estimates, but overlooked by investors in early trading.
Caterpillar 3Q Results Top Street, Helped by Improved Demand
Caterpillar’s third-quarter results beat Wall Street’s expectations, buoyed by increased demand and higher prices.
For the three months ended Sept. 30, the construction equipment company earned $1.73 billion, or $2.88 per share. A year earlier the Deerfield, Illinois-based company earned $1.06 billion, or $1.77 per share.
Stripping out restructuring costs and a tax benefit, earnings were $2.86 per share. Analysts surveyed by FactSet were calling for $2.84 per share.
Revenue climbed to $13.51 billion from $11.41 billion, with sales rising in its construction industries, resource industries, financial products and energy and transportation segments. Wall Street expected $13.26 billion in revenue.
Caterpillar Inc. still anticipates full-year adjusted earnings of $11 to $12 per share. Analysts predict $11.64 per share.
Shares fell 6.7 percent before the opening bell on Tuesday as global markets declined.
PulteGroup: 3Q Earnings Snapshot
PulteGroup Inc. (PHM) on Tuesday reported third-quarter earnings of $289.5 million.
The Atlanta-based company said it had net income of $1.01 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.
The homebuilder posted revenue of $2.65 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $2.6 billion.
PulteGroup shares have decreased 37 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 3 percent. The stock has dropped 25 percent in the last 12 months.
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