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    • Breaking News
    Feb 1, 2024
    • Microsoft Corp. decreased 0.9% to $404.75 despite the software company reporting higher-than-expected quarterly earnings.

      Revenue in the fiscal second quarter ending in December increased 18% to $62.02 billion, net income surged 33% to $21.9 billion from $17.4 billion, and diluted earnings per share advanced to $2.93 from $2.32 a year ago.

      Revenue in the cloud segment soared 20% to $25.9 billion, personal productivity and business segment jumped 13% to $19.2 billion, and personal computing segment increased 19% to $16.9 billion.

      The company returned to shareholders $8.4 billion in the form of share repurchases and dividends in the second quarter of fiscal year 2024.
      • Starbucks increased 3.5% to $97.45 after the company reported quarterly results.

        Revenue in the fiscal first quarter ending in December rose 8.2% to $9.4 billion from $8.7 billion, net earnings rose 19.8% to $1.02 billion from $855 million, and diluted earnings per share advanced to 90 cents from 74 cents a year ago.

        Global comparable store sales increased 5%, driven by a 3% increase in comparable transactions and a 2% increase in average ticket sales.

        North America and U.S. comparable store sales increased 5%, driven by a 4% increase in average ticket sales and a 1% increase in comparable transactions.

        The company lowered its full-year revenue outlook because of the competitive environment in its second largest market, China, and rising tensions between the U.S. and China.

        Same-store sales in China increased by 10%; however, average ticket sales at stores fell by 9% as consumers avoided high-priced coffee shops.

        Because of sales weakness in China, the company lowered its fiscal year sales growth to between 7% and 10%, down from the previous estimate of between 10% and 12%.

        The company reiterated its full-year earnings per share growth of between 15% and 20%.
        • Alphabet decreased 5.5% to $144.67 after the parent company of search engine Google, reported weaker-than-expected advertising revenue in its latest quarter. 

          Revenue in the fourth quarter increased 13% to $86.3 billion, net income soared to $20.6 billion from $13.6 billion, and diluted earnings per share advanced to $1.64 from $1.05 a year ago. 

          Google search revenue increased to $48 billion from $42.6 billion, and YouTube ads jumped to $9.2 billion from  $7.9 billion a year ago.    
          • Qualcomm declined 1.8% to $145.83 after the chipmaker reported better-than-expected fiscal first quarter revenue and the company's current quarter sales outlook fell short of expectations. 

            Revenue in the quarter increased 5% to $9.9 billion from $9.5 billion, net income increased by 24% to $2.7 billion from $2.2 billion, and diluted earnings per share advanced to $2.46 from $1.98 a year ago.

            During the first quarter, the company returned $1.7 billion to stockholders, including $895 million, or $0.80 per share, of cash dividends paid and $784 million through repurchases of 6 million shares of its common stock.

            The company estimated revenue in the fiscal second quarter between $8.9 billion and $9.7 billion and diluted earnings per share between $1.73 and $1.93.
            • Align Technology soared 12.2% to $300.0 after the orthodontics company reported better-than-expected sales and earnings in its latest quarter.

              Revenue in the fourth quarter increased 6.1% to $956.7 million from $901.5 million, net income soared three-fold to $124.0 million from $41.8 million, and diluted earnings per share rose to $1.64 from 54 cents a year ago.

              The company guided first quarter revenue between $960 million and $980 million and estimated 2024 total revenues to be "up mid-single digits over 2023."
              • Wolfspeed declined 4.5% to $31.0 after the company's fiscal third-quarter revenue fell short of market expectations.

                Revenue in the fiscal second quarter ending in December increased to $208.4 million from $173.8 million; net loss expanded to $144.7 million from $90.9 million; and diluted loss per share rose to $1.15 from 73 cents a year ago.

                The company estimated fiscal third quarter revenue between $185 million and $215 million, net loss from continuing operations between $134 million and $155 million, and diluted loss per share between $1.07 and $1.23.
                • Honeywell International declined 2.6% to $197.01 after the company announced mixed quarterly results.

                  Sales in the fiscal fourth quarter increased 3% to $9.4 billion from $9.2 billion, net income increased $1.3 billion from $1.0 billion, and diluted earnings per share rose to $1.91 from $1.51 a year ago.

                  The aerospace and building technology company estimated 2024 revenue between $38.1 billion and $38.9 billion and free cash flow between $5.6 billion and $6.0 billion.
                  • Jan 31, 2024
                  • AMD dropped 6% to $161.65 after the maker of advanced semiconductors offered a weak revenue growth outlook, disappointing some investors.

                    Revenue in the fourth quarter increased 10% to $6.2 billion from $5.6 billion, net income soared to $667 million from $21 million, and diluted earnings per share advanced to 41 cents from 1 cent a year ago.

                    For the full year 2023, the company reported revenue of $22.7 billion, net income of $854 million, and diluted earnings per share of $0.53.

                    For the first quarter of 2024, AMD expects revenue to be approximately $5.4 billion.

                    AMD expects data center segment revenue to be flat, with a seasonal decline in server sales offset by a strong data center GPU ramp.

                    Client, embedded, and gaming segment sales are expected to decline sequentially, with semi-custom revenue expected to decline by a significant double-digit percentage.

                    The company added, non-GAAP gross margin is expected to be approximately 52%.
                    • Jan 30, 2024
                    • General Motors jumped 7.5% to $38.03 after the company reported better-than-expected quarterly earnings on flat sales in the fourth quarter.

                      Sales in the quarter edged slightly lower to $42.98 billion from $43.11 billion, net income edged higher to $2.1 billion from $2.0 billion, and earnings per share rose to $1.59 from $1.39 a year ago.

                      The company reiterated its commitment to electric vehicles and confirmed that adoption of the advanced vehicle has been slower than anticipated.

                      Despite the near-term sales challenges, General Motors plans to build a production capacity of one million electric vehicles by 2025.
                      • JetBlue Airways declined 1.1% to $5.44 after the company reported a loss in the latest quarter.

                        Revenue in the fourth quarter decreased 3.7% to $2.3 billion, net income swung to a loss of $124 million from a profit of $24 million, and diluted earnings per share were $0.31 from 7 cents a year ago.