Take a look at the companies that are trending during noon trading.
Netflix: The streaming service’s stock surged by about 13% following its robust membership growth and exceeding revenue projections for the fourth quarter. Netflix announced late on Tuesday that it had added 13.1 million new members during that time, totaling 260.8 million members. That exceeds the 256 million experts surveyed by StreetAccount’s expectations.
ASML: Up more than 10% was the stock of semiconductor equipment. Wall Street was not prepared for the top or bottom lines of ASML’s fourth-quarter results, which it revealed. Annually, net sales increased by 12.5%.
AT&T: The stock of the telecom company dropped 3%. The business predicted lower-than-expected adjusted profitability for 2024, despite the fact that revenue exceeded forecasts and AT&T gained more customers than expected.
Advanced Micro Devices: The semiconductor stock surged 6.7% following New Street Research’s buy recommendation. Should AMD’s prediction of a $400 billion addressable market by 2027 come to pass, the company believes that this is the ideal approach to play datacenter artificial intelligence processors.
Spotify: A 3% increase was seen in Spotify’s stock. In order to allow customers to purchase in-app subscriptions and audiobooks, the business said on Wednesday that it will be updating its iPhone app in Europe.
Texas Instruments: The company’s poor guidance for future earnings and revenue caused shares to drop 2%. Texas Instruments projected first-quarter earnings on Tuesday that would be between 96 cents and $1.16 per share, which is lower than the consensus estimate of $1.41 per share per LSEG. In comparison to projections of $4.06 billion, revenue is also predicted to be lower, falling between $3.45 billion and $3.75 billion. In the fourth quarter, the company’s earnings topped estimates, but its bottom lines fell short.
SAP: The German software index increased by 7%. As part of a larger restructuring initiative, SAP announced on Tuesday that it intends to conduct voluntary buyouts or permit job transfers for 8,000 employees. According to the corporation, at year’s end, its headcount should not change.
DuPont de Nemours — DuPont’s preannounced fourth-quarter results fell short of analyst estimates, causing the chemical stock to plunge nearly 12%.
Elevance Health: Although the company’s health insurance memberships fell short of Wall Street’s forecasts, Elevance Health’s shares increased 1%. Along with a robust full-year outlook, the corporation increased its dividend by 10%.
Following the release of Abbott Laboratories’ earnings report, the health care shares fell 3.1%. Abbott reported adjusted earnings of $1.19 per share, which was in line with the analysts’ consensus estimate compiled by FactSet.
Source (CNBC)
