U.S. Movers: Alaska Air, Blackstone, D.R. Horton, Equifax

Scott Peters
18 Apr, 2024
New York City

 D.R. Horton increased 5.2% to $153.31 after the homebuilder reported better-than-expected results in the fiscal second quarter. 

Revenue in the March quarter increased 14% to $9.1 billion from $7.9 billion, net income rose to $1.2 billion from $941 million, and diluted earnings per share advanced to $3.52 from $2.73 a year ago.  

Blackstone decreased 1.8% to $121.0 after the alternative asset manager reported better-than-expected quarterly results. 

The company also lowered its cash dividend to 83 cents per share, payable on May 6 to shareholders on record on April 29. 

Total revenue increased to $3.7 billion from $1.4 billion, net income soared to $1.7 billion from $210 million, and diluted earnings per share advanced to $1.11 from 11 cents a year ago. 

The company repurchased 0.7 million common shares in the quarter and 3.4 million common shares over the last twelve months. 

Total assets under management rose to $1.06 trillion from $991 billion a year ago. 

Equifax declined 9.6% to $214.04 after the credit score company's second quarter outlook fell short of market expectations. 

Revenue in the first quarter increased 7% to $1.4 billion from $1.3 billion, net income to $124.9 million from $112.4 million, and diluted earnings per share advanced to $1.01 from 92 cents a year ago. 

The company projected revenue in the second quarter to range between $1.41 billion and $1.43 billion and diluted earnings per share between $1.65 and $1.75. 

Alaska Air Group jumped 4.4% to $44.66 after the regional airline reported better-than-expected quarterly results. 

Revenue in the March quarter increased 2% to $2.23 billion from $2.19 billion, net loss shrank to $132 million from $142 million, and diluted loss per share contracted to $1.05 from $1.11 a year ago. 

The company received $162 million in compensation from Boeing related to Flight 1282 and the Boeing Max plane grounding ordered by the Federal Aviation Authority. 

The company said it expects additional payments from Boeing. 

The company's purchase of Hawaiian Airlines for $18 a share was approved by Hawaiian shareholders, and the proposed merger needs regulatory approval. 

Alaska Air projected earnings per share for the second quarter between $2.20 and $2.40 and for full-year 2024 between $3.25 and $5.25.