CSX Corporation's shares fell 3.5% after announcing a drop in revenue due to decreased fuel surcharges and a decline in coal revenue for the last quarter. Meanwhile, Boeing's stock slipped 1.3% following preliminary fourth-quarter results that reveal ongoing financial struggles. Texas Instruments saw its shares slump 4% after forecasting earnings that failed to meet analysts' expectations, despite having surpassed projections for both earnings and revenue in the recently ended quarter.
Boeing likely burned through approximately $3.5 billion in cash during the quarter, partly attributed to a labor strike and a new workforce agreement. The company anticipates a fourth-quarter loss of $5.46 per share on revenue of $15.2 billion, falling short of analysts' expectations as per LSEG estimates.
In contrast, Novo Nordisk's U.S.-listed shares surged by 14%. The Danish pharmaceutical company reported promising results from an early-stage trial of its once-weekly amycretin obesity drug. The trial indicated an average weight reduction of 22% in obese and overweight patients after 36 weeks.
Texas Instruments, while beating Street expectations for earnings and revenue in the last quarter, issued a lackluster profit forecast for the current quarter. The company projects profits ranging from 94 cents to $1.16 per share, slightly below analysts' average estimate of $1.17 per share according to LSEG. The company's revenue of $3.54 billion also marginally missed the $3.56 billion forecast by FactSet.
Twilio took the market by surprise with an optimistic outlook at its recent investor event, resulting in an impressive rally of nearly 18% in its shares. The company forecasts its adjusted operating margin to climb as high as 22% by 2027, surpassing Wall Street consensus and improving upon last quarter's 16.1%. This positive projection led Baird to upgrade Twilio from neutral to outperform, expressing confidence ahead of the fourth-quarter results.
Conversely, Intuitive Surgical's shares fell 2% following a forecast for 2025 indicating a potential contraction in a key profit margin. The company now expects an adjusted gross profit margin between 67% and 68% in 2025, down from the previous year's 69.1%.
CSX posted earnings of 42 cents per share, aligning with analysts' expectations as surveyed by FactSet. Despite meeting these projections, the company's shares experienced a dip due to the reported decline in revenue.
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