Stock futures signaled a higher opening after Wall Street’s fourth straight day of declines on Thursday.
S&P500.
taiwan semiconductor manufacturing
,
Major supplier to Nvidia and Apple
,
The company reported first-quarter profits rose 8.9% year-over-year, beating analysts’ expectations. Quarterly sales (in US dollars) increased 13% to $18.87 billion. TSMC forecast second-quarter sales of $19.6 billion to $20.4 billion. Shares of the world’s largest third-party semiconductor chip maker were up 0.7% in premarket trading.
Alcoa reported an adjusted loss of 81 cents per share in the first quarter, which was larger than expectations for a loss of 64 cents. The company said the results reflected lower third-party average realized prices for aluminum and higher production costs. Sales fell 2.7% to $2.6 billion, but exceeded expectations. “The market is starting to look really favorable for the company,” CEO William Oplinger said. Barons. “Aluminum prices are rising on strong demand.” Alcoa shares rose 3.1%.
Railroad operator CSX’s first-quarter profit was 46 cents per share, down from 48 cents a year earlier, but above analyst expectations. Sales for the period decreased 1% to $3.68 billion. “Lower fuel surcharges, lower other revenues, weaker trucking revenues and lower export coal prices offset higher commodity prices and increases in intermodal and coal volumes,” CSX said. Stated. The stock price rose 2.9%.
Advertisement – SCROLL TO CONTINUE
Las Vegas Sands’ first-quarter earnings were 66 cents per share, up from 19 cents a year earlier. Adjusted earnings were 75 cents per share, beating Wall Street expectations of 62 cents. The casino company announced that revenue rose nearly 40% to $2.96 billion. Las Vegas Sands said it has seen significant growth in Macau and Singapore. Las Vegas Sands stock fell 1.5%.
Equifax had forecast second-quarter sales of $1.41 billion to $1.43 billion, which fell short of expectations. The company said it is maintaining its 2024 outlook, which reflects an expected 11% decline in U.S. mortgage credit reporting. Shares of the consumer credit reporting agency fell 5.6% in premarket trading.
Duolingo was up 7.3% in pre-market trading after it was announced on April 22 that the stock would be added to the S&P MidCap 400.Language learning service provider to replace Cable One
,
This moves to the S&P SmallCap 600.
Trump Media & Technology Group
Advertisement – SCROLL TO CONTINUE
Shares rose 1.5% in premarket trading. Shares of Truth Social Platform’s parent company rose 16% on Wednesday, marking its best single-day performance since March 26, after falling nearly 30% in the previous two sessions.
An earnings report is expected to be released by Netflix on Thursday.
,
intuitive surgery
,
black stone
,
Elevance Health
,
DR Horton
,
PPG Industries
,
genuine parts
,
key corp
,
Ally Financial
,
and Alaska Airlines
.
Netflix rose 0.6% in premarket trading ahead of its first-quarter earnings report scheduled after Thursday’s close. For the quarter, the company expects sales to rise 13.2% year over year to $9.24 billion and earnings per share to be $4.49. Wall Street expects the company to report revenue of $9.27 billion, earnings of $4.51 per share and net additions of 5.1 million subscribers for the current period.
Email Joe Weelfel at joseph.woelfel@barrons.com.
