Breaking News
Feb 21, 2024
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Rio Tinto declined 1.8% to 5,176.0 pence after the Australia-focused mining company reported a decline in its profit.
Consolidated revenue in 2023 declined to $54.0 billion from $55.6 billion, net income dropped to $10.1 billion from $12.4 billion, and diluted earnings per share fell to $6.16 from $7.60 a year ago.
Iron ore segment revenue increased to $32.2 billion from $30.9 billion, and aluminum segment revenue edged higher to $12.3 billion from $14.1 billion a year ago, respectively. -
Capital One Financial decreased 3% to $133.0 after the company agreed to acquire Discover Financial in an all-stock deal for $35.3 billion.
The deal was announced late Monday, and after the merger, Capital One shareholders would control 60% and Discover Financial shareholders would control 40% of the combined company. -
Home Depot decreased 2.6% to $352.70 after the specialty retailer reported better-than-expected revenue and earnings in the fourth quarter despite consumers retrenching from larger do-it-yourself projects.
Revenue in the fiscal fourth quarter ending in January declined 2.9% to $34.8 billion, net income dropped 16.7% to $2.8 billion from $3.4 billion, and diluted earnings per share fell 14.5% to $2.82 from $3.30 a year ago.
Total sales in the fiscal year 2023 decreased by 3% to $152.7 billion, comparable sales fell by 3.2%, and comparable sales in the U.S. decreased by 3.5%.
Net earnings in the year decreased 11.5% to $15.1 billion from $171. billion, and diluted earnings per share fell 9.5% to $15.11 from $16.69 per diluted share in fiscal 2022.
The company's board of directors approved a 7.7% increase in its quarterly dividend to $2.25, payable on March 21 to shareholders on record on March 7.
The company estimated total sales in fiscal 2024 to increase by 1%, including the 53rd week, but comparable sales declined by 1.0% in the 52-week period.
The retailer estimated diluted earnings per share to increase by 1% for the 53-week period. -
Walmart increased 2.9% to $175.36 after the general merchandise and grocery retailer reported better-than-expected revenue and earnings in the fourth quarter.
Total revenues in the fourth quarter increased 5.7% to $173.4 billion from $164.0 billion, consolidated net income declined to $5.5 billion from $6.3 billion, and diluted earnings per share decreased to $2.03 from $2.32 a year ago.
For the full fiscal year 2023 ending in January, revenue rose 6% to $648.1 billion from $611.3 billion, net income advanced 32.8% to $15.5 billion from $11.7 billion, and diluted earnings per share rose 32.8% to $5.76 from $4.29 a year ago.
The company guided fiscal first quarter sales to increase between 4% and 5% and adjusted earnings per share before the split to range between $1.48 and $1.56 or post-split between 49 cents and 52 cents.
Walmart stock is set to be split 3-to-1 on February 23; after the close, the stock split will be awarded to shareholders on record on February 22.
Separately, Walmart said it plans to acquire smart TV maker Vizio for $2.3 billion and boost its advertising business through the ad-free streaming content on its television sets.
Vizio jumped 16% to $11.06 and extended its two-day gain to over 40% when the news of a possible deal emerged. -
Robinhood Markets surged 12.5% to $13.33 after the online trading platform operator reported better-than-expected quarterly results.
Revenue in the fourth quarter increased 24% to $471 million from $380 million, net income swung to a profit of $30 million from a loss of $166 million, and diluted earnings per share were 3 cents compared to a loss of 19 cents a year ago.
Net interest revenue increased 41% to $236 million, and net transaction-based revenue rose 8% to $200 million.
Assets under custody increased 65% to $102.6 billion, reflecting net new deposits of $4.6 billion totaling $17.1 billion and higher equity valuations.
Average revenue per user in the quarter increased by 23% to $81. -
Lyft Inc. soared 20% to $14.56 after the ridesharing company reported fourth-quarter results.
Revenue in the quarter increased to $1.22 billion from $1.18 billion, and net losses shrank to $26.3 million from $588.1 million.
Gross bookings on the platform rose to $3.7 billion from $3.2 billion. Active riders increased 10% to 22.4 million from 20.4 million, and rides surged to 190.8 million from 151.1 million a year ago.
The company estimated gross booking in the first quarter between $3.5 billion and $3.6 billion and adjusted operating earnings between $50 million and $55 million. -
Instacart decreased 3.5% to $27.0 despite the food delivery company reporting positive quarterly results.
Revenue in the fourth quarter rose to $803 million from $757 million, net income rose to $135 million from $109 million, and diluted earnings per share dropped to 44 cents from $1.11 a year ago.
Gross transaction volume jumped 7% to $7.9 billion, and orders increased 5% to 70.1 million.
Transaction revenue increased 6% to $560 million, and advertising and other revenue rose 7% to $243 million.
The company estimated first-quarter 2024 gross transaction volume to increase between $8 billion and $8.2 billion, an increase between 7% and 10%. -
Airbnb declined 6.2% to $141.43 despite the online booking platform reporting better-than-expected quarterly results.
Revenue in the quarter surged after the company attracted more first-time customers and expanded beyond its core markets in Europe, South America, and Asia.
Gross booking value in the quarter increased 15% to $15.5 billion, and nights and experiences booked 12% to 98.8 million in the fourth quarter.
Revenue in the fourth quarter rose 17% to $2.2 billion, net income swung to a loss of $349 million from a profit of $319 million, and diluted earnings per share were a loss of 55 cents compared to a profit of 48 cents a year ago.
Active listings at the end of the fourth quarter increased by 1.2 million to 7 million around the world.
Gross booking value in 2023 soared 16% from a year ago to $73.3 billion, and nights and experiences booked jumped 14% to 448.2 million. -
The Coca-Cola Company gained 1.1% to $60.40 after the beverage maker reported mixed quarterly results in the fourth quarter.
Revenue in the quarter rose 7% to $10.85 billion from $10.1 billion after the company passed on higher prices to customers and bottlers; net income declined 3% to $1.98 billion from $2.03 billion; and diluted earnings per share fell to 46 cents from 47 cents a year ago.
Unit case volume increased by 2% in the quarter, and organic revenue rose by 12%, largely driven by double-digit price increases in Europe and the Middle East, Latin America, and Asia Pacific. -
Zoominfo Technologies increased 16% to $18.40 after the market intelligence company reported better-than-expected quarterly results.
Revenue in the December quarter increased to $316.4 million from $301.7 million, net income swung to a loss of $5.5 million from a profit of $23.2 million, and diluted earnings per share were a loss of 1 cent compared to a profit of 8 cents a year ago.
During the year 2023, the company repurchased 22.6 million shares at an average price of $17.68 for an aggregate of $400.1 million.
The company guided fiscal first quarter 2024 revenue between $307 million and $310 million and full-year revenue between $1.26 billion and $1.28 billion.
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