U.S. Movers: F5, GM, JetBlue, Sanmina, UPS, Whirlpool

Scott Peters
30 Jan, 2024
New York City

F5 jumped 8% to $200.20 after the secured network management company reported better-than-expected quarterly results.

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.

UPS declined 6.9% to $147.20 after the package delivery company reported mixed quarterly results and the company's outlook fell short of market expectations.

Sanmina Corp. soared 16.20% after the semiconductor equipment maker reported better-than-expected quarterly earnings and a current-quarter estimate.

Revenue in the fiscal first quarter ending in December decreased to $1.87 billion from $2.35 billion, net income plunged to $57 million from $92 million, and diluted earnings per share dropped to 98 cents from $1.54 a year ago.

The company guided fiscal second quarter revenue between $1.825 billion and $1.925 billion and diluted earnings per share between 95 cents and $1.05.

Whirlpool declined 4.5% to $112.27 after the company estimated a weaker-than-expected annual outlook.

Revenue in the fourth quarter increased 3.4% to $5.1 billion, net income swung to $491 million from $1.6 billion, and diluted earnings per share were $8.90 compared to a loss of $29.35 a year ago.

The company estimated 2024 revenue of $16.9 billion and diluted earnings per share between $8.50 and $10.50.