Equity Indexes Wrap: Amex Jumps;𓃲 Tec🔯h and Semiconductors Stocks Slide

The Dow

American Express (AXP) jumped 7.1% to 澳洲幸运5官方开奖结果体彩网:a record high after offering better-th🐻an-expected fulඣl-year earnings guidance and raising its dividend. 

UnitedHealth Group (UNH) added 2%, recouping some of yesterday’s losses following competitor Humana’s 澳洲幸运5官方开奖结果体彩网:profit warning.

Boeing (BA) rose 1.8% after Alaska Airlines and 💎United Airlines both said they would resume 737-9 Max flights after a weꦜeks-long grounding. 

Salesforce (CRM) inched up 0.3% after saying it would 澳洲幸运5官方开奖结果体彩网:cut 700 jobs, or 1% of its workforce, in another 🗹round of layoffs. 

Intel (INTC) tumbled 11.9% after offering disappointing 澳洲幸运5官方开奖结果体彩网:current-quarter guidance.

Visa (V) slid 1.7% as declining payment volume in the most recent quarter overshadowed its 澳洲幸运5官方开奖结果体彩网:earnings beat. 

International Business Machines (IBM) slid 1.6%, giving back some of yesterday’s 9% gain following its 澳洲幸运5官方开奖结果体彩网:upbeat earnings guidance. 

Big tech slipped, with Apple (AAPL) and Microsoft (MSFT) losing 0.9% and 0.2%, respectively. 

The S&P 500

Capital One Financial (COF) rose 4.6% despite missing earnings estimates af♈ter increasing credit loss provisions. 

Medical device and diagnostics stocks outperformed. Bio-Rad Laboratories (BIO) rose 4.1%, Catalent (CTLT) gained 3.6%, and Danaher (DHR🔴) added 2.5%. 

L3Harris Technologies (LHX) rose 2.2% after topping analysts’ earnings and sales estimates in the 💝most recent qua♌rter.

Fair Isaac Corp. (FICO) slid 6.9% despite beating Wall Street estimates on the top and bottom line with🧸 its quarterly report. 

Western Digital (WDC) fell 3.5% after reporting a 澳洲幸运5官方开奖结果体彩网:decline in revenue in the fourth quarter. 

Cruise operators slipped, with Carnival Corp. (CCL) losing 3.9% and Royal Caribbean (RCL) dropping 3.3%.

T-Mobile (TMUS) dipped 0.2% after its 澳洲幸运5官方开奖结果体彩网:fourth-quarter profit fell short of analysts’ expectations.

The Nasdaq 100

Airbnb (ABNB) jump🉐ed 5.3% after the company said 𒐪it would start charging a 2% currency conversion fee in April. 

KLA Corp. (KLAC) fell 6.6% after offering lower-than-expected current quarter guidance 澳洲幸运5官方开奖结♑果体彩网:amid “chall🤪enging” market conditions. Peers Applied Materials (AMAT) and Lam Research Corp. (LRCX) follꦦowed KLA lower, falling 3.3% and 3.1%, respectively. 

Chip stocks slumped on Intel’s downbeat guidance. Broadcom (AVGO) fell 2%, while AMD (AMD) lost 1.5% and Nvidia (NVDA) slid 1%.

American Express Sꦦtock Hits Record on Strong 2024 Guidance

American Express Co. (AXP) shares jumpe🎃d Friday to an all-time high as the credit card and financial services firm posted strong guidance and boosted its dividend despite quarterly results that were 🔥less than expected.

Amex said it expects full-year 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) for this year in the range of $12.65 to $13.15, beating estimates. It also sees 2024 revenue rising 9% to 11%, with the midrange above forecasts. 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Stephen Squeri said the upgraded outlook was based on "the momentum in our business."

In the fourth quarter, the company reported EPS of $2.62, up from $2.🉐07 a year ago. Revenue advanced 11% to $15.8 billion. However, analysts were looking for EPS of $2.64 and revenue of $16 billion, respectively🍌.

Expenses for the latest quarter climbed 5%, mainl♏y because of higher customer engagement costs, Amex said. It said operating expenses rose, in part because of the devaluation of the Argentine peso, and as the com🌼pany paid its workers more.

Shares of American Express were up about 6.7% at a record $200.70 F💃riday afternoon, and have advanced about 28% in the past year.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Booz Allen Hamilton Stock Surges to Record High 🎉on Earnings Beat, Raised Guidance

Shares of Booz Allen Hamilton (BAH) jumped Friday after thꦕ🀅e defense consultant said earnings more than tripled in the most recent quarter. 

Revenue grew about 13% year-over-year to $2.6 billion. Net income surged by 374% $146 million. Adjusted for one-time charges, earnings rose about 29% to $184 million, or $1.11 per share.

The company attributed the solid revenue growth to “strong demand for our services and solutions as well as continued headcount growth.”

The company also raised its fꦺull-year earnings outlook, bumping its estimated revenue growth to a range of 14% to 15%, from a prior estimate of growth between 11% and 14%. Adjusted earnings per share are now forecast to fall between $5.25 and $5.40, up from between $4.95 and $5.10. 

Booz Allen Hamilton shares, already trading near an all-time high before Friday’s report, jumped more than 12% to nearly $145, bringing the stock's 12-month price return to about 49%. 

Midday Movers

American Express (AXP) was the best-performing stock in the Dow and S&P 500 after the financial services firm released full-year guidance that beat estimates and raised its dividend.

Shares of L3Harris Technologies (LHX) gained as t🌳he defense contractor beat profit and sales estimates, boosted by its acquisitions of Aerojet Rocketdyne an🧜d Viasat's Tactical Data Links.

Boeing (BA) shares took off as Alaska and United airlines began flying 737 Max 9 jets again following their grounding for inspections when a door plug blew out on a flight 澳洲幸运5官方开奖结果体彩网:earlier this month. 

Intel (INTC) shares plunged after the chipmaker 澳洲幸运5官方开奖结果体彩网:warned about current quarter proꦅfit and sales, citing weakness in some of its subsidia🔯ries and the company’s programmable&nbꦕsp;chip unit. 

Lower-than-expected guidance sent shares of KLA Corporation (KLAC) sinking, as the semiconductor equipment maker said it faced a challenging ma🔥rket enಌvironment.

Norfolk Southern (NSC) shares declined as the railroad cut 7% of its non-union workforce 🍷because of macroeconomic conditions and a weak freight market.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

𝔍ඣLevi Strauss Plans to Cut As Much as 15% of Global Staff

Levi Strauss & Co. (LEVI) shares 澳洲幸运5官方开奖结果体彩网:gave up early gains Friday after the denim maker announced plans to cut between 10% and 15% of its workforce.

The layoffs are expected to take place in the first half of 2024, with restructuring charges estimated at between $110 million and $120 million in the first quarter. Levi Strauss has about 5,000 corporate employees and roughly 20,000 workers globally.

Levi Strauss's net income fell 57% to $250 million in 2023 from 2022, with revenue stagnant at $6.2 billion, the same as fiscal 2022. The famed jeans maker struggled to recover from an 澳洲幸运5官方开奖结果体彩网:inventory glut in 2023 as cost-conscious consumers, squeezed by 澳洲幸运5官方开奖结果体彩网:inflation, turned away from traditional wholesale channels, offsetting gains from the direct-to-consumer (DTC) business.

Levi Strauss shares were 0.3% lower at $15.70 midday Friday, after jumping more than 10% in early trading. They're down more than 11% over the past year.

-澳洲幸运5官方开奖结果体彩网:Fatima Attarwala

Visa Beats Earnings Estim🌜ate on Robust Consumer Spending

Visa shares (V) slipped Friday despite its 澳洲幸运5官方开奖结果体彩网:first-quarter results beating analyst expectations 💫bolstered by credit card transaction volumes due to robust consumer spending.

Net income of $4.9 billion, or $2.39 per diluted share, was up versus the $4.7 billion or $2.31 per share analyst consensus compiled by Visible Alpha. Revenue of $8.6 billion for the three months ending December was up by 9%.

"Our 2024 fiscal year is off to a solid start. In our first quarter, net revenues grew 9% and GAAP EPS grew 20%, driven by relatively stable growth in overall payments volume and processed transactions, plus strong growth in cross-border volume," said Visa CEO Ryan McInerney in a prepared statement.

Still, payment volume growth decelerated in the first quarter and into J🔯anuary, sending the stock ♑down more than 1% in early trading.

-澳洲幸运5官方开奖结果体彩网:Mrinalini Krishna

Intel Stock Slides Amid Grim First Quarter Outlook—Key Pri𓆏ce Levels to Watch

Despite delivering better-than-expected fourth-quarter results, Intel (INTC) shares were down sharply before the opening bell Friday after the 澳洲幸运5官方开奖结果体彩网:chipmaker issued a grim outlook for the current quarter. The company projects first-quarter 澳洲幸运5官方开奖结果体彩网:adjusted earnings to come in at 13 cents per share on revenue of between $12.2 billion and $13.2 billion, falling well short of Wall Street’s expectations.

Intel CEO Pat Gelsinger said that although the chipmaker’s core businesses of PCs and servers remain healthy, sales in the current quarter would come under pressure from weakness in several of its 澳洲幸运5官方开奖结果体彩网:subsidiaries and the company’s programmable chip unit.

“The core business we see as healthy. We see no areas for market share loss and the products are getting stronger,” Gelsinger told analysts during 澳洲幸运5官方开奖结果体彩网:the earnings call. The Intel chief also noted that the company has AI chip orders worth $2 billion and said he𓆉 anticipates sal✅es to improve later this year.

Intel shares broke out from a nine-month 澳洲幸运5官方开奖结果体彩网:ascending channel in mid-December but have subsequently failed to gain further upside momentum. Investors on Friday should monitor where the stock closes in relation to its 50-day moving average. A close below the indicator would confirm a 澳洲幸运5官方开奖结果体彩网:head and shoulders topping pattern, opening the door for a fall to the channel’s lower 澳洲幸运5官方开奖结果体彩网:trendline. Conversely,🎉 a successful hold of the indicator could see bulls make another attempt at a 💃move higher.

-澳洲幸运5官方开奖结果体彩网:Timothy Smith

Stocks Making the Biggest Moves Premarket

Gains:

• Coinbase Global (COIN): Shares of the cryptocurrency exchange rose more than 3% as the price of Bitcoin rose and analysts at Oppenheimer upgraded the stock to “buy,” citing improving fundamentals, benefits from Bitcoin ETFs, and a 35% pullback in the stock’s price over the last month. 
• Snap Inc. (SNAP): The social media company’s shares rose 3% after Deutsche Bank upgraded the stock to “buy,” citing an expected revenue boost from a new partnership with Amazon and a rebuilt ad platform. 
• American Express (AXP): Shares climbed about 1% after the credit card company’s 2024 earnings forecast came in ahead of Wall Street estimates. 
  

Losses:

• Intel Corp. (INTC): Shares of the chipmaker tumbled 9% after offering a 澳洲幸运5官方开奖结果体彩网:grim current-quarter forecast as sales at subsidiaries and its programmable chip business come under pressure.
• Visa Inc. (V): Shares of the payments company fell 3% after reporting transaction volumes declined last quarter and in the first three weeks of January. 
• T-Mobile US Inc. (TMUS): Shares of the telecom fell about 2% after its quarterly earnings missed analysts’ estimates despite beating on the top line. 

Stock Futures Slip Ahead of PCE Report

Futures contracts connected to the Do💯w Jones Industrial Average were 0.1% lower in premarket trading.

S&P 500 futures also slipped slightly.

Na♏sdaq 100 contracts were down about 0.3% an hour before m🎉arkets opened.