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    Jan 26, 2024
    • Visa Inc. dropped 2.7% to $265.30 after the payment processing platform reported strong quarterly results driven by robust consumer spending; however, the company signaled weakening U.S. spending volume.

      Revenue in the fiscal 2024 first quarter increased 9% to $8.6 billion, net income rose 17% to $4.9 billion from $4.2 billion, and diluted earnings per share advanced 20% to $2.39 from $1.99 a year ago.

      Among the key business drivers, payment volume rose 8%, processed transactions rose 9%, and cross-border volume, including intra-Europe, advanced 16%.
      • American Express Company rose 3.2% to $194.10 after the company reported mixed quarterly results.

        Total revenue net of interest expense increased 11% to $15.8 billion from $14.1 billion, net income rose 23% to $1.93 billion from $1.57 billion, and diluted earnings per share advanced 27% to $2.62 from $2.02 a year ago.

        Business billed in the quarter increased by 6% to $379.8 billion from $357.4 billion a year ago.

        Total provision for credit losses increased by 40% to $1.4 billion from $1.0 billion a year ago.

        Full-year 2023 revenue increased 14% to $60.5 billion, and net income rose to $8.4 billion, or $11.21 per share, compared with net income of $7.5 billion, or $9.85 per share, a year ago.
        • Jan 25, 2024
        • IBM increased 7.3% to $186.59 after the technology company reported better-than-expected quarterly results.

          Revenue in the fourth quarter increased 4% to $17.4 billion from $16.7 billion, net income soared 3% to $3.3 billion from $2.7 billion, and diluted earnings per share jumped to $3.55 from $2.96 a year ago.

          In the year 2023, revenue increased 2% to $61.9 billion, net income jumped to $7.5 billion from $1.6 billion, and diluted earnings per share advanced to $8.14 from $1.80 a year ago.

          The technology company forecasted 2024 revenue to increase "mid-single-digit" and free cash flow to be around $12 billion.
          • American Airlines increased 4.3% to $14.53 after the international carrier reported quarterly results.

            Total operating revenue in the fourth quarter decreased 1% to $13.0 billion from $13.2 billion, net income plunged to $19 million from $803 million, and diluted earnings per share dropped to 3 cents from $1.14 a year ago.

            Full-year revenue surged 7.8% to record $52.8 billion from $48.9 billion, net income jumped to $822 million from $127 million, and diluted earnings per share advanced to $1.21 from 19 cents a year ago.

            Passenger load factor in the quarter edged slightly lower to 83.6% from 83.9%, but total revenue per available seat mile declined 6.4% to 17.21 cents from 18.39 cents a year ago, respectively.
            • Alaska Air increased by 0.5% to $36.02 after the regional airline reported mixed quarterly results.

              Revenue in the fourth quarter increased 3% to $2.6 billion from $2.5 billion, net income swung to a loss of $2 million from a profit of $22 million, and diluted earnings per share were (0.02) cents compared to 17 cents a year ago.

              Alaska Air said the grounding of the Boeing 737 Max 9 will cost the company $150 million after a door panel blew off midair on January 5.

              Alaska said it would resume service using a Boeing 737 Max 9 as early as Friday after the FAA approved the inspection instructions for the aircraft prior to placing it into operation.  
              • Tesla declined 8% to $191.10 after the company reported quarterly results and issued a weak 2024 unit sales outlook.

                Revenue in the fourth quarter increased 3% to $25.2 billion from $24.3 billion, net income soared 115% to $7.9 billion from $3.7 billion, and diluted earnings per share advanced to $2.27 from $1.07 a year ago.

                The latest quarterly income included a one-time non-cash tax benefit of $5.9 billion.

                Free cash flow in the quarter increased to $2.0 billion from $1.4 billion a year ago.

                In 2023, total revenues soared 19% to $96.7 billion, net income attributable to shareholders jumped 19% to $15 billion, and diluted earnings per share advanced 19% to $4.30.

                Vehicles delivered in 2023 increased by 38% to 1.8 million from a year ago, and supercharger stations soared by 27% to 5,952 from a year ago, respectively.

                The company said the vehicle volume growth rate in 2024 may be notably lower than the growth rate achieved in 2023 as the company prepares to launch the next-generation vehicle built at its factory in Texas.
                • Jan 24, 2024
                • SAP SE soared 6% to €158.28 after the German information system company reported fourth-quarter results.

                  Revenue in the fourth quarter rose 5% to €8.5 billion from €8.0 billion, net profit soared to 1.2 billion from 326 million, and diluted earnings per share rose to €1.01 from 46 cents a year ago.

                  The company estimated 2024 cloud segment revenue between €17.0 billion and €17.3 billion, an increase between 24% and 27% in constant currencies.

                  The company said its restructuring, which will involve about 8,000 employees, is likely to cost €2 billion in 2024.
                  • Texas Instruments declined 3% to $168.90 after the company estimated weaker-than-expected revenue and earnings in the first quarter.

                    The technology company estimated revenue in a range of $3.45 billion to $3.75 billion and earnings per share between 96 cents and $1.16.

                    Revenue in the fourth quarter declined 13% to $4.0 billion from $4.7 billion, net income plunged 30% to $1.4 billion from $1.97 billion, and diluted earnings per share fell to $1.49 from $2.13 a year ago.
                    • Netflix soared 10.2% to $542.25 after the streaming service provider reported higher-than-expected quarterly revenue and earnings.

                      Moreover, the company added 13.1 million net new subscribers, increasing the total to 260.8 million paid subscribers, an all-time high.

                      Revenue in the fourth quarter increased 12.5% to $8.8 billion from $8.5 billion, net income advanced to $938 million from $55 million, and diluted earnings per share rose to $3.73 from 12 cents a year ago.

                      The company guided a first-quarter revenue increase of 13.2% to $9.2 billion, net income of $1.97 billion, and diluted earnings per share of $4.49.

                       
                      • Alibaba Group Holding gained 2.2% to $75.63 after company insiders acquired additional stakes in the China-based e-commerce giant.

                        Chairman Joe Tsai acquired $151 million of its U.S.-listed shares in the last quarter, according to a SEC filing on January 22.

                        Co-founder Jack Ma acquired $50 million of the company's Hong Kong-listed stock, according to leading stock brokers in Hong Kong.

                        The news about the insider's purchase was first reported by the New York Times.