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HomeStocks in FocusIntel, Visa, T-Mobile US dip premarket; Amex, Tesla climb.

Intel, Visa, T-Mobile US dip premarket; Amex, Tesla climb.

Intel

Pre-Market active stocks

Gainers

  • American Express stock jumped 2.7% after the credit card company topped full-year earnings projections and upped its loan loss reserves to prepare for more loan defaults.
  • Tesla (NASDAQ:TSLA) stock climbed 0.8% after a steep loss, but the electric vehicle maker is recalling roughly 200,000 Model S, X, and Y vehicles in the U.S. owing to a software issue that could impair reverse visibility.
  • Colgate-Palmolive (NYSE:CL) stock climbed 0.7% after its fourth-quarter results topped estimates. “We leveraged our strong margin performance to invest in brand building,” stated CEO Noel Wallace.

Losers

  • Intel (NASDAQ:INTC) stock tumbled 10% as the chipmaker forecast a weak first-quarter sales estimate as it tries to navigate uncertain demand in traditional computing markets and catch up in AI.
  • Western Digital (NASDAQ:WDC) stock slumped 3.7% after the data-storage products maker reported a wider-than-expected quarterly adjusted loss due to structural changes in its flash and HDD divisions.
  • KLA Corporation (NASDAQ:KLAC) stock slumped 3.4% after the chipmaker provided weak fiscal third-quarter revenue and EPS guidance.
  • Visa stock slumped 2.5% as the credit card company anticipated weak current-quarter revenue growth, overriding a market-beating earnings report.
  • T-Mobile US (NASDAQ:TMUS) shares slumped 2.4% after missing its fourth-quarter profit target, although forecasting above-expected monthly bill-paying phone user growth for the year based on its wide 5G coverage and promotional offers.

Stocks in focus

LVMH (OTCPK:LVMHF) shares rose over 5% after reporting higher 2023 sales and raising its dividend. Organic revenue rose 10% in Q4. With fashion and leather products growing 14% annually, perfumes and cosmetics growing 11%, and wines and spirits declining 4%, the results were strong.
Intel (NASDAQ:INTC) fell 10% after releasing worse Q1 outlook. Intel (INTC) expects Q1 revenue between $12.2B and $13.2B, below analysts’ $14.25B forecast despite a PC comeback. The business expects adjusted earnings of $0.13 per share, with 44.5% gross margins and 13% tax rate, compared to analysts’ $0.42 per share projections. Intel’s CFO said, “We expect to unlock further efficiencies in 2024 and beyond as we implement our new internal foundry model, which is designed to drive greater transparency and accountability and higher returns on our owners’ capital.”

T-Mobile US (NASDAQ:TMUS) shares plummeted over 3% after lackluster Q4 results. The company beat revenue projections and showed mobile consumer gains, but it missed profitability expectations. T-Mobile (TMUS) expects mid-2024 core-adjusted EBITDA growth of 9%. At the midpoint, the company expects 18% net cash from operations growth and 22% adjusted free cash flow.
Visa (NYSE:V) shares fell 3% after the payment network provider reported poorer Q1 2024 payments volume and raised its FY2024 expense growth guidance. The company now expects low double-digit annual operational expense increase, up from high single-digits. Previously high single digits to low double digits, yearly net revenue growth is now expected in the low double digits. Visa maintained its FY2024 class A common stock EPS growth forecast in the low teens. Visa predicts class A common stock EPS growth in the high teens, net revenue growth in the upper mid to high single digits, and operating expense increase in the low double digits for fiscal Q2.

Dividend Delights

Dividend Delights: Merck, Costco, Lockheed Martin, Comcast, and More in the Spotlight

This week’s dividend activity includes increased payouts from Kimberly-Clark (KMB) and Yum! Brands (YUM) and declarations from Merck (NYSE:MRK) and Lockheed Martin.

Future dividend ex-dividend dates for Morgan Stanley (MS) and Costco (NASDAQ:COST) will be announced next week.

See below for this week’s highlights and dividend activities.

Increased dividend
Companies that raised dividends this week include:

KMB-Clark

Declared dividend: January 24
New dividend: $1.22
Previously: $1.88
Increase: 3.4%
Yum! Yum brands

January 25 dividend.
New dividend: $0.67
Previously: $0.605
Increase: 10.7%
Comcast (CMCSA)

January 25 dividend.
New dividend: $0.31
Previously: $0.29
Increase: 6.9%
Declarations of dividends
The following firms declared dividends this week:

Haliburton

January 23 dividend
Merck (MRK) dividend: $0.17

January 23 dividend
Dividend: $0.77
LMT Lockheed Martin

January 23 dividend
T-Mobile US (TMUS) dividend: $3.15

Declared dividend: January 24
Dividend: $0.65
Here are several firms with ex-dividend dates coming up next week:

Morgan Stanley

Dividend ex-date: January 30
Payout: February 15.
TXN Instruments

Dividend ex-date: January 30
Payout: February 13.
Valero Energy

Dividend ex-date: January 31
Payment date: March 4 Costco (COST)

The ex-dividend date is February 1.
Payout: February 16.

WEEKLY EARNINGS CALENDAR

Friday, JAN 26

American Express, Norfolk Southern

Must read book about investing – check here

For Details

Intel Intel Intel Intel Intel Intel Intel Intel

Airbnb suffers as a result of KeyBanc’s downgrade 

Airbnb (NASDAQ:ABNB) shares were down nearly 3% in premarket trading Tuesday after KeyBanc downgraded the business from Overweight to Sector Weight.  

Following the split, WK Kellogg began at Sell. 

Following the conclusion of Kellogg Company’s (NYSE:K) spinoff of its North American cereal division into the WK Kellogg standalone entity, Goldman Sachs commenced coverage on WK Kellogg (NYSE:KLG) with a Sell rating and a price target of $11.00. 

WK Kellogg’s stock dropped significantly on the first day after the spinoff, closing more than 9% down on Monday.  

Nortfolk Southern and Bread Financial have been downgraded. 

Norfolk Southern (NYSE:NSC) shares fell more than 2% on Monday after BofA Securities downgraded the firm to Neutral from Buy and reduced its price objective to $215.00 from $266.00, citing operational difficulties and excessive costs.  

Bread Financial (NYSE:BFH) has been downgraded to Sell from Neutral by Goldman Sachs, with a $32 price target. As a result, shares dropped about 2% on Monday. 

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ell suffers as a result of a downgrade by Barclays.
Dell Technologies (NYSE:DELL) shares tumbled 3% before the bell on Thursday after Barclays downgraded the firm to Underweight from Equalweight, with a $53.00 price target.

Cloudflare began at Underperform.
Cloudflare (NYSE:NET) has been added to BofA Securities’ coverage with an Underperform rating and a $52.00 price objective.

Crocs (NASDAQ:CROX) shares were down more than 2% in pre-market trading today after B.Riley downgraded the firm to Neutral from Buy and reduced its price objective to $101.00 from $125.00.

Verint Systems (NASDAQ:VRNT) was downgraded from Outperform to Perform by Oppenheimer.
Following the company’s announced Q2 EPS and sales misses, as well as dismal full-year forecasts, shares fell more than 17% pre-market today.

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