HSBC shares sink after fraud-related charge hits profits
Updated
Updated · The Wall Street Journal · May 5
HSBC shares sink after fraud-related charge hits profits
4 articles · Updated · The Wall Street Journal · May 5
London-listed HSBC fell about 5% after the bank took a $400 million fraud-related charge and missed analysts' estimates.
The profit hit made HSBC one of the session's notable decliners, contrasting with gains for Pinterest, FIS, Intel, Samsung and Anheuser-Busch InBev.
Elsewhere, Palantir slipped despite record quarterly revenue and profit, while investors also awaited earnings later on Tuesday from AMD, Electronic Arts and Live Nation.
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