Trending: ING Groep's 4Q Miss, Underwhelming Guidance Drags Shares
1155 GMT - ING Groep is among the most mentioned companies across news items over the past four hours, according to Factiva data. The Dutch bank reported fourth-quarter results with total income and costs missing consensus expectations despite net profit coming in slightly ahead. "We think the disappointing revenues will likely get more focus than the pretax beat today," UBS analysts write in a note. The lender guided for 2024's income to be weaker than 2023 and below consensus expectations for the year ahead as it expects net interest income to be lower. ING attributed the weakness to accounting asymmetry and expects higher other income to offset the fall. Results faced what Citi called a "frosty" reception with the stock tumbling to the bottom of Amsterdam's blue-chip index. Shares shed 8.6% to EUR12.05, its lowest price in over two months. Dow Jones & Co. owns Factiva. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
February 01, 2024 05:10 ET (10:10 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
How Anti-Obesity Drugs Are Innovating the Healthcare Market
-
What’s Happening In the Markets This Week
-
Why Immigration Has Boosted Job Gains and the Economy
-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
After Earnings, Is Lyft Stock a Buy, a Sell, or Fairly Valued?
-
8 Stock Picks in the Apparel Industry
-
Baidu Earnings: Advertising Weakness Offset by Continued Growth In Cloud Business
-
Going Into Earnings, Is Target Stock a Buy, a Sell, or Fairly Valued?
-
Walmart Earnings: Low Prices and Strong Digital Presence Drive Market Share Gains
-
After Earnings and a Big Selloff, Is Shopify Stock a Buy, a Sell, or Fairly Valued?
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing