Intel Slumps After Lowering Q1 Guidance
Intel, the chipmaker, saw its stock drop over 10% after issuing lower-than-expected guidance for the first quarter. The company now anticipates revenue between $12.2 billion and $13.2 billion, falling short of analysts’ forecast of $14.16 billion.
American Express Tops Full-Year Guidance
American Express shares rose by 3% after the company released full-year guidance that exceeded expectations, despite weaker-than-anticipated fourth-quarter results. American Express expects earnings per share between $12.65 and $13.15, surpassing the StreetAccount consensus estimate of $12.38 per share.
T-Mobile Posts Mixed Q4 Results
Telecommunications company T-Mobile experienced a 2% decline in its stock after reporting mixed fourth-quarter results. While revenue of $20.48 billion exceeded the forecast of $19.67 billion, earnings per share fell short at $1.67 compared to the expected $1.91.
Western Digital Shares Fall Despite Strong Outlook
Western Digital shares dropped approximately 4% despite beating revenue expectations, reporting a smaller loss per share than anticipated, and providing a positive fiscal third-quarter outlook. The company’s loss of 69 cents per share on $3.03 billion in revenue outperformed analysts’ predictions of a $1.13 loss per share and $2.99 billion in revenue.
KLA Corporation Issues Light Q3 Guidance
Semiconductor equipment maker KLA Corporation saw a 4% decline in its stock after releasing weak fiscal third-quarter guidance. Although the company surpassed Wall Street’s earnings and revenue expectations for the recent quarter, it experienced a profit decline compared to the previous year.
Visa’s Stock Drops Despite Quarterly Beat
Visa’s stock fell by 3% even after the company exceeded quarterly estimates. However, Visa adjusted its expenditure guidance higher and reported a slowdown in payment volumes for January.
Snap Receives Upgrade from Deutsche Bank
Snap’s shares rose by 3% after Deutsche Bank upgraded the stock from hold to buy. The bank cited a “clear, strong catalyst path towards upwards revenue and EBITDA revisions” and raised the target price to $19 from $10.
Levi Strauss Reports Weak Q4 Revenue
Denim maker Levi Strauss saw its shares drop nearly 2% in premarket trading following weaker-than-expected fourth-quarter revenue. The company also announced plans to lay off 10% to 15% of its global corporate workforce due to anticipated weaker sales this year.
Coinbase Gains on Bitcoin Price Increase
Crypto services company Coinbase experienced a more than 4% increase in its stock due to a rise in bitcoin prices. Additionally, Oppenheimer upgraded the stock from perform to outperform, based on positive upcoming catalysts.
Colgate-Palmolive Reports Slight Beat
Household and consumer products maker Colgate-Palmolive posted fourth-quarter results that slightly exceeded Wall Street’s estimates. The company reported adjusted earnings of 87 cents per share on $4.95 billion in revenue and expects net sales growth of 1% to 4% for the full year.
Capital One Financial Earnings Decline in Q4
Financial stock Capital One fell over 1% after reporting a decline in earnings for the fourth quarter. The company earned $1.67 per share, below the $4.45 in the previous quarter and $3.03 in the same period last year. A special assessment from the Federal Deposit Insurance Corporation contributed to the decline.
Hot Take: Mixed Performance for Tech and Financial Stocks
In premarket trading, several tech and financial stocks experienced mixed results. While some companies, like American Express and Coinbase, exceeded expectations and received positive upgrades, others, such as Intel and Levi Strauss, faced challenges with lower guidance or weaker revenue. The overall performance of these stocks reflects the volatility and uncertainty in the current market conditions.
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