U.S. Movers: Alibaba, AT&T, Netflix, Texas Instruments

Scott Peters
24 Jan, 2024
New York City

ASML Holding increased 6.3% to €751.80 after the Dutch semiconductor equipment maker reported fourth-quarter earnings ahead of market expectations.

Revenue in the quarter ending in December increased to €7.2 billion from €6.4 billion, net income advanced to €2.0 billion from €1.8 billion, and diluted earnings per share rose to €5.20 from €4.60 a year ago.

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.

Texas Instruments declined 3% to $168.90 after the company estimated weaker-than-expected revenue and earnings in the first quarter.

The technology company estimated revenue in a range of $3.45 billion to $3.75 billion and earnings per share between 96 cents and $1.16.

Revenue in the fourth quarter declined 13% to $4.0 billion from $4.7 billion, net income plunged 30% to $1.4 billion from $1.97 billion, and diluted earnings per share fell to $1.49 from $2.13 a year ago.

Netflix soared 10.2% to $542.25 after the streaming service provider reported higher-than-expected quarterly revenue and earnings.

Moreover, the company added 13.1 million net new subscribers, increasing the total to 260.8 million paid subscribers, an all-time high.

Revenue in the fourth quarter increased 12.5% to $8.8 billion from $8.5 billion, net income advanced to $938 million from $55 million, and diluted earnings per share rose to $3.73 from 12 cents a year ago.

The company guided a first-quarter revenue increase of 13.2% to $9.2 billion, net income of $1.97 billion, and diluted earnings per share of $4.49.

Alibaba Group Holding gained 2.2% to $75.63 after company insiders acquired additional stakes in the China-based e-commerce giant.

Chairman Joe Tsai acquired $151 million of its U.S.-listed shares in the last quarter, according to a SEC filing on January 22.

Co-founder Jack Ma acquired $50 million of the company's Hong Kong-listed stock, according to leading stock brokers in Hong Kong.

The news about the insider's purchase was first reported by the New York Times.

AT&T Inc. declined 3.2% to $16.62 after the telecom company reported weaker-than-expected quarterly results.