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Markets Close in the Green; INTC, Visa Beat, T-Mobile Mixed
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Another strong day in the stock market saw all four major indices gain ground. Stronger prints on Q4 GDP (preliminary, subject to two future revisions), inventory levels, Q4 earnings (for the most part) and new home sales helped buoy bullish sentiment yet again. All four are well above near-term lows set eight days ago. The Dow grew +242 points, +0.64%, while the S&P 500 gained +0.53%. The Nasdaq, which had flirted with a lower close until the final half hour of the trading day, finished +0.18%, and the small-cap Russell 2000 was +0.50%.
New highs were set this session for companies like Amazon (AMZN - Free Report) , Microsoft (MSFT - Free Report) and Alphabet (GOOGL - Free Report) , while they came up just shy at NVIDIA (NVDA - Free Report) . None of these companies have yet reported Q4 earnings, by the way. That said, we do have a decent influx of new Q4 reports hitting the tape in today’s after-hours, so let’s have a gander:
Intel (INTC - Free Report) continued its impressive earnings streak — the company notched its fourth-straight quarterly earnings beat — on +10% revenue growth, year over year. Earnings of 54 cents per share outpaced the Zacks consensus by a solid dime, while top-line sales of $15.4 billion swept past the $15.14% expected. For the full year, Intel posted earnings of $1.05 per share on $54.2 in revenues — better than the 95 cents and $53.96 billion expected, respectively.
Speaking of impressive earnings streaks, Visa (V - Free Report) still has no blemishes on its graph going back more than 10 years. Earnings of $2.41 per share outperformed expectations by 8 cents per share in its fiscal Q1, with $8.6 billion in revenues surpassing the estimated $8.5 billion. The company’s Payments Volume rose +8% year over year, which was slightly below the previous quarter.
T-Mobile U.S. (TMUS - Free Report) posted mixed Q4 results after today’s closing bell. missing on its bottom line — earnings of $1.67 per share from expectations of $1.90 — while beating slightly on its top line — revenues of $20.4 billion versus expectations of $19.69 billion. Just yesterday, T-Mobile announced a cash dividend of 65 cents per share of its outstanding and private stock. Shares are ping-ponging in late trading; currently they are down -2.8%.
Tomorrow brings us the December Personal Consumer Expenditure (PCE) report, expected to tick up slightly on headline month over month and core year over year. Core PCE the previous month notched the lowest level of the one-year cycle, +2.64%, coming off +5.49% back in January of last year. The inflation-highs we saw on this metric was back in mid-2022, around +7%. Thus, while we may see a bit of push and pull at current levels, we’ve come a long way down.
Image: Bigstock
Markets Close in the Green; INTC, Visa Beat, T-Mobile Mixed
Another strong day in the stock market saw all four major indices gain ground. Stronger prints on Q4 GDP (preliminary, subject to two future revisions), inventory levels, Q4 earnings (for the most part) and new home sales helped buoy bullish sentiment yet again. All four are well above near-term lows set eight days ago. The Dow grew +242 points, +0.64%, while the S&P 500 gained +0.53%. The Nasdaq, which had flirted with a lower close until the final half hour of the trading day, finished +0.18%, and the small-cap Russell 2000 was +0.50%.
New highs were set this session for companies like Amazon (AMZN - Free Report) , Microsoft (MSFT - Free Report) and Alphabet (GOOGL - Free Report) , while they came up just shy at NVIDIA (NVDA - Free Report) . None of these companies have yet reported Q4 earnings, by the way. That said, we do have a decent influx of new Q4 reports hitting the tape in today’s after-hours, so let’s have a gander:
Intel (INTC - Free Report) continued its impressive earnings streak — the company notched its fourth-straight quarterly earnings beat — on +10% revenue growth, year over year. Earnings of 54 cents per share outpaced the Zacks consensus by a solid dime, while top-line sales of $15.4 billion swept past the $15.14% expected. For the full year, Intel posted earnings of $1.05 per share on $54.2 in revenues — better than the 95 cents and $53.96 billion expected, respectively.
Speaking of impressive earnings streaks, Visa (V - Free Report) still has no blemishes on its graph going back more than 10 years. Earnings of $2.41 per share outperformed expectations by 8 cents per share in its fiscal Q1, with $8.6 billion in revenues surpassing the estimated $8.5 billion. The company’s Payments Volume rose +8% year over year, which was slightly below the previous quarter.
T-Mobile U.S. (TMUS - Free Report) posted mixed Q4 results after today’s closing bell. missing on its bottom line — earnings of $1.67 per share from expectations of $1.90 — while beating slightly on its top line — revenues of $20.4 billion versus expectations of $19.69 billion. Just yesterday, T-Mobile announced a cash dividend of 65 cents per share of its outstanding and private stock. Shares are ping-ponging in late trading; currently they are down -2.8%.
Tomorrow brings us the December Personal Consumer Expenditure (PCE) report, expected to tick up slightly on headline month over month and core year over year. Core PCE the previous month notched the lowest level of the one-year cycle, +2.64%, coming off +5.49% back in January of last year. The inflation-highs we saw on this metric was back in mid-2022, around +7%. Thus, while we may see a bit of push and pull at current levels, we’ve come a long way down.
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