In a bustling day of trading, several major companies made significant moves in the stock market, influenced by a mix of earnings reports and strategic announcements. Mattel led the pack with a remarkable 14% climb following better-than-expected fourth-quarter results. Meanwhile, Johnson Controls International surged 12% as its earnings impressed investors. Apple, however, saw a decline of 1% amid news of a potential investigation into its App Store fees and practices.
Match Group's shares fell by more than 7% after revealing its fourth-quarter results, disappointing investors. Uber Technologies also faced a downturn, with shares dropping 7% due to an earnings miss and soft future guidance. The ride-hailing giant reported adjusted earnings per share (EPS) of 23 cents for the fourth quarter, falling short of analysts' expectations of 50 cents per share.
FMC Corporation issued a forecast for adjusted earnings ranging from 5 to 15 cents per share, far below the 77 cents anticipated by analysts polled by FactSet. In contrast, Electronic Arts reported better-than-expected quarterly results, with shares rising over 5%.
Toyota Motor made headlines with its announcement of plans to establish a new company in China focused on electric vehicle production, boosting its U.S. listed shares by approximately 4%. Novo Nordisk also posted impressive results, with a net profit of 28.23 billion Danish kroner, surpassing the 26.09 billion forecast by FactSet analysts.
Harley-Davidson faced challenges as it reported a larger-than-expected loss, causing its stock to slip by 1.3%. Meanwhile, Alphabet's fourth-quarter revenue reached $96.47 billion but fell just short of the $96.56 billion expected by analysts polled by LSEG.
Advanced Micro Devices (AMD) delivered strong performance with better-than-expected revenue and profit for the fourth quarter, reporting adjusted earnings of $1.09 per share on revenue of $7.66 billion. Similarly, Chipotle Mexican Grill exceeded expectations with adjusted earnings of 25 cents per share in its fourth quarter, slightly above the 24 cents estimated by analysts surveyed by LSEG.
In another notable move, Workday advanced 5% after announcing a restructuring plan to reduce its workforce by 8.5%, which was positively received by investors.
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