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    Jan 12, 2024
    • Delta Air Lines declined 5.5% to $39.92 after the international carrier reported a sharply higher profit but lowered its 2024 outlook.

      Operating income in the fourth quarter increased by 6% to $14.2 billion from $13.4 billion, net income soared to $2.03 billion from $828 million, and diluted earnings per share rose to $3.16 from $1.29.

      The company guided full-year 2024 earnings to range between $6.0 and $7.0 per share, lower than the previous estimate of at least $7 per share released last year.

      Revenue in the first quarter of 2024 is expected to increase between 3% and 6%, and earnings per share between 25 cents and 50 cents.
      • Citigroup rose 2.2% to $53.21 after the bank reported a quarterly loss as the company booked charges linked to restructuring, overseas risks, and last year's regional banking crisis.

        Revenue in the fourth quarter decreased 3% to $17.4 billion, net income swung to a loss of $1.8 billion from a profit of $3.5 billion, and diluted earnings per share declined to ($1.16) from $1.16 a year ago.
        • Bank of America decreased 2.7% to $32.25 after the bank reported lower quarterly earnings because of one-time charges assessed by the FDIC and transitioning away from the London Interbank Offered Rate.

          Revenue in the quarter increased to $22 billion, net income declined 50% to $3.1 billion from $7.1 billion, and diluted earnings per share dropped to 35 cents from 85 cents a year ago.

          The charges in the quarter include a $1.6 billion pre-tax charge to transition away from LIBOR and a special fee of $2.1 billion charged by the Federal Deposit Insurance Corp. to rescue Silicon Valley Bank and Signature Bank.
          • Wells Fargo declined 1.1% to $48.46 despite the bank reporting higher earnings in the fourth quarter, but the bank warned that net interest income in 2024 is likely to be lower than the previous year.

            Revenue in the fourth quarter increased 2% to $20.48 billion, and net income rose to $3.45 billion, or 86 cents, from $3.16 billion, or 75 cents, a year ago.

            Net interest income in the quarter declined 5% from a year ago to $12.78 billion, and the bank warned that level could decline between 7% and 9% on an annual basis from $52.4 billion in 2023.
            • JP Morgan Chase rose 2.1% to $173.75 after the bank reported quarterly results and a rise in adjusted earnings, excluding fees paid to the government tied to the seizures of regional banks.

              Revenue in the fourth quarter increased 12% to $39.94 billion, and net income declined 15% to $9.31 billion, or $3.04 per share.
              • Jan 11, 2024
              • The consumer price index advanced to 3.4% in December, from a five-month low of 3.1% in November, the U.S. Bureau of Labor Statistics reported Thursday. 

                Over half of the increase in inflation was driven by a rise in shelter prices, and the index for shelter rose at 6.2% compared to 6.5% in the previous month.  

                The slower decline in energy prices by 2.0% compared to 5.4% fall in November, supported the rebound in inflation in the month. 

                Compared to November, consumer prices rose 0.3%, the largest increase in three months. 

                Annual core inflation, which excludes food and energy, eased to 3.9% in December from 4.0% in November, and monthly core inflation rose 0.3% in the month, matching the rate in the previous month. 

                The shelter inflation was the largest contributor to core inflation in the month, after prices rose at 0.5% in December, faster than 0.4% rise in the previous month.   

                 
                • KB Home declined 3% to $61.28 after the home builder reported its fourth-quarter results.

                  Revenue in the quarter decreased to $1.67 billion from $1.94 billion, net income dropped to $150.3 million from $216.4 million, and diluted earnings per share fell to $1.85 from $2.47.

                  Homes delivered in the quarter decreased 10% to 3,407, and the average selling price declined 4.5% to $487,300 from $510,400 a year ago.

                  However, demand for new homes increased in the final quarter, and the cancellation rate declined.

                  Net orders for the fourth quarter were up 176% to 1,909, and net order value grew 157% to $932.6 million.

                  However, the backlog of home orders declined to 5,510 from 7,662, and the backlog value fell to $2.67 billion from $3.69 billion a year ago.
                  • Jan 10, 2024
                  • Intuitive Surgical rose 4.9% to $347.0 after the medical equipment maker reported preliminary quarterly results and a stronger-than-expected fourth-quarter sales outlook.

                    Revenue in the fourth quarter increased 17% to $1.93 billion from $1.66 billion, and revenue in the full-year 2023 rose 14% to $7.12 billion from $6.22 billion a year ago.

                    The company placed 415 da Vinci surgical systems, an increase of 12% from a year ago.

                    In 2023, the number of da Vinci surgical systems installed increased by 8% to 1,370 from 1,264 a year ago.
                    • Taiwan Semiconductor Manufacturing decreased 1.1% to $100.70 after the company reported December 2023 sales. 

                      On a consolidated basis, revenue for December was approximately NT$176.30 billion, a decrease of 14.4% from November and a decline of 8.4% from a year ago. 

                      Revenue for January through December 2023 totaled NT$2,161.74 billion, a decrease of 4.5% compared to the same period in 2022.
                      • Hewlett-Packard Enterprise increased 0.4% to $16.20 after the company confirmed it agreed to acquire Juniper Networks for $40 a share, or about $14 billion, in an all-cash deal.