Breaking News
Jul 25, 2023
-
General Electric Company increased 4.5% to $115.57 after the engineering company reported stronger-than-expected quarterly earnings.
Total revenue increased 18% to $16.7billion from $14.1 billion and net loss attributed to shareholders shrank to $23 million from $949 million and diluted loss per share fell to 2 cents from 86 cents a year ago.
The company monetized its 32% stake in GE HealthCare for $2.2 billion and plans to redeem all its outstanding preferred shares for $2.8 billion on September 15.
The company also lifted its full-year earnings outlook on the strong demand for its engines and products in the aerospace division and record orders in its renewable energy business.
The company revised its organic revenue growth outlook in the low-double-digit range, up from the high-single-digit range and adjusted earnings per share range to between $2.10 and $2.30, up from the previous range between $1.70 and $2.00.
The company guided free cash flow between $4.1 and $4.6 billion, up from the previous estimate range between $3.6 and $4.2 billion. -
Xerox Holdings Corp soared 9.2% to $16.93 after the workspace technology provider reported second quarter earnings ahead of market expectations.
Revenue increased 0.4% to $1.75 billion and net loss attributable to shareholders rose to $61 million from $4 million and diluted loss per share rose to 41 cents from 5 cents a year ago.
The company forecasted 2023 revenue growth between flat and down low-single-digits in constant currency. -
Alaska Air Group, Inc dropped 10.6% to $47.68 despite the regional airline reporting better-than-expected revenue and earnings.
The airline reported second quarter revenue increased 7% to $2.84 billion and net income increased to $240 million from $98 million and diluted earnings per share rose to $1.86 from 76 cents.
The company forecasted full-year earnings per share between $5.50 and $7.50 a share.
The airline repurchased 871,987 shares of common stock for approximately $39 million in the second quarter, bringing total repurchases to $57 million for the six months ended June.
The company anticipates share repurchases of at least $100 million in the remainder of 2023. -
Ryanair Holdings plc declined 4% to $102.30 after the deep discount airline reported a surge in traffic, revenue and earnings.
Revenue in the fiscal year 2024 first quarter ending in June increased 40% to Є3.65 billion after passenger count rose 11% to 50.4 million and load factor rose to 95% from 92% from a year ago.
Profit after-tax soared 290% to Є663 million from Є170 million and earnings per share rose to 58.22 cents from 16.53 cents a year ago. -
CSX Corporation declined 4% to $32.34 after the railroad operator reported earnings that missed some investors' expectations.
Revenue in the second quarter declined 3% to $3.7 billion from $3.8 billion and net income fell 15% to $996 million from $1.2 billion and diluted earnings per share eased to 49 cents from 54 cents a year ago.
Train velocity increased to 17.7 mph from 15.3 mph, dwell time fell to 9.3 hours from 11.8 hours, intermodal trip plan performance increased to 96% from 90% and car load trip plan performance rose to 84% from 59% a year ago.
The company repurchased 28 million shares for $863 million or for an average price of $31.46 per share. -
Intuitive Surgical, Inc fell 2.5% to $338.05 after the robotic surgery device maker reported weaker-than-expected revenue in system sales but the company met earnings expectations.
Total revenue in the second quarter increased to $1.8 billion from $1.5 billion and net income advanced to $426 million from $313.6 million and diluted earnings per share rose to $1.18 from 85 cents a year ago.
Worldwide da Vinci procedures rose 22% compared to the quarter in the previous year. During the second quarter of 2022, the company’s procedure volumes were negatively impacted by COVID-19 cases and increased hospitalizations and government interventions impacting parts of Asia, particularly China.
The compound annual growth rate between the second quarter of 2019 and the second quarter of 2023 was approximately 17%.
The company placed 331 da Vinci surgical systems, compared with 279 and grew its da Vinci surgical system installed base 13% to 8,042 systems from 7,135 in the quarter a year ago. -
Capital One Financial Corp rose 0.6% to $115.58 after the credit card lender and banking services provider reported mixed quarterly results.
Revenue in the second quarter increased 1% to $9..0 billion and net income fell to $1.4 billion from $2.0 billion and diluted earnings per share decreased to $3.53 from $4.98 a year ago.
Net interest margin stayed elevated to 6.48%, fell 12 basis points and provision for credit losses soared to $2.5 billion from $1.1 billion a year ago.
Total deposits rose 12% to $343.7 billion from $307.9 billion from a year ago but fell 2% from $349.7 billion in the previous quarter. -
AutoNation Inc plunged 9.2% to $160.68 despite the largest automotive dealer network operator reporting better-than-expected revenue and earnings.
Revenue in the second quarter was flat at $6.9 billion and net income fell 28% to $27.25 million from $376.3 million and diluted earnings per share plunged to $6.02 from $6.48 a year ago.
New vehicle revenue increased 12% to $3.3 billion but used vehicle revenue declined 17% to $2.1 billion and after-sales service increased 11% to $1.1 billion.
The company repurchased 1.6 million of its own share for an aggregate price of $207 million. -
American Express declined 3.3% to $170.89 after the payment processor reported weaker-than-expected revenue but earnings were ahead of market expectations.
Total revenue net of interest expense in the second quarter increased 12% to $15 billion from $13.4 billion and net income increased 11% to $2.2 billion from $2.0 billion and diluted earnings per share advanced to $2.89 from $2.57 a year ago.
Total network volumes increased 8% to $426.6 billion from $394.8 billion and total provision for credit losses rose to $1.2 billion from $410 million a year ago. -
WNS (Holdings) Ltd declined 5% to $68.95 after the company reported mixed quarterly results.
The information technology and business services provider based in India reported revenue in the fiscal first quarter 2024 ending in June increased 10.5% to $326.5 million from $295.4 million and profit after-tax decreased to $30.1 million from $33.1 million and diluted earnings per share fell to 60 cents from 65 cents a year ago.
The company added six new clients and expanded existing 34 relationships and total staff at the end of the quarter was 59,871.
Jul 24, 2023
Jul 21, 2023
Jul 20, 2023