Breaking News
Nov 1, 2024
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Apple Inc. decreased 1.8% to $221.85 after the computing device maker reported sales and earnings that surpassed market expectations. Net income declined after the company paid a one-time charge linked to a tax levy imposed by the European Union's agency.
Revenue in the fiscal fourth quarter ending in September increased 6% to $94.9 billion from $89.5 billion, net income fell to $14.7 billion from $22.95 billion, and diluted earnings per share dropped to 97 cents from $1.46 a year ago.
Net sales in Americas increased to $41.7 billion from $40.1 billion, in Europe jumped to $24.9 billion from $22.4 billion, and in Greater China edged down to $15.03 billion from $15.08 billion, a year ago, respectively.
iPhone sales surged to $46.2 billion from $43.8 billion, Mac sales rose to $7.6 billion from $7.6 billion, and services revenue increased to $24.9 billion from $22.3 billion a year ago, respectively. -
Carnival Corp. slipped 0.8% to $21.83 after the company reported record quarterly results, but weak outlook weighed on the market sentiment.
Revenue in the quarter ending in August increased to $7.9 billion from $6.8 billion, net income rose to $1.7 billion from $1.1 billion, and diluted earnings per share rose to $1.26 from 79 cents a year ago.
During the third quarter, booking volumes remained robust for 2025 sailings at higher prices, in constant currency, compared to the prior year, and cumulative advanced booked position for full year 2025 is above the previous 2024 record with higher prices.
The company estimated fourth quarter net yields to increased 5% from the record level in 2023, and adjusted operating earnings to rise 20% to $1.14 billion. -
Intel Corp. rose 7% to $23.01 after the advanced chipmaker reported loss in its latest quarter but lifted its annual outlook.
Revenue in the third quarter declined 6% to $13.3 billion from $14.2 billion, net income swung to a loss of $16.6 billion from a profit of $0.3 billion, and diluted earnings per share were $3.88 compared to 7 cents a year ago.
Net income in the quarter was impacted by the $6 billion charges linked to accelerated depreciation and goodwill impairment and $9.9 billion charges related to the establishment of a valuation allowance against U.S. deferred tax assets.
The company estimated fourth-quarter earnings to range between $13.3 billion and $14.3 billion and GAAP earnings per share of a loss of 24 cents. -
Exxon Mobil Corp. advanced 2.2% to $119.29 after the oil company reported better-than-expected revenue and earnings in the third quarter.
Revenue in the third quarter decreased to $90.01 billion from $90.76 billion, net income attributable to shareholders fell to $8.6 billion from $9.07 billion, and diluted earnings per share eased to $1.92 from $2.95 a year earlier.
The company increased its fourth-quarter dividend to 99 cents per share from 95 cents, payable on December 10 to shareholders on record on November 14. -
Amazon.com Inc. increased 7% to $199.22 after the online store and services provider reported higher earnings and revenue, driven by a 19% increase in sales for its cloud services.
Net sales in the third quarter increased 11% to $158.9 billion from $143.1 billion, net income advanced to $15.3 billion from $9.9 billion, and diluted earnings per share rose to $.43 from 94 cents a year ago.
North America segment sales increased 9% to $95.5 billion, international segment sales increased 12% to $35.9 billion, and AWS segment sales increased 19% to $27.5 billion, from a year ago, respectively.
The company estimated fourth quarter sales between $181.5 billion and $188.5 billion, an increase between 7% and 11% from a year ago.
Operating income is estimated to range between $16.0 billion and $20.0 billion, an increase from $13.2 billion a year ago.
Oct 31, 2024
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Microsoft Corp. declined 4.8% to $411.89 after the software company reported strong quarterly results, but the company's revenue outlook for the current quarter fell short of investor expectations.
Microsoft estimated revenue in the fiscal second quarter to range between $68.1 billion and $69.1 billion. -
Carvana Co. jumped 20.4% to $249.39 after the used car dealer reported sharply higher sales and earnings.
The company also lifted its full-year earnings outlook, and added results are expected to surpass the high end of its previous estimate. -
Uber Technologies dropped 9.9% to $71.77 after the ride-hailing service provider reported strong quarterly earnings but gross bookings disappointed investors.
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Starbucks Corp. increased 2.4% to $95.94 after the coffee chain operator reported sharply lower-than-expected revenue and earnings in its latest quarter amid demand weakness in the U.S. and China.
Global comparable same-store sales plunged 7% in the fiscal fourth quarter. -
Booking Holdings increased 6.3% to $4,745.43 after the online reservation company's adjusted earnings in the latest quarter surpassed market expectations.
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Visa Inc. increased 3.3% to $291.02 after the payment processor reported better-than-expected quarterly results.
Net revenue in the fiscal fourth quarter ending in September increased 12% to $9.6 billion from $8.6 billion, net income advanced 14% to $5.3 billion from $4.7 billion, and diluted earnings per share rose 17% to $2.65 from $2.27 a year earlier.
In the quarter, payment volume jumped 8%, processed transactions rose 10%, and cross-border volume advanced 13% from a year ago, respectively.
The company declared a cash dividend of 59 cents per share payable on December 2 to all shareholders on record on November 12.
During the quarter, the company repurchased 22 million of its Class A common stocks for an average price of $270.85, or $5.8 billion.
Oct 30, 2024
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Alphabet Inc. Class A increased 6.3% to $180.40 after the search and cloud computing company reported better-than-expected revenue growth.
Consolidated revenue in the third quarter increased 15% to $88.3 billion from $76.7 billion, net income advanced to $26.3 billion from $19.7 billion, and diluted earnings per share rose to $2.12 from $1.55 a year ago.
The company said cloud segment revenue increased 35% to $11.4 billion, led by accelerated growth in its core products and artificial intelligence-driven products and services. -
Chipotle Mexican Grill declined 7% to $56.24 after the fast food chain operator reported weaker-than-expected same store sales growth and revenue in the third quarter.
Third quarter revenue increased 13% to $2.8 billion from $2.5 billion, net income advanced to $387.4 million from $313.2 million, and diluted earnings per share rose to 28 cents from 23 cents a year ago.
Same-store sales growth in the quarter slowed sharply to 6% from 11.2% in the previous quarter.
During the third quarter, the company repurchased $488.1 million of stock at an average price per share of $54.55, and $1.1 billion remained available at the end of the period. -
Super Micro Computer plunged 31% to $33.95 after the company's auditors, Ernst & Young, resigned, citing material weakness in internal control.
The company has still not released its financial statements for this year, and the company is reportedly under federal investigation.
“We are resigning due to information that has recently come to our attention, which has led us to no longer be able to rely on management’s and the Audit Committee’s representations,” Ernst & Young said in their resignation letter. -
Advanced Micro Devices dropped 8.9% to $151.43 after the company's quarterly results and guidance fell short of investor expectations.
Third quarter revenue increased 18% to $6.8 billion from $5.8 billion, net income advanced 158% to $771 million from $299 million, and diluted earnings per share rose to 47 cents from 18 cents a year ago.
The company estimated a fourth quarter revenue increase of 22% from a year ago to $7.5 billion and a non-GAAP gross margin of 54%.
Oct 29, 2024
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McDonald's increased 0.7% to $299.07 after the fast food chain reported better-than-expected quarterly results.
Consolidated revenue in the third quarter increased 3% to $6.9 billion from $6.7 billion, net income fell 3% to $2.25 billion from $2.32 billion, and earnings per share fell 1% to $3.13 from $3.17 a year ago.
Global comparable sales declined 1.5% in the quarter, but sales in the U.S. rose 0.5%.
However, the latest E. coli outbreak in 13 states linked to the company's Quarter Pounder burger is likely to dent sales in the current quarter. -
D.R. Horton plunged 9.6% to $163.05 after the homebuilder reported weaker-than-expected quarterly results.
Revenue in the fiscal fourth quarter ending in September declined to $10.0 billion from $10.5 billion, net income fell to $1.3 billion from $1.5 billion, and diluted earnings per share dropped to $3.92 from $4.45 a year ago.
The homebuilder offered weak annual revenue and unit home sale outlook as buyers struggle with affordability issues.
The company estimated fiscal year 2025 revenue between $36 billion and $37.5 billion, home completions between 90,000 and 92,000 units, stock repurchase of $2.4 billion, and dividend payment of $500 million. -
Cadence Design Systems jumped 10.5% to $279.24 after the chip design software company reported better-than-expected quarterly results.
Revenue in the third quarter increased to $1.21 billion from $1.02 billion, net income decreased to $238.1 million from $254.3 million, and diluted earnings per share fell to 87 cents from 94 cents a year ago.
The company reiterated its full-year 2024 revenue to range between $4.61 billion and $4.65 billion and diluted net income per share between $3.70 and $3.76. -
HSBC Holdings increased 4.3% to $47.12 after the UK- and Hong Kong-based bank reported rising revenue and earnings in the September quarter.
Revenue increased 5% to $17.21 billion from $16.7 billion, and net income advanced 8% to $6.7 billion from $6.2 billion a year ago, respectively.
The largest European bank also announced a stock repurchase plan of $3 billion.
Oct 28, 2024
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ON Semiconductor Corp. decreased 0.4% to $70.94 despite the advanced chipmaker for automobile and industrial systems reporting higher sales and earnings in its latest quarter.
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McDonald's Corp. decreased 2.7% to $299.0 after the company ruled out the outbreak of E. coli linked to the company's Quarter Pounders. The company said it plans to resume selling quarter pounders at impacted restaurants as early as this week.
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Boeing declined 1.3% to $153.08 after the embattled aviation company launched an offering to raise as much as $19 billion.
The company is looking to sell 90 million shares and $5 billion of mandatory convertible securities.
The commercial plane maker and defense contractor has struggled to stem cash outflow after 33,000 workers struck in September, halting production, including popular 737 Max aircraft.
Oct 25, 2024
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Deckers Outdoor Corporation jumped 10.7% to $168.28 after the maker of Ugg and Hoka reported sharply higher-than-expected fiscal second quarter earnings and revenue.
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DexCom declined 3.5% to $72.33 despite the company reporting higher-than-expected quarterly earnings, but slower revenue growth weighed on the stock.
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Tapestry Inc. increased 13.9% to $50.63, and Capri Holdings declined 47% to $22.09 after a federal judge blocked a merger between the two fashion companies.
Oct 24, 2024
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Single-family home sales in September increased 6.3% from a year ago to a seasonally adjusted annual rate of 738,000, according to an estimate released by the U.S. Census Bureau.
Home sales rose 4.1% from the previous month, the highest level since May 2023, following a downwardly revised 709,000 in August.
The median price of a new home increased to $426,300 from $426,100, and the average price decreased to $501,000 from $515,000 a year earlier, respectively.
The seasonally adjusted estimate of new houses for sale at the end of September was 470,000, representing a supply of 7.6 months at the current sales rate.
Sales decreased 22.2% in the Northeast to 28,000 and declined 10.9% in the West to 156,000, but rose 14.9% to 77,000 in the Midwest and increased 14.7% to 477,000 in the South.
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Tesla Inc. jumped 15.6% to $249.57 after the electric vehicle maker reported better-than-expected profit in the third quarter.
Total revenue in the third quarter increased 8% to $25.2 billion from $23.4 billion, net income attributable to shareholders advanced 17% to $2.2 billion from $1.9 billion, and diluted earnings per share rose 9% to 72 cents from 66 cents a year ago.
Vehicle delivery in the quarter increased 6% to 462,890 from 435,059 a year ago. -
Lam Research Corporation increased 3% to $75.10 after the advanced semiconductor equipment maker's earnings surpassed market expectations.
Revenue in the third quarter increased 8% to $4.2 billion from $3.9 billion, net income rose to $1.1 billion from $887.4 million, and diluted earnings per share advanced to 8.56 from $6.66 a year earlier.
Of the total sales, China accounted for 37%, followed by Korea with 18%, Taiwan with 15%, the U.S. with 12%, and Japan with 7%.
The company estimated fourth quarter revenue of $4.3 billion with a band of $300 million and post-split net income per diluted share of 87 cents with a band of 10 cents.
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United Parcel Service increased 6.2% to $139.19 after the company reported better-than-expected third quarter earnings and revenue.
Revenue in the third quarter increased 5.6% to $22.3 billion from $21.0 billion, net income advanced 36% to $1.5 billion from $1.1 billion, and diluted earnings per share rose to $1.80 from $1.31 a year earlier.
Domestic revenue increased 5.8% to $14.5 billion, driven by a 6.5% increase in average daily volume.
The company estimated consolidated revenue of $91.1 billion, capital expenditure of $4.0 billion, and dividend payment of about $4.5 billion.
Oct 23, 2024
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McDonald's Corp. decreased 6.7% to $293.54 after the U.S. Centers for Disease Control and Prevention said an E. coli outbreak was linked to the company's Quarter Pounder burgers.
The CDC said that the outbreak has resulted in the death of one person and the hospitalization of 10 people. -
Coca-Cola Co. declined 2.5% to $67.70 after the beverage maker reported slightly higher-than-expected quarterly earnings.
Adjusted revenue in the third quarter was flat at $1.95 billion, and unit case volume fell 1%, largely driven by the weakness in its international markets.
Net income attributable to shareholders declined to $2.85 billion from $3.09 billion, and diluted earnings per share fell to 66 cents from 71 cents a year earlier. -
Manhattan Associates dropped 5.6% to $276.0 after the supply chain software developer's revenue growth outlook fell short of market expectations.
Revenue in the third quarter increased to $266.7 million from $238.4 million, net income advanced to $63.8 million from $49.4 million, and diluted earnings per share rose to $1.03 from 79 cents a year ago.
The company estimated full-year 2024 revenue between $1.039 and $1.041 billion, an increase of 12% from a year ago.
The company estimated diluted earnings per share to range between $3.47 and $3.49, an increase of about 23% from a year ago. -
Texas Instruments increased 2.5% to $198.85 after the advanced semiconductor reported better-than-expected quarterly results.
Revenue in the third quarter declined 8% to $4.2 billion from $4.5 billion, net income dropped 20% to $1.36 billion from $1.70 billion, and diluted earnings per share fell 21% to $1.47 from $1.85 a year ago.
The company estimated fourth quarter revenue to fall between $3.70 and $4.0 billion and diluted earnings per share between $1.07 and $1.29.