Movers: Cheesecake, Goldman Sachs, Morgan Stanley, Roblox, Vodafone

Scott Peters
17 Jan, 2023
New York City

Cheesecake Factory fell 1.2% to $38.06 after the casual restaurant operator was downgraded by Citigroup to "neutral" from "buy" citing the stock is trading near its target price.   

Goldman Sachs Group Inc fell 6.3% to $350.37 after the financial services provider reported a sharp decline in revenue and earnings. 

Goldman Sachs said fourth quarter revenue fell 16% from a year ago to $10.6 billion and net income plunged to $1.2 billion from $3.8 billion or diluted EPS fell to $3.32 from $10.81 from a year ago.

Hugo Boss AG ADR decreased 2.4% to $12.89 after the fashion brand retailer said its fourth quarter revenue exceeded one billion euros for the first time. 

Preliminary sales in the fourth quarter rose 18% to €1.07 billion from €905 million a year ago. 

Morgan Stanley rose 6.2% to $97.35 after the financial services provider reported better-than-expected quarterly results. 

Fourth quarter revenue fell to $12.7 billion from $14.5 billion a year ago and diluted earnings per share dropped to $2.2 billion from $3.7 billion or $1.26 from $2.01 a year ago.

Wealth Management unit reported record full year net  revenues of $24.4 billion and a pre-tax margin of 27.0% or 28.4% excluding integration-related expenses.

The  business added net new assets of $311 billion,  representing a full year 6% annualized growth rate.

Roblox Corp soared 12.4% to $37.34 after the online gaming company released its estimated December sales, called bookings by the company, 

The company estimated December gross bookings or sales between $430 million and $439 million, an increase between 17% and 20% from a year ago. 

December month revenue between $189 million and $199 million, a decline between 1% and 6% from a year ago. 

Daily active users in December increased 18% from a year ago to 61.5 million.

Vodafone Group Plc rose 2.0% to $11.46 after telecom authority in Ghana approved the company's 70% stake sale in Vodafone Ghana to Telecel Group after the company submitted a revised financial proposal.  

Telecel plans to spend about $500 million in the first three years to expand and refinance Vodafone’s network across the country.  

Vodafone acquired 70% stake in Ghana Telecommunications Co in 2008 when it paid the government $900 million. 

The Ghanaian government will retain its 30% stake in the business.

Whirlpool Corporation increased 0.2% to $154.58 after the household equipment maker said it plans to sell its Europe, Middle East and Africa business and form a partnership with Turkey-based Arcelik AS. 

Whirlpool will contribute its European domestic appliance business, and Arcelik will contribute its domestic appliance, consumer electronics, air conditioning, and small domestic appliance businesses into the newly formed entity. 

Whirlpool will own 25% and Arcelik 75% of the newly formed company and Arcelik will retain full-ownership of its Turkish business.