[ad_1]
Check out the companies making headlines in midday trading. Netflix – The streaming stock popped nearly 13% after topping fourth-quarter revenue estimates and posting strong subscriber growth. Late Tuesday, Netflix said it added 13.1 million subscribers during the period, bringing its total membership tally to 260.8 million. That’s ahead of the 256 million expected by analysts polled by StreetAccount. ASML — The semiconductor equipment stock rallied more than 10%. ASML posted fourth-quarter results that surpassed Wall Street’s expectations on the top and bottom lines. Net sales also rose 12.5% year over year. AT & T — The telecom stock fell 3%. Revenue topped expectations and AT & T added more subscribers than anticipated, but the company forecasted lower-than-expected adjusted earnings for 2024. Advanced Micro Devices — The chip stock popped 6.7% after being upgraded by New Street Research to buy. The firm thinks AMD is the best way to play datacenter artificial intelligence chips if the chipmaker’s forecast of a $400 billion addressable market by 2027 bears out. Spotify — Spotify’s stock rose 3%. The company said Wednesday it will update its iPhone app in Europe to enable users to purchase in-app subscriptions and audiobooks. Texas Instruments — Shares fell 2% on the back of the company’s weak forward earnings and revenue guidance. On Tuesday, Texas Instruments forecasted first quarter earnings to fall between 96 cents and $1.16 per share, versus consensus estimates of $1.41 per share per LSEG. Revenue is also expected to come in lower, in a range of $3.45 billion to $3.75 billion, compared to estimates of $4.06 billion. The company reported an earnings beat in the fourth quarter, but missed on bottom lines. SAP — The German software stock surged 7%. SAP on Tuesday said it plans to carry out voluntary buyouts or allow job changes for 8,000 employees as part of a broader restructuring effort. The company said its headcount should remain the same at the end of the year. DuPont de Nemours — The chemical stock tumbled nearly 12% after DuPont preannounced fourth-quarter results that came below analyst expectations. The company guided for fourth-quarter revenue of $2.90 billion, under the $3 billion expected by analysts surveyed by FactSet. DuPont also issued weak first-quarter guidance, calling for adjusted earnings of between 63 cents to 65 cents per share was also below the current expectation of 88 cents. Kimberly-Clark — Shares of the consumer products company fell more than 4% after Kimberly-Clark’s fourth-quarter results came in below expectations. The company reported adjusted earnings of $1.51 per share on $4.97 billion of revenue. Analysts surveyed by LSEG were expecting $1.54 per share on $4.98 billion of revenue. Kimberly-Clark’s operating margin fell year over year, due in part to currency exchange costs. Elevance Health — Shares added 1% after Elevance Health topped Wall Street’s expectations even as health insurance memberships came in below expectations. The company hiked its dividend by 10% and offered strong full-year guidance. Abbott Laboratories — The health care stock slipped 3.1% on the heels of the company’s earnings report. Abbott posted adjusted earnings that came in line with the consensus estimate of analysts polled by FactSet at $1.19 per share. Elsewhere, Abbott reported $10.24 billion in revenue for the quarter, surpassing the $10.19 billion figure anticipated by Wall Street. The firm also told investors to anticipate full-year adjusted earnings between $4.50 and $4.70 per share, a range that includes the $4.63 per share analyst forecast. — CNBC’s Michelle Fox, Hakyung Kim, Lisa Kailal Han, Alex Harring, Tanaya Macheel and Jesse Pound contributed reporting
[ad_2]
