New York, February 02, 2024 - PRISM MarketView - Take a glance at the key sways in premarket trading:
Meta’s shares rocketed by 17% following the revelation of their fourth-quarter profits tripling and the announcement of their inaugural dividend. EPS stood at $5.33, beating LSEG’s expected $4.96. Revenue also surpassed expectations at $40.11 billion.
Amazon shares spiked nearly 7% following an earnings and revenue surge in the fourth quarter. Their Q4 earnings were $1 per share, surpassing the 80 cent expectation, with revenue reported at $169.96 billion, beyond the $166.21 billion projection.
Following an earnings beat, Bristol-Myers Scquibb noted a 2.4% increment in shares. The pharmaceutical company’s Q4 earnings were $1.70 on revenues of $11.48 billion, outpacing LSEG’s estimates.
Chevron’s shares saw a marginal climb after reporting diverse earnings and hiking its dividend by 8% for the fourth quarter. Adjusted EPS were $3.45, surpassing the $3.21 predicted by LSEG.
Following a stellar fiscal third-quarter earnings report, Deckers Outdoor saw a 10% bump in share value. They reported fiscal Q3 EPS of $15.11, dwarfing LSEG’s expected $11.48. Revenue also surpassed the consensus at $1.56 billion.
Exxon Mobil saw a marginal decline in shares despite an earnings beat for the fourth quarter. They reported EPS of $2.48, exceeding LSEG’s expected $2.21. However, weaker oil prices led to a 40% dip in YoY net income.
Skechers shares took a 9% fall post the unveiling of their mixed Q4 results and conservative full-year guidance. Guidance for 2024 estimated revenue between $8.6 billion and $8.8 billion and earnings between $3.65 and $3.85 per share, falling short of LSEG’s forecast.
Apple’s shares sank by 3% post the hint of weak iPhone sales in their Q1 guidance, despite beating Q4 earning expectations with an EPS of $2.18.
Clorox saw a 7% spike in share value after an earnings and revenue beat for Q2. Clorox reported adjusted earnings of $2.16 per share on revenues of $1.99 billion, exceeding LSEG’s expectations.
Despite hitting analysts’ revenue estimates, Microchip Technology’s shares saw a 3% decline following a weak Q4 fiscal outlook.
Cigna’s shares added 3.6% in value following a Q4 earnings beat and nearly 14% dividend raise. Their full-year revenue outlook also surpassed the consensus estimate.
Mattel saw nearly a 3% surge in share value after reports of activist investor Barington Capital acquiring stakes in the company and pushing for changes to increase Mattel’s stock value.
Sea Limited’s shares rose 1.6% following a positive report from Citi, which upgraded the company to “buy” from “neutral” and suggested more than a 20% climb for U.S-listed shares.
PRISM MarketView does not provide investment advice.
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Phone: 646-863-6341
Website: https://prismmarketview.com
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