However, the company was able to turn around, in part by increasing its share in ad spending on its networks during the World Cup soccer tournament and the U.S. ![]() Comcast said it lost 26,000 total broadband customers due to Hurricane Ian, which struck the Southeast coast in September. Shares of Comcast ( CMCSA) were flat after the media company reported fourth-quarter earnings that beat expectations with revenue of $30.55 billion. The flight board shows cancelled Southwest Airlines flights at Pittsburgh International Airport in Pittsburgh, Pennsylvania, U.S., December 29, 2022. Southwest slashed revenue projections for this year to $350 million as the company deals with ongoing cancellations and reduced bookings. Southwest Airlines ( LUV) shares traded down after the carrier announced a $220 million loss in the fourth quarter due to its holiday meltdown last month that led to thousands of flight cancellations. 6, 2021, insurrection comes at the start of the 2024 presidential campaign season.Įlsewhere in stock moves, American Airlines ( AAL) shares rallied Thursday after the company said it expects profit for this year to exceed forecasts as the industry remains in recovery mode. ![]() The end of the ban stemming from the Jan. Shares were down 4% on Thursday.įacebook parent Meta ( META) shares moved higher following the news that the company decided to restore former President Donald Trump’s Instagram and Facebook accounts. Adjusted earnings per share came in at $3.60, in line with analyst forecasts. The hybrid cloud and infrastructure company also reported fourth-quarter earnings that came in slightly above analysts expectations with revenue of $16.69 billion. As a result, the company said it will take a $300 million hit in the first quarter to pay for employee severance costs. The cuts will come from Kyndryl Holdings, the IT services business IBM spun off last year. ( IBM) joined the wave of company layoffs, saying it will cut about 3,900 workers. Tesla announced it would deliver about 1.8 million vehicles this year, which would represent a 37% jump in production. Its results showed the electric vehicle maker had better-than-expected profits in the latest quarter, earning $3.7 billion in net income on $24.3 billion in revenue. Tesla ( TSLA) also took center stage on the corporate front as shares increased more than 10% after the company reported strong earnings. Shares of Bed Bath and Beyond ( BBBY) sank on Thursday after the company said in an SEC filing that it doesn't have enough cash to pay down its debts and has defaulted on its credit line with JP Morgan. Market moves Thursday came after stocks climbed back from session lows Wednesday, ending the session nearly flat as 12 of the 24 industry groups hit positive territory for the day. ![]() Sales of new homes rose 2.3% last month to a seasonally adjusted annual rate of 616,000, according to a report Thursday from the Census Bureau, while mortgage rates slipped to 6.13%, per Freddie Mac. economy amid worries over a potential recession. Together, the data represented more signs of resilience for the U.S. Meanwhile, initial jobless claims fell again to 187,000, the lowest level since April 2022. Personal consumption expenditures (PCE), compromised two-thirds of domestic activity, added 2.1%, a slowdown from the prior quarter of 2.3%. GDP grew 2.9% annual rate in the final quarter of 2022, above expectations, according to the Bureau of Economic Analysis.
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