Equity In✤dexes Wrap: Tech Weighs on the Nasdaq; Financials Boost the Dow

The Dow

Financials led the Dow higher, with JPMorgan Chase (JPM) adding 2.1% and Goldman Sachs (GS) climbing 1.7%. American Express (AXP) rose 1.6% and Visa (V) gained 1.3%.

Boeing (BA) slipped 2.3% after the company withdrew a request with the Federal Aviation Administration related to the expedited certification of its 7💙37 Max 7 jet.

Apple (AAPL) shares fell 1.🐼9% after an analyst with TF International Securities warned iPhon▨e sales could decline as much as 15% this year. 

Microsoft (MSFT) dipped 0.3% before reporting quarterly earnings after markets closed. 

The S&P 500

MSCI (MSCI) shares rose 9.3% after the company topped Wall Street sales and earnings estimates with its results and upped its 🅺quarterly divi🐷dend. 

General Motors (GM) climbed 7.8% after 澳洲幸运5官方开奖结果体彩网:beating expectations with its quarterly earnings, sales, and ful🐈l-year guidance. 

Sysco (SYY) jumped 7.5% after the food distributor posted 澳洲幸运5官方开奖结果体彩网:better-than-expected profit on higher volu♔mes and positive operating leverage. 

Nucor (NUE) added 6.9% after its fourth-quarter revenue and earnings topped estimates.&n𓂃bsp;

Marathon Petroleum (MPC) rose 6.1% after 澳洲幸运5官方开奖结果体彩网:handily beating Wall Street’s earnings and sales est𒁏imates.&꧂nbsp;

Danaher (DHR) also beat earnings estimates, sending its shares 4.﷽7% higher. 

United Parcel Service (UPS) was the Dow’s worst-performing stock, falling 8.2% after saying 澳洲幸运5官方开奖结果体彩网:fourth-quarter net income fell more than 50% from the year before. Competitor FedEx (FDX) slipped 1.7%. 

Oilfield services provider Schlumberger (SLB) fell 7.2% after Saudi Aramco, the world’s largest oil producer, 澳洲幸运5官方开奖结果体彩网:scrapped plans to expand production capacity. 

Whirlpool Corp. (WHR) lost 6.6% after offering 澳洲幸运5官方开奖结果体彩网:disappoint𓆏ing full-year earnings guidance. 

The real estate sector lagged, with office-focused REITs Alexandria Real Estate Equities (ARE) and Boston Properties (BXP) dropping 4.2% and 3%, respectively. 

The Nasdaq 100

Vertex Pharmaceuticals (VRTX) rose 2.4% after it said its experimen♔ꦛtal non-opioid painkiller met the main objective of a late-stage trial. 

Comcast (CMCSA) gained 1.2% following reports its British subsidiary Sky would cut 1,000 jobs, or about 4% of its workfor🤪ce. 

PDD Holdings (PDD) slipped 3.7%, adding𝓡 to yester♋day’s losses after an analyst note warned subsidiary Temu’s U.S. growth may have peaked. 

Sirius XM Holdings (SIRI) lost 3.2% after signing a $100 million, three-year dea𒐪🥂l to acquire the rights to Jason Bateman, Will Arnett, and Sean Hayes’s “SmartLess” podcast.

Advanced Micro Devices (AMD) also fell 3.2% after R💛aymond James downgraded the stock to “outperform” from “strong buy” after a run-up ahead of its quarterly earnings report after the bell Tuesday. 

Alphabet (GOOGL) fell 1.3% ahead of its quarterly earnings report after 😼the bell. 

Oilfield Service Stocks Tank After Saudi Aramco Halts Plans to Ramp ꦗUp Production

The government of Saudi Arabia has ordered oil giant Aramco to cap its oil production at 12 million barrels per day, 澳洲幸运5官方开奖结果体彩网:the world's largest oil producer announced on Tuesday.

The directive comes after growth in oil demand slowed last year to prepandemic levels. The International Energy Agency also said in its monthly report that growth is projected to ease to 1.2 million barrels a day in 2024 from 2.3 million barrels a day last year.

Shares of U.S. oilfield services providers tumbled Tuesday on the announcement. Schlumberger (SLB) fell more than 7%, while Baker Hughes (BKR) slipped 2%. Demand from international producers was one of the brightest spots in both companies' earning🤡s reports last week.

-澳洲幸运5官方开奖结果体彩网:Fatima Attarwala

What You Need To Know Ahead of Microsoft's Earnings on Tuesday

Tech titan Microsoft Corp. (MSFT), which last week became the 澳洲幸运5官方开奖结果体彩网:second company ever to reach a market capitalization of $3 trillion, is due to report its second-quarter fiscal 2024 earnings 澳洲幸运5官方开奖结果体彩网:after the market closes on Tuesday. Analysts expect Microsoft to post its highe♛st revenue in seven quarters and an uptick in EPS, while the company's AI-powered cloud services continue to soar.

Analysts forecast that Microsoft will announce net income of $20.6 billion, or $2.77 per share, compared with $17.4 billion and $2.20, respectively, in the prior-year quarter, accord𓆏🍌ing to data compiled by Visible Alpha.

The company is aܫlso expected to report total revenue of $61 billion, a nearly 16% impro🐠vement year-over-year and the sharpest increase in this area in close to two years.

Much of Microsoft's venture into AI is contained within its Intelligent Cloud segment, home to Azure, Nuance, Windows Server, and Enterprise Services, among other offerings.

Microsoft's Intelligent Cloud quarterly revenue, which has roughly doubled in the last three years, is expected to reach an all-time high of $25.3 billion in the latest quarter, according to Visible Alpha. This would represent a roughly 18% increase YOY.

-澳洲幸运5官方开奖结果体彩网:Nathan Reiff

Danaher Shares Climb Following Earnings Beat

Shares of Danaher (DHR) rose Tuesday after the life sciences and diagnostic✱s company reported better-than-expected fourth-quarter earnings despite declining sales. 

Revenue in each of its units—biotech, life sciences, and diagnostics—fell, bringing total sales to $6.4 billion. That still exceeded Wall Street Street estimates, however. Adjusted earnings of $2.09 per share were also lower than last year’s $2.54, but higher than the $1.89 analysts expected. 

The company forecast current-quarter sales would decline🍌 high-single digits on a year-over-year basis, while full-year sales would fall low-single digits.💫

“The combination of higher-than-expected revenues and our team's strong execution enabled us to exceed our margin and cash flow expectations in what remains a dynamic market environment,” said CEO Rainer M. Blair.

Blair also pointed to the compa🦩ny’s recent acquisition of Abcam and its spin-off of Veralto as drivers of future growth.🅰 

Danah⛦er shares were up about 4% at $243 Tuesday afternoon, bringinꦓg its twelve-month return to 4.4%.

Marathon Petroleum Gains on Better-Than-Expected 🍰Q4 Earnings

Marathon Petroleum (MPC) posted better-than-expected fourth-quarter results, beating analysts' expectations on both revenue and profit. The company's shares 𒊎were dow♏n slightly in early trading Tuesday.

Net income attributable to MPC came in at $1.45 billion, or $3.84 per diluted share, roughly half of what it was in the same period in 2022, albeit significantly higher than analysts' 𓂃𝕴expectations amid falling gasoline prices. Revenue fell 8% to $36.8 billion.

Marathon shares were up 5.3% at $168.20 Tuesday afternoon. The stock has gained more than 30% over the past 🦋year.

-澳洲幸运5官方开奖结果体彩网:Mrinalini Krishna

GM Stock Jumps as P💯rofit, Sales, 𝓡and Guidance Beat Estimates

General Motors (GM) shares 澳洲幸运5官方开奖结果体彩网:jumped in intraday trading Tuesday after the 澳洲幸运5官方开奖结果体彩网:Big Three automaker posted better-than-expected results for the fourth quarter and its full-year guidance beat forecasts.

GM reported fourth quarter 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $1.24 on revenue of $42.98 billion, down from EPS of $2.12 on revenue of $43.1 billion in the year-ago quarter. For 2023, the company reported EPS of $7.68, with revenue up 9.6% from 2022 to $171.84 billion. All were above estimates. The full-year gains came despite a 澳洲幸运5官方开奖结果体彩网:six-week strike by the United Auto Workers union that 💧cost the company $1.1 billion.

CEO Mary Barra wrote in a note to shareholders that GM sold more vehicles in the U.S. last year than any of its rivals, and sales of all of its brands rose.

GM said it anticipates full-year profit of $8.50ღ to $9.50 per share, above forecasts. 

The news sen♎t shares of General Motors up more than 7% to $38 Tuesday afternoon, putting them into positive territory for the past ꦅyear. 

-澳洲幸运5官方开奖结果体彩网:Bill McColl

UPS🧔 Stock Tumbles as Q4 Earnings Dragged🌄 by Lower Volume, Additional Charges

United Parcel Service's (UPS) fourth-quarter ꦏresults were weighed down by lower shipping volumes and additional charges. The company's shares fell mꩵore than 6% in pre-market trading.

Net income fell 54% compared to the year-earlier period, to $1.61 billion, or diluted earnings per share (EPS) of $1.87. The company reported a $512 million charge related to pensions, impairments and its Coyote truckload brokerage business that shaved off about 60 cents per share from earnings.

Adjusted diluted earnings per share came in roughly 32% lower than the year-ago quarter at $2.47, which was a shade better than the 澳洲幸运5官方开奖结果体彩网:analyst consensus compiled by Visible Alpha.

UPS also saw revenue s൲hrink 7.8% to $24.9 billion as average daily volumes contracted 7.4% for the domestic segment and 8.3% for the international business.

UPS shares were down 7.9% at $145.62 midday 🌳Tuesday, putting🍎 the stock down more than 19% in the past year.

-澳洲幸运5官方开奖结果体彩网:Mrinalini Krishna

Pfizer Stock Drops Despite Unexpect🅺ed Q4 Profit✨ Amid Lower COVID Product Sales

Pfizer Inc. (PFE)𓆏 delivered a surprise profit in the fourth quarter despite a doubl꧙e-digit contraction in revenue.

While 澳洲幸运5官方开奖结果体彩网:analysts expected wider quarterly losses, the company posted a surprise adjusted income of $593 million or 10 cents per diluted share. That's roughly 91% lower than the figures from the same period in the prior year.

Revenue contracted about 41% to $14.2 billion as demand for its COVID-related products—Comirnaty and Paxlovid—weakened further even. Taking those two products out of the mix, the company's revenues grew 8% or $934 million.

In 2024, the company hopes to capitalize on its non-COVID revenue streams further and reap some of the benefits from its 澳洲幸运5官方开奖结果体彩网:acquisition of Seagen. The company said it expects 2024 revenue in the range of $58.5 billion to $61.5 billion, including $3.1 billion from Seage🐻n and $8 billion from Comirnaty and Paxlovid.

Pfizer shares were more than 1🐼% lower on Tuesday morning, giving up earlier ga🍨ins.

-澳洲幸运5官方开奖结果体彩网:Mrinalini Krishna

PulteGroup Stock Gains as Jump꧋ in New Orders Overshadow🍸s Soft Q4 Sales

Shares of homebuilder PulteGroup (PHM) rose in early trading Tuesday after the homebuilder reported a surge in orde🐟rs for new homes, overshadowing its fourth-quarter revenue falling short of Wall Street’s expectations.

Pultegroup earned $711 million, or $3.28 per share, in the fourth quarter, down from $882 million, of $3.85 per share, in the prior-year quarter. The company sold 7,615 homes—fewer than expected—at an average price of $547,000, down from $561,000 a year ago. 

Home sales took a hit in the fourth quarter when the average rate on a 30-year mortgage surged to nearly 8%, its 澳洲幸运5官方开奖结果体彩网:highest level in two decades. High rates pushed plen𝕴ty of potential homebuyers to the sidelines and encouraged sellers to up concessions.

But with 澳洲幸运5官方开奖结果体彩网:mortgage rates moderating in the second half of the quarter, Pultegroup’s net new orders increased 57% to 6,214 homes valued at about $3.4 billion. The increase reflected a 澳洲幸运5官方开奖结果体彩网:better selling environment and a decrease in cancelations, which fell to 9% of backlog from 11% in the year-ago quar♉ter.&𒐪nbsp;

The company also announced its Board had authorized the company to🌞 repurchase an additional $1.5 billi♏on of shares, bringing its share repurchase total to $1.8 billion.

PulteGroup shares were up 2.4% at $108🍌.64 in early trading Tuesday. The stock has returned 109% in the past year, making it💦 one of the best-performing stocks in the S&P 500 over that period.

Stocks Making the Biggest Moves Premarket

Gains:

• Super Micro Computer Inc. (SMCI): Shares of the IT company jumped more than 11% after it blew past analyst estimates with its quarterly earnings and boosted its full-year sales guidance by more than 30% on strong AI demand.
• General Motors Co. (GM): Shares of the carmaker rose more than 6% after it topped Wall Street estimates on the top and bottom lines with its earnings report and forecast a strong 2024. 
• HCA Healthcare Inc. (HCA): The hospital and health care facility operator’s stock rose more than 4% after reporting better-than-expected quarterly earnings and announcing a $6 billion share repurchase program. 
  

Losses:

• United Parcel Service (UPS): Shares of the delivery company fell more than 6% after it said earnings declined more than 30% year-over-year in the fourth quarter, missing analyst estimates. 
• Whirlpool Corp. (WHR): The home appliance maker’s shares tumbled 6% after it forecast 2024 sales and earnings below Wall Street estimates as higher expenses and competition weigh on performance.
• JetBlue Airways Corp. (JBLU): Shares slid more than 5% after the airline forecast current-quarter revenue would fall as much as 9%, a greater drop than analysts were expecting. The downbeat forecast overshadowed higher-than-expected revenue and earnings in the fourth quarter. 

Stock Futures Fall on Day One of 🍌Firs🍷t FOMC Meeting of the Year

Futures contracts🤡 connected to the Dow Jones Industrial Average were down about 0.2% in prem💖arket trading on Tuesday.

S&P🎶 500 futures were also 0.2% lower about an hour before markets opened.

And Nasdaq 100 futures slid 0.2%.