Updated with market close information and additional information on Capital One.
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GE beat the consensus estimate among analysts polled by Thomson Reuters with a first-quarter profit of $4.1 billion, or 39 cents a share. However, the industrial giant reported weak revenues in most categories, with revenue in the Power & Gas segment down 26% year-over-year. First-quarter total industrial revenue was down 6% from a year earlier.The S&P 500 (SPX.X) and NASDAQ Composite
Capital OneCapital One late on Thursday bounced back from a lousy fourth quarter, with a strong first-quarter earnings report. The McLean, Va., credit card lender reported first-quarter net income of $1.1 billion, or $1.79 a share, compared to $843 million, or $1.41 a share in the fourth quarter, and $1.4 billion, or $2.72 a share, in the first quarter of 2012. The year-earlier period included a $594 million bargain purchase gain from the acquisition of ING Direct (USA). Excluding that gain, first-quarter 2012 earnings were $809 million, or $1.56 a share, underscoring Capital One's success in the most recent quarter. Capital One's net interest income increased to $4.570 billion in the first quarter from $4.528 billion in the fourth quarter and $3.414 billion in the first quarter of 2012. The year-over-year increase reflected the acquisition of HSBC's U.S. credit card portfolio in the second quarter of 2012. Capital One's net interest margin -- the spread between the average yield on loans and investments and the average cost for deposits and borrowings -- expanded during the first quarter to 6.17% from 6.52% the previous quarter and 6.20% a year earlier.
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