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Feb 6, 2024
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Chegg declined 7.5% to $8.60 after the online textbook platform operator estimated lower-than-expected revenue in the first quarter.
Revenue in the fourth quarter declined 8% to $188 million from $205.2 million, net income rebounded to $9.6 million from $1.9 million, and diluted earnings per share rose to 9 cents from 1 cent a year ago.
The company estimated revenue in the first quarter to range between $173 million and $175 million, gross margin between 73% and 74%, and adjusted operating earnings between $43 million and $45 million. -
NXP Semiconductors rose 3% to $227.60 after the advanced semiconductor chip maker reported better-than-expected quarterly results.
Revenue in the fourth quarter increased 3% to $3.4 billion from $3.3 billion, net income declined to $703 million from $734 million, and diluted earnings per share dropped to $2.68 from $2.76 a year ago.
Revenue in the full-year increased 1% to $13.3 billion from $13.2 billion, net income was unchanged at $2.8 billion, and diluted earnings per share edged up to $10.70 from $10.55 a year ago. -
DocuSign dropped 6.6% to $49.70 after the company said it plans to reduce 6% of its staff as a part of its restructuring effort to streamline its operations and reduce costs.
The company employed about 7,336 according to its latest filling with the Securities and Exchange Commission as of end of January 2023. -
Amazon.com jumped 6.4% to $169.35 after the online retailer reported better-than-expected quarterly results.
Revenue in the fourth quarter increased 14% to $170 billion from $149.2 billion, net income rose to $10.6 billion from $0.3 billion, and diluted earnings per share advanced to $1.0 from 3 cents a year ago.
The company estimated net sales in the first quarter between $138 billion and $143.5 billion, an increase between 8% and 13% from a year ago.
Operating income is expected between $8 billion and $12 billion, compared to $4.8 billion in the quarter a year ago. -
Apple declined 2.9% to $181.87 after the computer device maker reported better-than-expected sales in the latest quarter, but the company's struggle in China overshadowed overall results.
Net sales in the fourth quarter increased to $119.6 billion from $117.1 billion, net income jumped to $33.9 billion from $29.99 billion, and diluted earnings per share rose to $2.18 from $1.88 a year ago.
Sales in Greater China declined to $20.8 billion from $23.9 billion; in the Americas, sales increased to $50.4 billion from $49.3 billion; and in Japan, sales rose to $7.7 billion from $6.7 billion. -
Meta jumped 17% to $461.50 after the online networking platform operator reported a sharp rise in revenue and earnings and announced its first dividend.
Revenue in the fourth quarter soared 25% to $40.1 billion from $32.2 billion, net income advanced to $14.0 billion from $4.6 billion, and diluted earnings per share jumped to $5.33 from $1.76 a year ago.
The company repurchased $6.32 billion and $20.03 billion of its common stock in the fourth quarter and full year 2023, respectively.
As of the end of 2023, the company had $30.93 billion available and authorized for stock repurchases, and the company announced a $50 billion increase in its share repurchase authorization today.
The company declared its first-ever quarterly cash dividend of 50 cents per share payable on March 26 to shareholders on record on February 22. -
Exxon Mobil jumped 1% to $103.39 after the largest U.S. oil company reported better-than-expected quarterly results, but profit fell sharply because of a sharp decline in crude oil prices.
Total revenue in the fourth quarter declined to $84.3 billion from $95.4 billion, net income dropped to $7.6 billion from $12.7 billion, and diluted earnings per share fell to $1.91 from $3.09 a year ago.
The company declared a first-quarter dividend of 95 cents per share payable on March 11 to shareholders on record on February 14.
For the full year, the company distributed in 2023 to shareholders $32.4 billion, including $14.9 billion in dividends and $17.4 billion in stock repurchases.
The company also announced its plan to produce lithium through a mining operation in southwest Arkansas, with the potential to supply one million electric vehicles per year. -
Chevron increased 1.2% to $149.70 after the second-largest U.S. oil company reported a decline in earnings in its latest quarter but also rewarded its shareholders with record dividends and stock buybacks in 2023.
Total revenue in the fourth quarter decreased to $47.2 billion from $56.5 billion, net income plunged to $2.2 billion from $6.4 billion, and diluted earnings per share fell to $1.22 from $3.33 a year ago.
The company's annual worldwide net oil-equivalent production in 2023 surpassed 3.1 million barrels, driven by a 14% rise in production in the U.S.
Cash returned to shareholders increased 18% to $26 billion, including a dividend of $11.3 billion and a stock repurchase of $14.9 billion.
“In 2023, we returned more cash to shareholders and produced more oil and natural gas than any year in the company’s history,” said Mike Wirth, Chevron’s chairman and chief executive officer. -
Total non-farm payroll employment increased to 353,000 in January, the U.S. Bureau of Labor Statistics reported on Friday.
The jobless rate remained at 3.7% in January, and the number of unemployed people was little changed at 6.1 million.
The labor force participation rate, at 62.5%, was unchanged in January, and the employment-population ratio, at 60.2%, was little changed.
Professional business services added 74,000 jobs, followed by gains in healthcare by 70,000, retail trade by 45,000, and social assistance by 30,000.
On the other hand, the mining, quarrying, and oil and gas extraction industries lost 5,000 jobs.
Net job gains in December were upwardly revised by 117,000 to 333,000 and in November by 9,000 to 183,00.
In January, average hourly earnings for all employees on a private nonfarm payrolls rose by 19 cents, or 0.6%, to $34.55.
Over the past 12 months, average hourly earnings have increased by 4.5%, suggesting tight labor market conditions are likely to persist. -
Microsoft Corp. decreased 0.9% to $404.75 despite the software company reporting higher-than-expected quarterly earnings.
Revenue in the fiscal second quarter ending in December increased 18% to $62.02 billion, net income surged 33% to $21.9 billion from $17.4 billion, and diluted earnings per share advanced to $2.93 from $2.32 a year ago.
Revenue in the cloud segment soared 20% to $25.9 billion, personal productivity and business segment jumped 13% to $19.2 billion, and personal computing segment increased 19% to $16.9 billion.
The company returned to shareholders $8.4 billion in the form of share repurchases and dividends in the second quarter of fiscal year 2024.
Feb 2, 2024
Feb 1, 2024