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Feb 2, 2024
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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. -
Starbucks increased 3.5% to $97.45 after the company reported quarterly results.
Revenue in the fiscal first quarter ending in December rose 8.2% to $9.4 billion from $8.7 billion, net earnings rose 19.8% to $1.02 billion from $855 million, and diluted earnings per share advanced to 90 cents from 74 cents a year ago.
Global comparable store sales increased 5%, driven by a 3% increase in comparable transactions and a 2% increase in average ticket sales.
North America and U.S. comparable store sales increased 5%, driven by a 4% increase in average ticket sales and a 1% increase in comparable transactions.
The company lowered its full-year revenue outlook because of the competitive environment in its second largest market, China, and rising tensions between the U.S. and China.
Same-store sales in China increased by 10%; however, average ticket sales at stores fell by 9% as consumers avoided high-priced coffee shops.
Because of sales weakness in China, the company lowered its fiscal year sales growth to between 7% and 10%, down from the previous estimate of between 10% and 12%.
The company reiterated its full-year earnings per share growth of between 15% and 20%. -
Alphabet decreased 5.5% to $144.67 after the parent company of search engine Google, reported weaker-than-expected advertising revenue in its latest quarter.
Revenue in the fourth quarter increased 13% to $86.3 billion, net income soared to $20.6 billion from $13.6 billion, and diluted earnings per share advanced to $1.64 from $1.05 a year ago.
Google search revenue increased to $48 billion from $42.6 billion, and YouTube ads jumped to $9.2 billion from $7.9 billion a year ago. -
Qualcomm declined 1.8% to $145.83 after the chipmaker reported better-than-expected fiscal first quarter revenue and the company's current quarter sales outlook fell short of expectations.
Revenue in the quarter increased 5% to $9.9 billion from $9.5 billion, net income increased by 24% to $2.7 billion from $2.2 billion, and diluted earnings per share advanced to $2.46 from $1.98 a year ago.
During the first quarter, the company returned $1.7 billion to stockholders, including $895 million, or $0.80 per share, of cash dividends paid and $784 million through repurchases of 6 million shares of its common stock.
The company estimated revenue in the fiscal second quarter between $8.9 billion and $9.7 billion and diluted earnings per share between $1.73 and $1.93.
Feb 1, 2024