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Apr 23, 2024

UPS increased 1.6% to $147.30 after the parcel delivery company reported better-than-expected quarterly earnings.

Revenue in the first quarter declined 5.3% to $21.7 billion from $22.9 billion, net income plunged 41.3% to $1.1 billion from $1.9 billion, and diluted earnings per share dropped to $1.30 from $2.19 a year ago.

The company reiterated its 2024 outlook and said consolidated revenue would range from approximately $92.0 billion to $94.5 billion and consolidated operating margin would fall between 10.0% and 10.6%.

UPS

Apr 19, 2024

Intuitive Surgical rose 3.3% to $385.0 after the robotic surgical equipment maker reported better-than-expected quarterly results.

Revenue in the first quarter increased 11% to $1.89 billion from $1.70 billion, net income rose to $547.4 million from $360.8 million, and diluted earnings per share advanced to $1.51 from $1.01 a year ago.

The company placed 313 da Vinci surgical systems, compared with 312 in the first quarter of 2023, and increased its installed base by 14% to 8,887 systems from 7,779 at the end of the first quarter of 2023.

ISRG

KB Home increased 1% to $61.04 after the home builder said its board of directors announced a new $1 billion stock repurchase plan.

The new plan replaces the previous authorization with the remaining $113.6 million.

The company intends to continue its share repurchases in 2024 in a projected range of between $200 million and $400 million for the full year, including $50 million of share repurchases completed during the company’s 2024 first quarter.

The home builder's board of directors raised quarterly cash dividend by 25% to 25 cent per share payable on May 23 to shareholders on May 9.

The company declared first quarter results on March 20 and said it repurchased $50 million of its stock in the period.

In the first quarter ending in March, revenue increased 6% to $1.47 billion from $1.38 billion, net income rose to $138.6 million from $125.5 million, and diluted earnings per share rose to $1.76 from $1.45 a year ago.

KBH

Netflix declined 5.7% to $571.95 after the online streaming service provider reported better-than-expected quarterly results and added it will stop publishing paid subscriber counts starting in 2025.

Revenue in the first quarter increased to $9.37 billion from $8.16 billion, net income rose to $2.13 billion from $1.30 billion, and diluted earnings per share advanced to $5.28 from $2.88 a year ago.

NFLX

Apr 18, 2024

D.R. Horton increased 5.2% to $153.31 after the homebuilder reported better-than-expected results in the fiscal second quarter.

Revenue in the March quarter increased 14% to $9.1 billion from $7.9 billion, net income rose to $1.2 billion from $941 million, and diluted earnings per share advanced to $3.52 from $2.73 a year ago.

DHI

Blackstone decreased 1.8% to $121.0 after the alternative asset manager reported better-than-expected quarterly results.

The company also lowered its cash dividend to 83 cents per share, payable on May 6 to shareholders on record on April 29.

Total revenue increased to $3.7 billion from $1.4 billion, net income soared to $1.7 billion from $210 million, and diluted earnings per share advanced to $1.11 from 11 cents a year ago.

The company repurchased 0.7 million common shares in the quarter and 3.4 million common shares over the last twelve months.

Total assets under management rose to $1.06 trillion from $991 billion a year ago.

Equifax declined 9.6% to $214.04 after the credit score company's second quarter outlook fell short of market expectations.

Revenue in the first quarter increased 7% to $1.4 billion from $1.3 billion, net income to $124.9 million from $112.4 million, and diluted earnings per share advanced to $1.01 from 92 cents a year ago.

The company projected revenue in the second quarter to range between $1.41 billion and $1.43 billion and diluted earnings per share between $1.65 and $1.75.

EFX

Alaska Air Group jumped 4.4% to $44.66 after the regional airline reported better-than-expected quarterly results.

Revenue in the March quarter increased 2% to $2.23 billion from $2.19 billion, net loss shrank to $132 million from $142 million, and diluted loss per share contracted to $1.05 from $1.11 a year ago.

The company received $162 million in compensation from Boeing related to Flight 1282 and the Boeing Max plane grounding ordered by the Federal Aviation Authority.

The company said it expects additional payments from Boeing.

The company's purchase of Hawaiian Airlines for $18 a share was approved by Hawaiian shareholders, and the proposed merger needs regulatory approval.

Alaska Air projected earnings per share for the second quarter between $2.20 and $2.40 and for full-year 2024 between $3.25 and $5.25.

ALK

Apr 11, 2024

The producer price index rose 2.1% from a year ago. In March, it inched higher by 0.2% on the month, the U.S. Bureau of Labor Statistics reported Thursday.

Monthly producer prices rose at the slowest pace in three months, following a 0.6% rise in February and a 0.4% increase in January.

Producer prices increased in March, driven by a 0.3% rise in services, and goods price inflation decreased by 0.1% after rising 1.2% in the previous month.

The core producer price index, which excludes food and energy prices, rose 0.1% on the month and increased 2.4% from a year ago.

Vertex Pharmaceuticals edged up 0.6% to $400.0 after the company agreed to acquire Alpine Immune Sciences for $4.9 billion in cash, or about $65 per share.

Alpine Immune soared 36% to $64.21.

VRTX

ALPN