Shares of data storage manufacturer Seagate (NASDAQSTX)
jumped 9.2% in the morning session after the company reported fourth-quarter results that blew past analysts' EPS expectations, while revenue was roughly in line. On the other hand, its revenue and EPS guidance for the next quarter fell below consensus estimates, indicating expectations were on the high side ahead of the earnings release. However, taking a closer look at the results, top-line growth accelerated during the quarter, up 49.5% y/y, driven by what management considers "structural improvements in the business and our focus on value capture in an improving demand environment," including some of the company's AI bets. Overall, this was a mixed yet decent quarter.
Shares of digital imaging and instrumentation provider Teledyne (NYSETDY) jumped 6.9% in the morning session after the company reported fourth-quarter results, which exceeded analysts' revenue and EPS estimates. Sales benefited from acquisitions and improved demand for TDY's unmanned air systems, surveillance systems, and commercial infrared imaging systems. On the other hand, its EPS guidance for next quarter missed, and its full-year EPS guidance fell slightly short of Wall Street's estimates. Overall, this was still a decent quarter.
Shares of streaming video giant Netflix (NASDAQNFLX)
jumped 15.4% in the pre-market session after the company reported impressive fourth-quarter results, which blew past analysts' global streaming paid memberships expectations, with a strong net add figure (18.9 million vs. estimates of 9.8 million). This led to a revenue and EPS beat in the quarter. Additionally, revenue guidance for 2025 beat expectations, and the company spoke optimistically about multiple vectors such as ad revenue, live events, and new content. Netflix's decision to increase pricing on certain subscription plans also reflects management's confidence in its content's quality and suggests potential benefits for both sales and profitability. Overall, this quarter was strong.
SLB and Star Energy Geothermal have teamed up to advance geothermal technology, focusing on improving project efficiency and recovery rates. This partnership combines Star Energy Geothermal's expertise with SLB's energy technology solutions.
Pillow Cube has partnered with OnTel Products to broaden the distribution of its Kid Cube pillow, designed specifically for children. This collaboration aims to make the innovative sleep solution more accessible to families nationwide.
Fourth-quarter revenue in its largest segment, Completion and Production, fell by 4.2% compared to last year. The company also forecast softer 2025 activity in North America.
Teledyne Technologies reported Q4 results with sales growth of 5.4% and solid cash from operations and free cash flow in FY24. Q1 adjusted EPS expected at $4.80-$4.90.
JPMorgan initiates coverage of SNCY with Overweight rating and $23 target. Charter and Cargo ops contribute 33% of revenues, diversifying demand drivers.
Standard Chartered‘s Geoffrey Kendrick on Wednesday cautioned that digital asset prices are poised for a potential 10-20% correction as “hope” that is currently driving the market
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