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Jan 30, 2024
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Whirlpool declined 4.5% to $112.27 after the company estimated a weaker-than-expected annual outlook.
Revenue in the fourth quarter increased 3.4% to $5.1 billion, net income swung to $491 million from $1.6 billion, and diluted earnings per share were $8.90 compared to a loss of $29.35 a year ago.
The company estimated 2024 revenue of $16.9 billion and diluted earnings per share between $8.50 and $10.50. -
Intel Corp. declined 10.5% to $44.36 after the advanced chipmaker reported weaker-than-expected quarterly results and issued a cautious outlook.
Revenue in the December quarter rose 10% to $15.4 billion from $14.0 billion, and the company swung to a net income of $2.7 billion from a loss of $664 million, and diluted earnings per share were 63 cents compared to a loss of 16 cents.
For the full year 2023, revenue increased 14% to $54.2 billion. $63.1 billion, net income plunged to $1.7 billion from $8.0 billion, and diluted earnings per share dropped to 40 cents from $1.94 a year ago.
The company guided first-quarter 2024 revenue to range between $12.2 billion and $13.2 billion, with a diluted loss per share of 25 cents and a gross margin of 40.7%. -
KLA Corp. fell 3.9% to $616.96 after the semiconductor equipment company reported better-than-expected quarterly results.
Revenue in the fiscal second quarter ending in December dropped to $2.48 billion from $2.98 billion, net income plunged to $583 million from $979 million, and diluted earnings per share fell to $4.28 from $6.89 a year ago.
The company estimated total revenues in the fiscal third quarter in a range of $2.30 billion, and GAAP gross margin is expected to be around 59.4%.
Diluted earnings per share is expected to be in a range of $4.93, and Non-GAAP diluted EPS is expected to be in a range of $5.26. -
Visa Inc. dropped 2.7% to $265.30 after the payment processing platform reported strong quarterly results driven by robust consumer spending; however, the company signaled weakening U.S. spending volume.
Revenue in the fiscal 2024 first quarter increased 9% to $8.6 billion, net income rose 17% to $4.9 billion from $4.2 billion, and diluted earnings per share advanced 20% to $2.39 from $1.99 a year ago.
Among the key business drivers, payment volume rose 8%, processed transactions rose 9%, and cross-border volume, including intra-Europe, advanced 16%. -
American Express Company rose 3.2% to $194.10 after the company reported mixed quarterly results.
Total revenue net of interest expense increased 11% to $15.8 billion from $14.1 billion, net income rose 23% to $1.93 billion from $1.57 billion, and diluted earnings per share advanced 27% to $2.62 from $2.02 a year ago.
Business billed in the quarter increased by 6% to $379.8 billion from $357.4 billion a year ago.
Total provision for credit losses increased by 40% to $1.4 billion from $1.0 billion a year ago.
Full-year 2023 revenue increased 14% to $60.5 billion, and net income rose to $8.4 billion, or $11.21 per share, compared with net income of $7.5 billion, or $9.85 per share, a year ago. -
IBM increased 7.3% to $186.59 after the technology company reported better-than-expected quarterly results.
Revenue in the fourth quarter increased 4% to $17.4 billion from $16.7 billion, net income soared 3% to $3.3 billion from $2.7 billion, and diluted earnings per share jumped to $3.55 from $2.96 a year ago.
In the year 2023, revenue increased 2% to $61.9 billion, net income jumped to $7.5 billion from $1.6 billion, and diluted earnings per share advanced to $8.14 from $1.80 a year ago.
The technology company forecasted 2024 revenue to increase "mid-single-digit" and free cash flow to be around $12 billion. -
American Airlines increased 4.3% to $14.53 after the international carrier reported quarterly results.
Total operating revenue in the fourth quarter decreased 1% to $13.0 billion from $13.2 billion, net income plunged to $19 million from $803 million, and diluted earnings per share dropped to 3 cents from $1.14 a year ago.
Full-year revenue surged 7.8% to record $52.8 billion from $48.9 billion, net income jumped to $822 million from $127 million, and diluted earnings per share advanced to $1.21 from 19 cents a year ago.
Passenger load factor in the quarter edged slightly lower to 83.6% from 83.9%, but total revenue per available seat mile declined 6.4% to 17.21 cents from 18.39 cents a year ago, respectively. -
Alaska Air increased by 0.5% to $36.02 after the regional airline reported mixed quarterly results.
Revenue in the fourth quarter increased 3% to $2.6 billion from $2.5 billion, net income swung to a loss of $2 million from a profit of $22 million, and diluted earnings per share were (0.02) cents compared to 17 cents a year ago.
Alaska Air said the grounding of the Boeing 737 Max 9 will cost the company $150 million after a door panel blew off midair on January 5.
Alaska said it would resume service using a Boeing 737 Max 9 as early as Friday after the FAA approved the inspection instructions for the aircraft prior to placing it into operation. -
Tesla declined 8% to $191.10 after the company reported quarterly results and issued a weak 2024 unit sales outlook.
Revenue in the fourth quarter increased 3% to $25.2 billion from $24.3 billion, net income soared 115% to $7.9 billion from $3.7 billion, and diluted earnings per share advanced to $2.27 from $1.07 a year ago.
The latest quarterly income included a one-time non-cash tax benefit of $5.9 billion.
Free cash flow in the quarter increased to $2.0 billion from $1.4 billion a year ago.
In 2023, total revenues soared 19% to $96.7 billion, net income attributable to shareholders jumped 19% to $15 billion, and diluted earnings per share advanced 19% to $4.30.
Vehicles delivered in 2023 increased by 38% to 1.8 million from a year ago, and supercharger stations soared by 27% to 5,952 from a year ago, respectively.
The company said the vehicle volume growth rate in 2024 may be notably lower than the growth rate achieved in 2023 as the company prepares to launch the next-generation vehicle built at its factory in Texas. -
SAP SE soared 6% to €158.28 after the German information system company reported fourth-quarter results.
Revenue in the fourth quarter rose 5% to €8.5 billion from €8.0 billion, net profit soared to 1.2 billion from 326 million, and diluted earnings per share rose to €1.01 from 46 cents a year ago.
The company estimated 2024 cloud segment revenue between €17.0 billion and €17.3 billion, an increase between 24% and 27% in constant currencies.
The company said its restructuring, which will involve about 8,000 employees, is likely to cost €2 billion in 2024.
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