U.S. Movers: Alaska Air, GE Vernova, Electronic Arts

Scott Peters
23 Jan, 2025
New York City

Electronic Arts traded down 11.6% to $125.90 after the video game publisher estimated lower-than-expected revenue in the current fiscal year. 

EA’s initial guidance for fiscal year 2025 anticipated "mid-single-digit growth" in live services net bookings; however, the company now projects a "mid-single-digit decline," with revenue in Global Football accounting for the reason for the change in outlook. 

Net revenue in the fiscal second quarter ending in September increased to $2.3 billion from $1.9 billion, net income declined to $294 million from $399 million, and diluted earnings per share dropped to $1.11 from $1.47 from a year ago. 

EA plans to announce its fiscal third quarter results ending December on February 4.

Alaska Air Group Inc. gained 2.9% to $69.33, and the discount airline estimated loss in the current quarter to shrink on robust travel demand. 

Revenue in the fourth quarter increased 38% to $3.5 billion from $2.6 billion, net income swung to a profit of $71 million from a loss of $2 million, and earnings per share rose to 55 cents from a loss of 2 cents a year ago.

The airline guided loss in the fiscal first quarter to range between 70 cents and 50 cents and earnings per share in the full year to stay above $5.75. 

The company said it repurchased 3.9 million shares of common stock for approximately $250 million in the fourth quarter, bringing total repurchases to 5.5 million shares for $312 million in 2024. 

The company's board authorized a new $1 billion share repurchase plan to be executed over the next four years, with repurchases beginning in January 2025. 

GE Vernova Inc dropped 1% to $426.68 after the power company posted strong fourth-quarter results.

Revenue increased to $10.6 billion from $10.04 billion; net income climbed to $484 million from $205 million, and diluted earnings per share rose to $1.73 from 72 cents a year ago.

Free cash flow dropped to $572 million from $1.65 billion a year earlier, despite record orders growth of 22%.