Look at the businesses that are leading the premarket trading charge:
Meta — After the software giant revealed profits that tripled in the fourth quarter and announced its first-ever dividend payout, shares shot up 17%. $5.33 in earnings per share beat the $4.96 that LSEG’s survey of analysts had predicted. Above the $39.18 billion consensus expectation, revenue came in at $40.11 billion.
Amazon: The colossus of e-commerce surged by about 7% each day on the release of positive profits and revenue figures. In contrast to the 80 cents experts had predicted, Amazon’s fourth-quarter earnings came in at $1 per share, according to LSEG. $169.96 billion in revenue was received, exceeding the $166.21 billion average projection.
Bristol-Myers Squibb: The pharmaceutical company’s shares increased 2.4% on its fourth-quarter adjusted earnings announcement of $1.70 on $11.48 billion in revenues, exceeding estimates of $1.53 on $11.19 billion in revenues, as per LSEG.
Chevron: Following the company’s 8% dividend increase and mixed fourth-quarter earnings report, the oil stock increased by less than 1%. The $3.45 adjusted earnings per share exceeded the $3.21 predicted by LSEG’s panel of analysts.
Deckers Outdoor — The footwear company’s stock increased by 10% the day after it revealed fiscal third-quarter earnings per share of $15.11, exceeding the $11.48 analysts surveyed by LSEG had predicted. $1.56 billion in revenue was received, exceeding the $1.45 billion average projection.
Exxon Mobil: After the oil company reported better-than-expected fourth-quarter earnings, its shares fell by less than 1%. In contrast to analysts surveyed by LSEG, who predicted earnings per share of $2.21, the company announced $2.48 earnings per share. Meanwhile, lower oil prices caused net profits to drop 40% from the previous year.
Skechers: The sneaker maker’s stock dropped by about 9% a day after it revealed mixed fourth-quarter earnings and provided cautious annual forecasts. Skechers projected earnings per share of $3.65 to $3.85 in 2024 and revenue of $8.6 billion to $8.8 billion. According to LSEG’s survey of analysts, this year’s estimate is for $8.9 billion in revenue and $4.18 per share in earnings.
Apple: Following the company’s release of Q4 earnings forecast, which suggested that iPhone sales would be sluggish, the consumer tech giant’s shares dropped by more than 3%.
Clorox: A day after the consumer goods maker reported better-than-expected earnings and revenue for the second quarter of its fiscal year, the company’s shares increased by 7%. Clorox exceeded the $1.10 adjusted earnings per share on $1.80 billion predicted by analysts surveyed by LSEG with adjusted earnings of $2.16 per share on revenues of $1.99 billion.
Technology of Microchips — After Microchip Technology released a bleak estimate for the fiscal fourth quarter, the semiconductor stock fell by almost 3%. Additionally, the business reported sales that met analyst forecasts.
Cigna: Following a fourth-quarter earnings and sales beat and a roughly 14% dividend increase, the health insurer saw a 3.6% increase in shares. Additionally, according to StreetAccount, Cinga increased its forecast for full-year sales to at least $235 billion, exceeding the $228.65 billion consensus estimate.
Mattel — After learning from the Wall Street Journal that activist investor Barington Capital has amassed an unknown interest in Mattel and is pushing for reforms to boost the toymaker’s shares, the owner of Barbie saw a gain of about 3%.
Source (CNBC)
