Bitcoin, a major player in the cryptocurrency market, remains approximately 20% off its all-time high that was reached during President Donald Trump's inauguration. Meanwhile, Chegg has taken legal action against Google, alleging that the tech giant’s artificial intelligence summaries are negatively impacting Chegg's web traffic and revenue. In corporate earnings news, Keurig Dr Pepper has reported robust quarterly results, while other companies such as Cleveland-Cliffs and Tempus AI have faced setbacks.
Keurig Dr Pepper posted impressive quarterly adjusted earnings of 58 cents per share on revenue totaling $4.07 billion. The company's shares rose nearly 3% following the announcement, as both earnings and revenue exceeded expectations for the fourth quarter. In contrast, Cleveland-Cliffs reported a wider-than-expected loss of 92 cents per share for the fourth quarter, surpassing the anticipated loss of 61 cents.
Home Depot saw a modest gain of 1% after releasing its fourth-quarter financial results. However, the company anticipates a slight decline in adjusted earnings per share by 2% from the previous year. Tempus AI experienced a significant setback, with shares slipping 14% after announcing a 24% year-over-year decline in revenue for the fourth quarter. The company's revenue fell short of market expectations, contributing to the drop in share value.
Zoom Communications also faced challenges, with its shares declining by 4% after providing revenue guidance that did not meet market predictions. Chegg posted a net loss of $6.1 million on revenue of $143.5 million for the fourth quarter, prompting legal action against Google over alleged impacts on their business.
Krispy Kreme struggled in the fourth quarter, missing expectations and seeing shares pull back over 18%. In contrast, Eli Lilly made headlines by launching higher dose vials of its weight loss drug Zepbound at a reduced price for self-pay patients via its direct-to-consumer platform. The company projects full-year revenue between $4.79 billion and $4.8 billion.
Li Auto outperformed with revenue figures reaching $39.7 billion, surpassing the consensus estimate of $39.16 billion. The company's strong financial performance stands out amidst a backdrop of mixed results from various sectors.
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