During Market hours yesterday (Tuesday – 01.02.2022):

  • The Dow (Symbol: DIA) went up 0.81%. The S&P 500 (Symbol: SPY) rose 0.68% and the Nasdaq (Symbol: QQQ) gained 0.68%.
  • Exxon Mobil (Symbol: XOM) — Exxon shares advanced 6.5% after the company’s fourth-quarter profit topped analysts’ estimates. The oil giant earned $2.05 per share on an adjusted basis, which was ahead of the $1.93 analysts surveyed by Refinitiv were expecting. Revenue came in at $84.97 billion, which was below the expected $91.85 billion. The company said it paid down $9 billion in debt during the period, bringing its debt level to prepandemic levels.
  • UPS (Symbol: UPS) — Shares of the delivery company surged 14% following the company’s fourth-quarter results and upbeat guidance. The company earned an adjusted $3.59 per share, while analysts surveyed by Refinitiv were expecting $3.10. Revenue also topped expectations, and UPS announced a 49% dividend increase.
  • AMC Entertainment (Symbol: AMC) — Shares of the movie theater chain rose 5% after the company announced fourth-quarter preliminary results that topped expectations. AMC said it was able to cap off 2021 with “the strongest quarter in two years,” which was led by movies like “Spider-Man: No Way Home.”
  • AT&T (Symbol: T) — Shares of AT&T fell 4.3% after the telecom company announced it will spin off WarnerMedia in a $43 billion merger with Discovery. AT&T also said it will cut its dividend by nearly half.
  • Cirrus Logic (Symbol: CRUS) — Shares of the semiconductor company fell 7.3% despite beating on the top and bottom lines of its quarterly results. The company also gave strong fiscal fourth-quarter revenue guidance.

During Premarket hours today (Wednesday – 02.02.2022):

  • Boston Scientific (Symbol: BSX) — The medical device maker’s stock slumped 3.5% in premarket trading after the company reported a weaker-than-expected outlook. Boston Scientific did beat top and bottom-line estimates for its latest quarter, earning an adjusted 45 cents per share compared with a 44-cent consensus estimate.
  • Alphabet (Symbol: GOOGL) — Alphabet surged 10% in the premarket following a blowout earnings report as well as the announcement of a 20-for-1 stock split. Alphabet earned $30.69 per share for the fourth quarter, compared with a consensus estimate of $27.34, while revenue also topped forecasts as digital ad sales surged.
  • General Motors (Symbol: GM) — GM came in 16 cents above estimates with adjusted quarterly earnings of $1.35 per share, although the automaker’s revenue came in short of Wall Street projections. GM issued an upbeat 2022 forecast and said it would move to accelerate its efforts to produce and market electric vehicles. GM rose 3.3% in premarket action.
  • Starbucks (Symbol: SBUX) — Starbucks fell 8 cents short of estimates, reporting an adjusted quarterly profit of 72 cents per share, though revenue came in above estimates. The coffee chain said its bottom line was impacted by higher costs for commodities and labor, a situation it said will persist in the coming months. Starbucks slid 2.8% in the premarket.
  • PayPal (Symbol: PYPL) — PayPal plunged 16.8% in the premarket after it missed bottom-line forecasts and issued a weaker-than-expected current-quarter outlook. PayPal missed consensus forecasts by a penny with adjusted quarterly earnings of $1.11 per share, though the payment service’s revenue beat estimates. PayPal results are taking a hit from former parent eBay’s ongoing transition to other methods of payment. Rival Block (Symbol: SQ), the company formerly known as Square, tumbled 6.9% in the wake of PayPal’s report.
  • Advanced Micro Devices (Symbol: AMD) — AMD beat estimates by 16 cents with an adjusted quarterly profit of 92 cents per share, while the chip maker’s revenue also topped forecasts. AMD also forecast better-than-expected full-year revenue on continued strong demand for its data center chips. AMD shares surged 12% in premarket trading.

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