Breaking News
Feb 8, 2024
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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. -
Chegg declined 7.5% to $8.60 after the online textbook platform operator estimated lower-than-expected revenue in the first quarter.
Revenue in the fourth quarter declined 8% to $188 million from $205.2 million, net income rebounded to $9.6 million from $1.9 million, and diluted earnings per share rose to 9 cents from 1 cent a year ago.
The company estimated revenue in the first quarter to range between $173 million and $175 million, gross margin between 73% and 74%, and adjusted operating earnings between $43 million and $45 million. -
NXP Semiconductors rose 3% to $227.60 after the advanced semiconductor chip maker reported better-than-expected quarterly results.
Revenue in the fourth quarter increased 3% to $3.4 billion from $3.3 billion, net income declined to $703 million from $734 million, and diluted earnings per share dropped to $2.68 from $2.76 a year ago.
Revenue in the full-year increased 1% to $13.3 billion from $13.2 billion, net income was unchanged at $2.8 billion, and diluted earnings per share edged up to $10.70 from $10.55 a year ago.
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