Stocks making the biggest moves premarket: Nvidia, Oracle, JetBlue, General Motors and more
Nvidia
— The artificial intelligence darling bounced back about 3% after plunging 17% a day earlier. Shares of peer firms with large AI exposure Broadcom and Oracle
also ticked up more than 2%.
Boeing
— The aerospace stock was less than 1% lower after fourth-quarter results missed analyst estimates. Boeing reported an adjusted loss of $5.90 per share, while analysts polled by LSEG expected a loss of $3. Boeing’s fourth-quarter revenue of $15.24 billion also missed estimates that called for $16.21 billion.
AutoDesk
— Shares of the software company advanced more than 2% following an upgrade to outperform from neutral at Mizuho Securities. Analyst Siti Panigrahi cited a potential recovery in the industrial data sector as well as an improving macro backdrop could signal upside ahead.
General Motors
— The legacy automaker was marginally lower despite better-than-expected fourth-quarter results and forward guidance. GM reported $1.92 per share in earnings, excluding items, on revenue of $47.70 billion, while analysts polled by LSEG forecast $1.89 per share and $43.93 billion in sales. The firm expects full-year earnings in the range of $11 per share to $12, compared to a FactSet median estimate that called for $10.86 in earnings per share.
Royal Caribbean Cruises
— The stock rose nearly 6% after the cruise line reported an earnings beat for the fourth quarter. Royal Caribbean’s first-quarter and full-year earnings guidance also topped expectations. The company expects earnings per share in the current quarter in the range of $2.43 per share to $2.53, topping the $2.35 expected from analysts polled by FactSet.
Synchrony Financial — Shares slipped 5% after the consumer financial company’s fourth-quarter earnings missed estimates. Synchrony notched earnings per share of $1.91, while analysts surveyed by FactSet were looking for $1.93 per share.
JetBlue
— The airline stock dipped more than 7% despite fourth-quarter results beating analyst estimates. JetBlue reported a smaller-than-expected adjusted loss of 21 cents per share, while analysts polled by LSEG forecast a loss of 31 cents. The company’s revenue in the most recent quarter of $2.28 billion also beat analyst estimates that called for $2.25 billion. For the full-year, JetBlue said it expects capital expenditures of roughly $1.4 billion, above the forecast $1.25 billion from analysts surveyed by FactSet.
RTX
— Shares of the defense contractor popped 4% on fourth-quarter results that beat analyst expectations. RTX earned $1.54 per share on revenue of $21.62 million. Analysts expected a profit of $1.38 per share on revenue of $20.54 billion.
Lockheed Martin
— The stock dropped more than 3% on the back of disappointing revenue for the fourth quarter. Lockheed’s top line came in at $18.62 billion, while analysts polled by LSEG expected $18.91 billion.