Breaking News
Feb 8, 2024
-
Walt Disney Co. soared 7.9% to $107.0 after the media and entertainment company reported better-than-expected revenue, earnings, and full-year outlook.
The media company announced a $1.5 billion stake in Epic Games, the creator and developer of Fortnite.
Disney confirmed that the company is on track to launch its ESPN streaming service in 2025.
The company also said it is on track to cut $7.5 billion in costs by the end of fiscal 2024. -
PayPal Holdings declined 9.5% to $57.35 after the payments services provider estimated weaker-than-estimated earnings in the first quarter and full year.
However, the company reported fourth-quarter results that were ahead of consensus estimates.
Revenue in the fourth quarter increased 9% to $8.0 billion from $7.4 billion, net income soared 52% to $1.4 billion from $521 million, and diluted earnings per share rose 61% to $1.29 from 81 cents a year ago.
The company estimated revenue in the first quarter of 2024 to increase between 6.5% and 7%, and diluted earnings per share are expected to increase "mid-single-digit" from 70 cents a year ago.
For the full-year 2024, earnings per share are expected to be between $3.60 and $3.80, lower than $3.84 in 2023. -
Spirit Airlines jumped 4.2% to $7.24 after the deep discount airline reported better-than-expected quarterly results.
Revenue in the fourth quarter declined to $1.32 billion from $1.39 billion, net loss shrank 32% to $183.6 million from $1270.6 million, and diluted loss per share fell to $1.68 from $2.49 a year ago.
Total revenue per passenger flight segment declined 15.3% to $114.84, driven by a 25% decrease in fare revenue to 48.24 and a 6.6% fall in non-ticket revenue to $66.60. -
Arm Holdings soared 27.9% to $98.45 after the advanced chip designer reported sharply higher revenue and earnings in its latest quarter.
The UK-based chipmaker reported fiscal third quarter revenue rose 14% to $824 million from $724 million, net income fell 52% to $87 million from $184 million, and diluted earnings per share decreased to 8 cents from 18 cents a year ago.
The company exceeded its fiscal third-quarter revenue estimate of between $720 million and $800 million.
The company estimated fiscal fourth quarter revenue between $850 million and $900 million and lifted its full-year revenue estimate range to between $3.155 billion and $3.205 million from the previous range between $2.96 billion and $3.08 billion. -
Alibaba Group decreased 0.4% to $77.90 after the China-based e-commerce platform operator reported sharply lower quarterly earnings.
Revenue in the December quarter slowed to 5% to 260.35 billion yuan, or $36.67 billion, and net income plunged 77% to 10.7 billion yuan, or $1.5 billion, from a year ago, respectively.
The e-commerce giant also expanded its stock repurchase program by $25 billion to $35.3 billion through March 2027. -
Chipotle Mexican Grill jumped 2.5% to $2,550.0 after the fast food restaurant operator reported sharply higher quarterly earnings following a surge in store traffic.
Net sales in the quarter increased 15.4% to $2.52 billion, net income rose to $282.1 million from $223.7 million, and diluted earnings per share advanced to $10.21 from $8.02 a year ago.
The restaurant chain operator said foot traffic increased 7.4% and comparable same-store sales advanced 8.4% from a year ago.
For the full year 2024, the company estimated a same-store sales increase in the "mid-single-digit" range and plans to open between 285 and 315 new stores. -
Ford Motor Company increased 5.5% to $12.74 after the vehicle maker reported better-than-expected earnings and announced an additional dividend to shareholders.
Revenue in the fourth quarter rose 2% to $46 billion from $44 billion, net income swung to a profit of $1.3 billion from a loss of $0.5 billion, and diluted earnings per share were 32 cents compared to a loss of 13 cents a year ago.
The company declared a regular first-quarter dividend of 15 cents per share and announced a supplemental dividend of 18 cents per share payable on March 1 to shareholders on record on February 16.
The company also said it plans to defer certain investments in the EV business because mainstream adoption of electric vehicles is "happening at a slower rate" than the industry expected. -
Uber Technologies declined 2% to $69.0 after the ridesharing platform operator reported a double-digit rise in revenue and bookings in its latest quarter.
Revenue in the fourth quarter increased 15% to $9.9 billion from $8.6 billion, net income increased to $1.4 billion from $595 million, and diluted earnings per share jumped to 66 cents from 29 cents a year ago.
Gross bookings in the quarter surged 22% to $37.6 billion from $30.7 billion, driven by a 29% increase in mobility bookings to $19.3 billion and a delivery booking surge of 19% to $17.0 billion. -
Yum Brands declined 1.8% to $125.0 after the operators of Pizza Hut, KFC, and Taco Bell reported weaker-than-expected same-store sales increases in its latest quarter.
In the fourth quarter, worldwide system sales rose 5%, excluding foreign currency translation, with sales increasing at KFC chains by 7%, Taco Bell by 6%, and Pizza Hut by 1%.
Total revenues in the quarter increased 1% to $2.03 billion from $2.01 billion, net income surged 25% to $463 million from 371 million, and diluted earnings per share rose 26% to $1.62 from $1.29 a year ago.
The company increased its quarterly dividend to 60.5 cents from 57 cents a year ago. -
Palantir Technologies surged 15.8% to $19.38 after the company reported a jump in its commercial customers.
Revenue in the fourth quarter jumped 20% to $608.4 million from $508.6 million, net income soared to $93.4 million from $30.9 million, and diluted earnings per share advanced to 4 cents from 1 cent.
The company said demand for its AI-driven and large language-based platform is "unrelenting."
The company also said the number of commercial customers increased by 55% to 221 from 143 a year ago.
The company forecasted first-quarter revenue between $612 million and $618 million and full-year revenue between $2.65 billion and $2.67 billion.
Feb 7, 2024
Feb 6, 2024