Alaska Air impressed investors by reporting adjusted earnings of 97 cents per share, far surpassing the 47 cents per share analysts had projected. This earnings beat sent Alaska Air's stock climbing approximately 2.1% higher. Meanwhile, Union Pacific also delighted market watchers with its performance, posting adjusted earnings of $3.84 per share on revenue of $45 billion, outpacing the FactSet consensus of $44.92 billion.
GE Aerospace shone in the fourth quarter, delivering an earnings and revenue beat. The company reported adjusted earnings of $1.32 per share and revenue of $9.88 billion, both figures exceeding analyst expectations. In contrast, Electronic Arts struggled, citing underperforming games, including its soccer franchise, for falling short of financial targets. The company subsequently reduced its net bookings guidance for both the third quarter and the full year.
In a concerning development for investors, Alcoa's shares fell by 1.1% after CEO William Oplinger remarked that U.S. tariffs on Canadian imports could raise aluminum costs by $1.5 billion to $2 billion annually. Alcoa, the largest U.S. aluminum producer, faces increased financial pressures from these tariffs.
American Airlines offered a disappointing outlook for the first quarter, adding to investor concerns about the airline sector's near-term prospects. Similarly, Plexus adjusted its revenue expectations downward, forecasting a range of $960 million to $1 billion, below the $1.02 billion analysts had anticipated.
Elevance Health provided some positive news by beating fourth-quarter expectations with earnings of $2.91 per share. This performance underscored the company's resilience in a challenging healthcare market.
Guidewire Software captured attention after its stock surged by 11.5%, following Goldman Sachs' initiation of coverage with a buy rating. This positive analyst sentiment contributed to a notable uptick in Guidewire's stock value.
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