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HomeStocks in FocusNetflix, Tesla, and ASML increase premarket, while AT&T and DuPont dip.

Netflix, Tesla, and ASML increase premarket, while AT&T and DuPont dip.

Netflix

Pre-Market active stocks

Gainers

  • Netflix (NASDAQ:NFLX) shares gained 9.4% after the streaming giant announced that it added significantly more paying customers than expected in the fourth quarter, aided by a slate of popular programming.
  • ASML (AS:ASML) ADRs increased 5.8% after the Dutch chipmaking equipment manufacturer posted fourth-quarter profitability that exceeded expectations and the company’s highest quarterly orders.
  • Tesla (NASDAQ:TSLA) stock jumped 1.3% following a Reuters story that the EV manufacturer has informed suppliers that it intends to begin manufacturing of a new mass-market electric vehicle in mid-2025. Tesla will report after the close on Wednesday.
  • General Dynamics (NYSE:GD) stock increased 0.2% after the US defense contractor reported an increase in fourth-quarter revenue, as a difficult global political atmosphere kept demand for its military equipment strong.

Losers

  • DuPont (NYSE:DD) slumped 11% as the materials science business warned of an earnings deficit due to increased inventory destocking and ongoing difficulties in China, resulting in fewer volumes.
  • Kimberly-Clark (NYSE:KMB) stock slumped 4.1% after the consumer goods company’s fourth-quarter revenues fell short of estimates as price increases slowed amid sluggish demand for its products.
  • AT&T (NYSE:T) stock slumped 3.7% after the telecommunications company announced a lower-than-expected full-year earnings estimate, citing intense competition from cable companies.
  • Texas Instruments’ (NASDAQ:TXN) stock plummeted 3.3% after the chipmaker anticipated first-quarter revenue and profit below market expectations.
  • Abbott Laboratories (NYSE:ABT) shares dipped 2% after the medical equipment producer reported lower-than-expected pharmaceuticals revenue.
  • Ford (NYSE:F) stock declined 0.1% as the automaker announced a recall of 1.88 million Explorer cars from 2011 to 2019 due to A-pillar trim retention clips that may not be properly engaged, allowing the trim to detach.

Stocks in focus

AT&T (NYSE:T) shares were among the most actively traded before the opening bell, falling more than 3%. The telecom giant’s updated earnings prediction for 2024 fell substantially short of consensus estimates. An accelerated depreciation of the company’s open radio access network, retirement benefits, reduced capitalized interest, and lower adjusted equity from its DirecTV investment all weighed on the outlook. AT&T (T) also forecasted higher-than-expected capital investment in 2024 as it expanded its network. See how T performed in the charts.
IBM (IBM) shares will receive some attention, as the legacy technology major is scheduled to release Q4 2023 results after the closing bell. Wall Street anticipates IBM (IBM) to earn $3.80 per share on $17.28 billion in revenue. The company is expected to publish results that are broadly consistent with forecasts, aided by strength in its consulting and software operations. Investors will also be watching for IBM’s (IBM) projections, as well as any comments on enterprise IT expenditure and tailwinds related to artificial intelligence.
All eyes will be on Tesla (NASDAQ:TSLA), which is set to report Q4 2023 earnings following regular trading hours. The Elon Musk-led corporation is predicted to earn 74 cents per share on revenue of $25.76B. As usually, investors and analysts will be watching a variety of data points, but the gross margin statistic may receive even more attention than usual following recent price cuts on select Tesla (TSLA) models in key markets. Other major topics will include production guidance for 2024, margin trend, and technical updates.

Walgreens Boots Alliance’s (WBA) stock rose about 1.5% in pre-market trade. The move occurred after Bloomberg reported that the pharmacy chain was considering selling Shields Health Solutions, a specialized pharmaceutical business it acquired three years ago. Bloomberg reported that a prospective sale of the unit might fetch $4 billion, citing sources familiar with the situation. In September 2022, Walgreens (WBA) paid approximately $1.37 billion for the remaining 30% ownership in Shields.
Boeing (BA) shares were once again in spotlight, rising slightly ahead of the market open. The leading planemaker can’t seem to catch a break, as yet another mishap involving one of its aircraft has surfaced. According to an accident and incident bulletin from the Federal Aviation Administration, a Boeing (BA) 757 flight operated by Delta Air Lines (DAL) lost a nose wheel while preparing to take off at Atlanta’s international airport on Saturday. Boeing (BA) has been dealing with a big backlash after a blown door plug on a 737 Max 9 aircraft earlier this month, with shares down roughly 15% since then.

WEEKLY EARNINGS CALENDAR

Wednesday, JAN 24

AT&T, Tesla, IBM

Thursday Jan 25

Dow Chemical, Southwest Airlines, Alaska Airlines, Intel, Visa, T-Mobile

Friday, JAN 26

American Express, Norfolk Southern

For Details

Netflix Netflix Netflix Netflix Netflix Netflix Netflix Netflix Netflix Netflix Netflix Netflix Netflix Netflix Netflix Netflix Netflix Netflix Netflix Netflix

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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