D.R. Horton has delivered a fiscal fourth quarter performance that surpassed expectations, reporting earnings per share of $2.61 on revenue of $7.61 billion. This beat the analysts' predictions from LSEG, who anticipated earnings of $2.36 on $7.08 billion in revenue. The positive surprise led to a 4.5% increase in D.R. Horton's shares.
In the tech sector, Apple shares experienced a downturn, slipping nearly 2% following a downgrade by Jefferies to an underperform rating. Jefferies maintains that Ulta is poised for growth within the expanding beauty industry, potentially gaining market share. Meanwhile, Qorvo might be on the verge of an earnings recovery, with activist investor Starboard Value acquiring a stake in the company.
Electric vehicle stocks in China witnessed an uptick after the postponement of tariffs by former President Trump. XPeng's shares rose by 6%, while Li Auto saw a 5.4% increase. General Motors also experienced a positive shift, with its stock rising 1.2% after Deutsche Bank upgraded it from hold to buy, citing that potential downsides under a second Trump administration had been accounted for in the stock's valuation.
3M reported adjusted profits of $1.68 per share, narrowly surpassing the average estimate of $1.66 by analysts polled by LSEG. Additionally, Vistra's stock jumped 4.6% following the official confirmation that firefighters extinguished a fire that had been burning since Thursday.
In other developments, Roku gained 2.3% after JMP Securities initiated coverage with an outperform rating. Conversely, Trump Media & Technology Group's shares fell 6.7% a day after Donald Trump was inaugurated as the 47th president of the United States.
Recent months have seen an uptick in bird influenza cases across the U.S., creating concerns among health officials and the agriculture sector.
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