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    • Breaking News
    Oct 19, 2023
    • Netflix Inc soared 15% to $397.60 after the video streaming platform operator reported sharply higher revenue and earnings growth and added that the company is likely to exceed its annual free cash flow estimate.   

      Revenue in the third quarter increased 7.8% to $8.5 billion from $7.9 billion and net income surged to $1.7 billion from $1.4 billion and diluted earnings per share advanced to $3.73 from $3.10 a year ago. 

      Global streaming paid members increased by 8.76 million to 247.15 million, an increase of 10.8% from a year ago.

      Free cash flow soared to $1.9 billion from $472 million a year earlier. 

      The streaming platform estimated revenue in the fourth quarter to jump 11% to $8.7 billion and paid net additions to match the increase in the third quarter. 
      • Oct 18, 2023
      • J B Hunt Transport Services Inc declined 3.6% to $188.80 after the logistics and transportation services provider reported quarterly earnings that fell short of market expectations.

        Revenue in the third quarter declined 18% to $3.16 billion from $3.83 billion and net income fell to $187.4 million from $269.4 million and diluted earnings per share dropped to $1.80 from $2.57 a year ago. 

        Current quarter total operating revenue, excluding fuel surcharge revenue, decreased 15% from the comparable quarter 2022. 

        This decrease was primarily driven by a 14% and 22% decrease in Intermodal and truckload revenue per load (excluding fuel surcharge revenue) respectively, a 38% decrease in volume in Integrated Capacity Solutions, a 20% decrease in final mile services, and a 1% decline in average revenue producing trucks in dedicated contract services, partially offset by a 1% increase in intermodal volumes and a 6% increase in truckload loads compared to a year ago.
        • Morgan Stanley decreased 4.6% to $77.60 despite the financial services provider reporting higher-than-expected quarterly sales and earnings but revenue in wealth management unit disappointed investors. 

          Revenue in the third quarter increased to $13.2 billion from $12.98 billion and net income rose to $2.40 billion from $2.63 billion and diluted earnings per share dropped to $1.38 from $1.47 a year ago. 

          Net revenue in the wealth management unit rose to $6.4 billion from $6..1 billion but net new assets inflow dropped to $35.7 billion from $64.7 billion a year ago. 

          The company repurchased 17 million of its own shares at an average price of $87.59 or $1.5 billion and the board of directors declared 85 cents a share dividend payable on November 15 to shareholders on record on October 31. 
          • Procter & Gamble Co increased 1.2% to $148.0 after the consumer goods maker reported the fiscal first quarter 2024 earnings that surpassed estimates set by some analysts. 

            Revenue in the latest quarter increased 6% to $21.9 billion from $20.6 billion and and net income rose 15% to $4.5 billion from $3.9 billion and diluted earnings per share advanced to $1.83 from $1.57 a year ago. 

            Sales in the quarter were driven by 1% decline in volume and 7% increase in prices.  

            P&G guided sales in the fiscal 2024 to increase between 2% and 4% and diluted earnings per share to rise between 6% and 9% and fall between $6.25 and $6.43. 
            • United Airlines Holdings Inc dropped 5.1% to $37.65 after the international airline forecasted weak performance in the current quarter largely because of expensive fuel. 

              Revenue in  the Atlantic region was up 15% from a year ago, and 70% compared to the quarter in 2019. Pacific  revenue exceeded third-quarter 2019 levels despite capacity remaining 24% below third-quarter 2019, said the company in an update to investors. 

              The company also added profits in the Atlantic and Pacific regions were at record highs and domestic profits were the second-highest  

              Revenue in the third quarter rose 12.5% to $14.5 billion from $12.9 billion and net income advanced 20% to $1.1 billion from $942 million and diluted earnings per share rose to $3.42 from $2.86 a year ago. 
              • Oct 17, 2023
              • Bank of America Corp increased 1.3% to $27.33 after the financial services company reported quarterly results. 

                Revenue in the third quarter increased 3% to $25.2 billion from $24.5 billion and net interest income jumped 4% to $14.4 billion driven by higher interest rates and loan growth. 

                Net income in the quarter increased to $7.8 billion from $7.4 billion and diluted earnings per share edged up to 90 cents from 88 cents a year ago.  

                The provision for loan losses edged up by $336 million to $1.2 billion, reflecting weakening commercial real estate market conditions and stretched consumers.  
                • Goldman Sachs was unchanged at $314.50 after the financial services provider reported mixed quarterly results. 

                  Third quarter revenue edged slightly lower to $11.8 billion from $11.97 billion and net income dropped to $2.1 billion from $3.1 billion and diluted earnings per share fell to $5.47 from $8.25 a year ago.. 

                  The 6% decline in revenue in asset management was overshadowed by an 8% increase in global investment banking fees. 
                  • Johnson & Johnson added 0.1% to $157.57 after the company reported slightly better-than-expected quarterly results. 

                    Revenue in the third quarter increased 6.8% to $21.3 billion from $19.99 billion and net earnings was flat at $4.3 billion and diluted earnings per share edged up 4% to $1.69 from $1.62 a year ago. 

                    Sales in the U.S. increased 11.1% to $12 billion from $10.8 billion and international sales rose 1.6% to $9.3 billion from $9.2 billion a year ago. 

                    The company revised higher its estimate of non-GAAP annual sales growth estimate to between 8.5% and 9.0% from the previous estimate between 8.0% and 8.5%.   
                    • Wyndham Hotels & Resorts Inc soared 10.4% to $76.28 after Choice Hotels International made a public offer to acquire the budget hotel chain operator. 

                      Choice offered $90 a share, $49.50 in cash and 0.324 of its own stock, about 30% premium to its closing price in the previous regular trading session. 

                      Choice decided to take its $7.8 billion offer directly to shareholders after merger talks between the two companies broke down after six months of discussion.  

                      Before the merger talks broke down, Choice had increased its initial offer of $80 a share to $85 a share, but two parties failed to agree on a deal after discussions stalled since May. 
                      • Lockheed Martin Corp jumped 1% to $444.71 after the defense contractor reiterated its full-year  guidance and released its latest quarterly results. 

                        Revenue in the third quarter ending on September 24 rose 2% to $16.9 billion and net income declined to $1.7 billion from $1.8 billion and diluted earnings per share edged up to $6.73 from $6.71 a year ago. 

                        Lockheed reiterated its full-year revenue range between $66.25 billion and $66.75 billion and diluted earnings per share between $27.0 and $27.20 and free cash flow of $6.2 billion.