Breaking News
Jan 30, 2024
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General Motors jumped 7.5% to $38.03 after the company reported better-than-expected quarterly earnings on flat sales in the fourth quarter.
Sales in the quarter edged slightly lower to $42.98 billion from $43.11 billion, net income edged higher to $2.1 billion from $2.0 billion, and earnings per share rose to $1.59 from $1.39 a year ago.
The company reiterated its commitment to electric vehicles and confirmed that adoption of the advanced vehicle has been slower than anticipated.
Despite the near-term sales challenges, General Motors plans to build a production capacity of one million electric vehicles by 2025. -
JetBlue Airways declined 1.1% to $5.44 after the company reported a loss in the latest quarter.
Revenue in the fourth quarter decreased 3.7% to $2.3 billion, net income swung to a loss of $124 million from a profit of $24 million, and diluted earnings per share were $0.31 from 7 cents a year ago. -
Sanmina Corp. soared 16.20% after the semiconductor equipment maker reported better-than-expected quarterly earnings and a current-quarter estimate.
Revenue in the fiscal first quarter ending in December decreased to $1.87 billion from $2.35 billion, net income plunged to $57 million from $92 million, and diluted earnings per share dropped to 98 cents from $1.54 a year ago.
The company guided fiscal second quarter revenue between $1.825 billion and $1.925 billion and diluted earnings per share between 95 cents and $1.05. -
Whirlpool declined 4.5% to $112.27 after the company estimated a weaker-than-expected annual outlook.
Revenue in the fourth quarter increased 3.4% to $5.1 billion, net income swung to $491 million from $1.6 billion, and diluted earnings per share were $8.90 compared to a loss of $29.35 a year ago.
The company estimated 2024 revenue of $16.9 billion and diluted earnings per share between $8.50 and $10.50. -
Intel Corp. declined 10.5% to $44.36 after the advanced chipmaker reported weaker-than-expected quarterly results and issued a cautious outlook.
Revenue in the December quarter rose 10% to $15.4 billion from $14.0 billion, and the company swung to a net income of $2.7 billion from a loss of $664 million, and diluted earnings per share were 63 cents compared to a loss of 16 cents.
For the full year 2023, revenue increased 14% to $54.2 billion. $63.1 billion, net income plunged to $1.7 billion from $8.0 billion, and diluted earnings per share dropped to 40 cents from $1.94 a year ago.
The company guided first-quarter 2024 revenue to range between $12.2 billion and $13.2 billion, with a diluted loss per share of 25 cents and a gross margin of 40.7%. -
KLA Corp. fell 3.9% to $616.96 after the semiconductor equipment company reported better-than-expected quarterly results.
Revenue in the fiscal second quarter ending in December dropped to $2.48 billion from $2.98 billion, net income plunged to $583 million from $979 million, and diluted earnings per share fell to $4.28 from $6.89 a year ago.
The company estimated total revenues in the fiscal third quarter in a range of $2.30 billion, and GAAP gross margin is expected to be around 59.4%.
Diluted earnings per share is expected to be in a range of $4.93, and Non-GAAP diluted EPS is expected to be in a range of $5.26. -
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. -
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.
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