U.S. Movers: American Express, CSX, Intuitive Surgical, Regions Financial, Solar Edge Technologies
- Scott Peters
- U.S.A. New York City
-
Regions Financial estimated a decline in net interest income in the fourth quarter and in 2023. SolarEdge lowered its revenue outlook. American Express reported solid growth in revenue and transactions on its payment platform.
SolarEdge Technologies plunged 30.8% to $79.31 after the company lowered its third-quarter revenue outlook, citing cancellations and deferrals in Europe.
The company lowered its revenue range between $720 million and $730 million from the previous estimate between $880 million and $920 million.
Enphase Energy dropped 13.5% to $100.34 and First Solar declined 0.2% to $151.75, after SolarEdge revised its sales outlook.
Intuitive Surgical declined 4.5% to $260.95 after the robotic surgery device maker reported mixed quarterly results.
The company said total revenue increased 12% to $1.74 billion from $1.55 billion, net income soared to $415.7 million from $324.0, and diluted earnings per share advanced to $1.16 to 90 cents a year ago.
CSX Corp. added 2.1% to $31.18 after the railroad company reported mixed quarterly results.
Revenue in the third quarter declined 8% to $3.6 billion from $3.9 billion, net income plunged 24% to $846 million from $1.1 billion, and diluted earnings per share decreased to 42 cents from 52 cents a year ago.
American Express Company declined 3.2% to $144.92 despite the financial services company reporting positive quarterly results and demand for premium membership cards.
The charge card company posted sixth quarter in a row of record revenue but also hiked provision for delinquent accounts to $1.23 billion from $778 million a year ago.
Total revenue net of interest expenses increased 13% to $15.4 billion from $13.6 billion, net income advanced 30% to $2.5 billion from $1.9 billion, and diluted earnings per share advanced to $3.30 from $2.47 a year ago.
Regions Financial Corp plunged 15.5% to $14.0 after the regional bank reported weaker-than-expected quarterly results and also forecasted a decline in net interest income in the fourth quarter.
Net interest income in the third quarter increased by 2.3% to $1.29 billion from $1.26 billion, net income advanced to $490 million from $429 million, and diluted earnings per share rose to 49 cents from 43 cents a year ago.
Net interest margin in the quarter rose to 3.73% from 3.53% a year ago, and net interest income is expected to decline 5% in the fourth quarter and fall 11% in 2023 from 2022.
Annual Returns
Company | Ticker | 2025 | 2024 | 2023 |
---|---|---|---|---|
American Express Company | AXP | -0% | 60% | 19% |
Regions Financial Corporation | RF | -2% | 22% | -13% |
Enphase Energy Inc | ENPH | 2% | -47% | -59% |
CSX Corporation | CSX | -14% | -7% | 10% |
SolarEdge Technologies Inc. | SEDG | -1% | -84% | -70% |
First Solar Inc | FSLR | 5% | 3% | 15% |