Breaking News
Apr 18, 2024
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Equifax declined 9.6% to $214.04 after the credit score company's second quarter outlook fell short of market expectations.
Revenue in the first quarter increased 7% to $1.4 billion from $1.3 billion, net income to $124.9 million from $112.4 million, and diluted earnings per share advanced to $1.01 from 92 cents a year ago.
The company projected revenue in the second quarter to range between $1.41 billion and $1.43 billion and diluted earnings per share between $1.65 and $1.75. -
Alaska Air Group jumped 4.4% to $44.66 after the regional airline reported better-than-expected quarterly results.
Revenue in the March quarter increased 2% to $2.23 billion from $2.19 billion, net loss shrank to $132 million from $142 million, and diluted loss per share contracted to $1.05 from $1.11 a year ago.
The company received $162 million in compensation from Boeing related to Flight 1282 and the Boeing Max plane grounding ordered by the Federal Aviation Authority.
The company said it expects additional payments from Boeing.
The company's purchase of Hawaiian Airlines for $18 a share was approved by Hawaiian shareholders, and the proposed merger needs regulatory approval.
Alaska Air projected earnings per share for the second quarter between $2.20 and $2.40 and for full-year 2024 between $3.25 and $5.25. -
The producer price index rose 2.1% from a year ago. In March, it inched higher by 0.2% on the month, the U.S. Bureau of Labor Statistics reported Thursday.
Monthly producer prices rose at the slowest pace in three months, following a 0.6% rise in February and a 0.4% increase in January.
Producer prices increased in March, driven by a 0.3% rise in services, and goods price inflation decreased by 0.1% after rising 1.2% in the previous month.
The core producer price index, which excludes food and energy prices, rose 0.1% on the month and increased 2.4% from a year ago. -
Vertex Pharmaceuticals edged up 0.6% to $400.0 after the company agreed to acquire Alpine Immune Sciences for $4.9 billion in cash, or about $65 per share.
Alpine Immune soared 36% to $64.21. -
CarMax declined 7.2% to $73.65 after the used car retailer reported weaker-than-expected quarterly results.
Revenue in the fiscal fourth quarter ending in February declined 1.7% to $5.6 billion from $5.7 billion, net income dropped to $50.3 million from $69.0 million, and diluted earnings per share decreased to 32 cents from 44 cents a year ago.
Retail unit sales in the quarter increased 1.3% to 172,057 units from 169,884 units, and wholesale vehicle sales decreased 4% to 115,546 from 120,330.
The average sale price of a used vehicle decreased 2.3% to $25,985 and that of a that of a wholesale vehicle fell 3.2% to $8,034 from $8,297 a year ago, respectively.
The company pushed back its long-term goal of selling 2 million vehicles in a year to between fiscal years 2026 and 2030, citing macroeconomic uncertainties.
The company repurchased 685,600 shares for $49.3 million at the end of the fiscal fourth quarter, and as of February 29, had $2.36 billion available for repurchase under the outstanding authorization.
In fiscal year 2025, the company intends to "modestly accelerate the pace of share repurchases," above the pace that was implemented in the third quarter of fiscal year 2024. -
Consumer price inflation in March accelerated to an annual pace of 3.5% and advanced 0.4% for the month, the U.S. Bureau of Labor Statistics reported Wednesday.
Annual inflation accelerated for the second month in a row to 3.5% in March, up from 3.2% in February and 3.1% in January.
Core inflation, which excludes food and energy prices, held steady at 0.4% from the previous month and rose 3.8% from a year ago in March.
The persistent inflation was driven by a sharp jump in transportation prices of 10.7%, and steady but elevated housing inflation of 5.7%.
The index for shelter and gasoline contributed to over half of the monthly index for all items. -
Delta Air Lines increased 2.8% to $48.65 after the international carrier reported better-than-expected quarterly results.
Revenue increased 8% to $13.75 billion from $12.76 billion, net income swung to a profit of $37 million from a loss of $363 million, and diluted earnings per share were 6 cents compared to a loss of 57 cents a year ago.
The airline guided second-quarter revenue to increase between 5% and 7% and earnings per share to fall between $2.20 and $2.50.
The company also projected 2024 earnings per share to range between $6.0 and $7.0. -
PriceSmart increased by 2.6% to $85.25 after the membership warehouse club operator reported better-than-expected second-quarter results.
Revenue in the fiscal second quarter ending in February rose 13.1% to $1.29 billion from $1.14 billion, net income rose to $39.3 million from $31.1 million, and diluted earnings per share rose to $1.31 from $1.02 a year ago.
The company declared a special dividend of $1.0 per share payable on April 30 to shareholders on record on April 19. -
WD-40 decreased 2.8% to $248.0 after the lubricant and specialty oil products maker reported weaker-than-expected quarterly revenue.
Revenue in the fiscal second quarter ending in February increased 7% to $139.1 million from $130.2 million, net income edged lower to $15.5 million from $16.5 million, and diluted earnings per share eased to $1.14 from $1.21 a year ago. -
The U.S. economy added more than expected: 303,000 jobs in March, more than 270,000 jobs in February, and at the fastest pace in ten months.
The jobless rate eased to 3.8% in March from a two-year high of 3.9% in February. the U.S. Bureau of Labor Statistics noted in its monthly nonfarm payrolls report.
The average hourly wage for all employees on private nonfarm payrolls rose 0.3%, or 12 cents, to $34.69.
Over the last 12 months, average hourly earnings increased by 4.1% in March after rising by 4.3% in February.
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