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    • Breaking News
    Jan 23, 2024
    • Airline stocks were higher after United Airlines reported strong fourth quarter results, but the company forecasted a loss in the first quarter after the aviation regulator ordered the grounding of 737 Max 9 planes for emergency inspection following the Alaska Airlines midair door incident.

      Revenue in the fourth quarter increased 9.9% to $13.6 billion from $12.4 billion, net income declined 28.8% to $600 million from $843 million, and diluted earnings per share dropped to $1.81 from $2.55 a year ago. 

      For the full-year 2023, revenue increased 19.5% to $53.7 billion, net income soared nearly four-fold to $2.6 billion, and diluted earnings per share advanced to $7.89 from $2.23 a year ago. 

      The airline estimated a loss in the first quarter between 85 cents and 35 cents and revenue per available seat mile to be flat from the previous year. 

      United Airlines jumped 6% to $40.97. 

      American Airlines rose 3% to $14.02, and Delta Air Lines advanced 2.4% to $37.85 after United reported strong quarterly results.
      • General Electric declined 3% to $127.30 after the industrial engineering company estimated weaker-than-expected first quarter results.

        The company's fourth-quarter results were ahead of market expectations, but investors focused on the current quarter's business conditions.

        Total revenue in the fourth quarter increased 15% to $19.4 billion from $16.8 billion, net income declined 28% to $1.6 billion from $2.2 billion, and diluted earnings per share dropped to $1.44 from $1.53 a year ago. 

        For the first quarter of 2024, GE expects to deliver "high-single-digit" revenue growth, adjusted earnings per share of 60 cents to 65 cents, and free cash flow "in-line with net income growth." 

        The company repurchased approximately 2.2 million common shares  for $0.3 billion in the fourth quarter, bringing the total common shares repurchased under the program in 2023  to approximately 10.6 million shares for $1.1 billion. 

        In addition, the company redeemed all outstanding  preferred stock for $5.8 billion during 2023. 
        • 3M declined 6.6% to $100.86 after the company estimated weak current quarter and full-year earnings estimates.

          Revenue i the fourth quarter was flat at $8.0 billion, net income jumped to $945 million from $541 million, and diluted earnings per share rose to $1.70 from 98 cents a year ago. 

          The diversified conglomerate estimated earnings per share in the first quarter between $2.0 and $2.15 and for the full year between $9.35 and $9.75.
          • Logitech International dropped 6.5% to CHF 77.56 after the computer accessories maker estimated an annual sales decline between 6% and 7%.

            Revenue in the fiscal third quarter ending in December declined 1% to $1.26 billion, net income rose to $247.7 million from $140.5 million, and diluted earnings per share rose to $1.57 from 87 cents a year ago.

            The company revised its sales outlook for the fiscal year 2024 to range between $4.2 billion and $4.25 billion, a decline between 6% and 7% compared to the previous estimate of between $4.0 and $4.15 billion, a decline between 9% and 12%.
            • Jan 22, 2024
            • Sunoco declined 6.2% to $55.77 after the automotive fuel distributor agreed to acquire NuStar Energy, in an all-equity transaction valued at $7.3 billion.   

              NuStar soared 20% to 15.9% to $20.91. 

              NuStar common unitholders will receive 0.4 Sunoco common units for each NuStar common unit, implying a 24% premium based on the 30-day volume-weighted average price of both NuStar and Sunoco as of January 19, 2024. 

              Sunoco said it has secured a $1.6 billion one-year bridge term loan to refinance NuStar's purchase and assume its debt. 
              • Macy's Inc. increased 4.3% to $18.39 after the department store chain rejected a $5.8 bid by a consortium of investors, citing the offer was not financially attractive and lacked credible financing.

                Ark House and Brigade Capital Management proposed to acquire shares in the company for $21 per share.
                • Jan 19, 2024
                • Super Micro Computer soared 12% to $349.76 after the information technology company said strong demand for its rack-scale AI and total IT solutions is driving its sales and earnings ahead of its previous guidance.

                  Sales in the fiscal second quarter ending in December are likely to be in the range of $3.6 billion and $3.65 billion, ahead of its previous estimates of $2.7 billion and $2.9 billion.

                  GAAP diluted earnings per share are expected to be between $4.90 and $5.05, compared to its previous estimate of between $3.75 and $4.24.
                  • Ally Financial soared 8.8% to $34.61 after the company reported better-than-expected quarterly results.

                    Net financing revenue in the fourth quarter decreased to $1.5 billion from $1.7 billion, net income dropped to $49 million from $256 million, and diluted earnings per share fell to 45 cents from $1.08 a year ago.

                    The financial services company attracted 52,000 net new customers and increased its retail deposits from the previous quarter by $2.2 billion.

                    In 2023, the company issued 13.8 million auto loans, and about 40% of the loans were issued at an origination yield of 10.7%.
                    • Regions Financial increased 2.7% to $18.43 after the bank reported a decline in quarterly profit.

                      Net interest income in the December quarter declined to $1.2 billion from $1.4 billion, net income dropped to $367 million from $660 million, and diluted earnings per share fell to 39 cents from 70 cents a year ago.

                      The company paid a special charge of $147 million from the FDIC related to the regional banking crisis in 2023.

                      Net interest margin at the end of the fourth quarter declined to 3.6% from 3.99%, and the tier-1 capital ratio increased to 11.5% from 10.9% a year ago, respectively.
                      • Jan 18, 2024
                      • HB Fuller decreased 0.2% to $76.45 after the adhesive manufacturer reported mixed quarterly results. 

                        Revenue in the December quarter declined 5.8% to $902.8 million from $958.2 million, net income attributable to shareholders declined to $45 million from $48.3 million, diluted earnings per share declined to 80 cents from 87 cents a year ago.