Discover, Taiwan Semi, Boeing, Apple, Plug Power, and More Stock Market Movers
Stock futures pointed to a mostly higher start for Wall Street on Thursday following a down day that was spurred by a strong U.S. retail sales report that had investors dialing back expectations for how aggressive the Federal Reserve might be in cutting interest rates this year.
was falling 10% after reporting that its charge-off rate—the percentage of outstanding debt that credit card issuers write off as a loss—rose to 4.11% in the fourth quarter, up from 2.13% a year earlier. Discover also said its provision for credit losses at the end of the quarter was $1.9 billion, up $1 billion from a year earlier, driven by the increase in net charge-offs and a higher reserve build. Fourth-quarter earnings at Discover also missed analysts’ estimates.
Taiwan Semiconductor Manufacturing
reported fourth-quarter profit that fell 19% from a year earlier but still topped analysts’ expectations. Revenue in U.S. dollars fell 1.5% in the quarter to $19.62 billion but rose but 13.6% from the third quarter. U.S.-listed shares of the Taiwan-based chip maker were up 4%.
again has been banned from selling current versions of the
Watch with blood oxygen sensors in the U.S. in connection with a patent-infringement case filed against the tech giant by medical device maker
Masimo
.
Apple shares slipped in premarket trading.
was up 0.4%.
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reported a narrower-than-expected adjusted loss in the fourth quarter and a revenue decline of 2.5% to $2.6 billion, which just edged estimates. The aluminum-products maker said it expects lower production in 2024. The stock was down 0.4%.
rose 1.6%. India’s newest airline, Akasa Air, has ordered 150
737 MAX planes. Akasa will be purchasing 737-10 airplanes and 737-8-200 jets. The order doesn’t include the 737 MAX 9, which has been grounded by the Federal Aviation Administration following an incident on an Alaska Airlines flight earlier this month.
fell 14% to $2.34 after disclosing in a filing that it will be selling up to $1 billion of shares. The clean-energy company said it entered into an at-the-market issuance sales agreement with B. Riley Securities that would allow it to sell up to $1 billion in common stock.
Sheryl Sandberg said she plans to leave the board at
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Sandberg, who resigned as the company’s chief operating officer in 2022, said in a post on Facebook she wouldn’t be standing for reelection at the annual shareholder meeting in May. Shares of Meta, which owns Facebook and Instagram, was up 0.3%.
LiveRamp
,
the data-software company, said it expects to report fiscal third-quarter revenue of $174 million, up 10% from a year earlier and higher than the company’s previous guidance of $165 million.
also said it would be acquiring acquire Habu, a data clean room software provider, in a cash-and-stock deal valued at about $200 million.
Earnings reports are expected Thursday from
Fastenal
,
KeyCorp
,
and
Write to Joe Woelfel at [email protected]
…
Read More: Discover, Taiwan Semi, Boeing, Apple, Plug Power, and More Stock Market Movers