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Apr 25, 2024
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Chipotle Mexican Grill rose 3% to $3,026.0 after the restaurant chain operator reported better-than-expected quarterly results.
Revenue in the first quarter increased 14.1% to $2.7 billion from $2.4 billion, net income rose to $39.2 million from $291.6 million, and diluted earnings per share advanced to $13.01 from $10.50 a year ago.
Same-store sales increased by 7%, driven by a 5.4% increase in store traffic and a 1.6% rise in average sales.
The company estimated full-year comparable sales to increase in the mid- to high-single-digit range, and the restaurant chain plans to open between 285 and 315 stores, with 80% having the drive-through Chipotlane. -
Tesla jumped 12.4% to $162.25 after the electric vehicle maker reported a decline in sales and earnings, but the company's outlook supported market expectations.
Revenue in the first quarter declined 9% to $21.3 billion, net income dropped 55% to $1.13 billion from $2.51 billion, and diluted earnings per share fell to 34 cents from 73 cents a year ago.
In a statement released to investors, Tesla said the volume growth rate in 2024 "may be notably lower than the growth rate achieved in 2023."
The company said it plans to launch "new vehicles, including more affordable models," manufactured on the same production lines without needing additional investment.
The company aims to achieve a 50% increase in annual vehicle production before investing in new plants and equipment. -
Boeing Co. increased 3.3% to $174.60 after the aviation company reported a narrower-than-expected loss and a smaller-than-expected cash outflow in the first quarter.
Revenue in the first quarter declined 8% to $16.5 billion, net loss shrank to $355 million from $425 million, and diluted loss per share eased to 56 cents from 69 cents a year ago. -
Visa Inc. rose 2.4% to $280.80 after the payment processor reported stronger-than-expected quarterly results.
Revenue in the fiscal second quarter ending in March increased 10% to $8.8 billion, net income rose 10% to $4.7 billion, and diluted earnings per share advanced 12% to $2.29.
Global payment volume increased by 8%, and cross-border volume, which drives international transactions excluding intra-Europe, jumped 16% on a constant currency basis.
Total processed transactions in the quarter, which represent transactions processed by Visa, 11% to 55.5 billion. -
Texas Instruments jumped 6.7% to $176.69 after the advanced semiconductor company reported better-than-expected first-quarter revenue.
Revenue declined 16% to $3.66 billion from $4.4 billion, net income fell 35% to $1.1 billion from $1.7 billion, and diluted earnings per share dropped to $1.20 from $1.85 a year ago.
The company also estimated second-quarter revenue in the range of $3.65 billion to $3.95 billion and earnings per share between $1.05 and $1.25. -
General Electric Aerospace soared 4% to $156.32 after the company reported better-than-expected quarter results.
GE Aerospace revenue in the first quarter increased 15% to $8.1 billion, and diluted earnings per share were 92 cents.
Consolidated revenue in the quarter, which included GE Vernova prior to its spinoff, rose 11% to $16.1 billion, and diluted earnings per share rose to $1.38.
Free cash flow in the quarter was $1.7 billion.
GE Aerospace reported new orders increased by 34% to $11 billion, reflecting strong demand for commercial engines and services.
For the full fiscal year 204, the company estimated free cash flow to exceed $5 billion and adjusted diluted earnings per share in the range of $3.80 and $4.05.
The company also estimated commercial jet engines and services revenue to increase in the mid-to-high teens and defense and propulsion technologies revenue to rise in the mid-to-high single-digits. -
PepsiCo decreased 0.3% to $175.90 after the beverage and food maker reported mixed quarterly results.
Revenue in the first quarter increased 2% to $18.3 billion from $17.8 billion, net income rose to $2.0 billion from $1.94 billion, and diluted earnings per share advanced to $148 from $1.40 a year ago.
The company reiterated its full-year 2024 organic revenue growth of 4% and at least an 8% rise in core constant currency earnings per share.
The company also projected total cash returns to shareholders of $8.2 billion, consisting of $7.2 billion in dividends and a stock repurchase of $1.0 billion. -
JetBlue dropped 10.5% to $6.75 after the regional airline reported a wider loss in the first quarter.
Revenue in the quarter declined 5.1% to $2.2 billion from $2.3 billion, net loss expanded to $716 million from $192 million, and diluted loss per share increased to $2.11 from 58 cents a year ago, respectively.
The company estimated second-quarter revenue to fall between 6.5% and 10.5% and capital expenditures of $550 million. -
General Motors increased 4.9% to $45.35 after the vehicle maker reported sharply higher revenue and earnings in the first quarter.
Revenue increased 7.6% to $43.3 billion from $39.0 billion, net income attributable to shareholders rose 24.4% to $2.98 billion to $2.35 billion, and diluted earnings per share advanced to $2.56 from $1.69 a year ago.
The vehicle maker updated its full-year 2024 earnings outlook to a new range between $10.1 billion and $11.5 billion from the previous estimated range between $9.8 billion and $11.2 billion. -
UPS increased 1.6% to $147.30 after the parcel delivery company reported better-than-expected quarterly earnings.
Revenue in the first quarter declined 5.3% to $21.7 billion from $22.9 billion, net income plunged 41.3% to $1.1 billion from $1.9 billion, and diluted earnings per share dropped to $1.30 from $2.19 a year ago.
The company reiterated its 2024 outlook and said consolidated revenue would range from approximately $92.0 billion to $94.5 billion and consolidated operating margin would fall between 10.0% and 10.6%.
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