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    • Breaking News
    Jan 12, 2024
    • 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.
                • WD-40 Company advanced 6.5% to $252.0 after the lubricant maker reported better-than-expected quarterly results.

                  Revenue in the fiscal first quarter ending in November increased 12% from a year ago to $140.4 million, rose to $17.5 million from $13.99 million, and diluted earnings per share advanced to $1.28 from $1.02 a year ago.
                  • Lennar Corp. increased 1.4% to $150.17 after the home builder increased its annual dividend to $2.0 from $1.50 a share and the company's board approved the stock repurchase program of $5 billion.
                    • PriceSmart jumped 8.9% to $79.42 after the membership warehouse club reported fiscal first quarter results.

                      Revenue in the quarter ending in November rose 10.6% to $1.2 billion from $1.05 billion, net income jumped to $38 million from $32.9 million, and diluted earnings per share advanced to $1.24 from $1.05 a year ago.
                      • Jan 9, 2024
                      • The U.S. international trade deficit narrowed to $63.2 billion in November from $64.5 billion in October, the Bureau of Economic Analysis reported Tuesday.

                        The goods deficit declined $0.6 billion to $89.4 billion, and the service surplus rose $0.7 billion to 26.2 billion.

                        Total exports decreased by 1.9% to $253.7 billion, and total imports declined by the same amount to $316.9 billion.

                        Year-to-date, the goods and services deficit decreased $161.8 billion, or 18.4%, from the same period in 2022.

                        Exports increased $28.8 billion, or 1.0%, and imports decreased $133.0 billion, or 3.6%.

                        The deficit with China declined by $2.4 billion to $21.5 billion and with the European Union by $3.5 billion to $15.6 billion, but rose by $2.0 billion to $2.3 billion.