Telecommunications company Dycom (NYSE:DY) reported Q4 CY2024 results beating Wall Street’s revenue expectations, with sales up 13.9% year on year to $1.08 billion. On the other hand, next quarter’s revenue guidance of $1.18 billion was less impressive, coming in 5.6% below analysts’ estimates. Its GAAP profit of $1.11 per share was 33.3% above analysts’ consensus estimates.
Semiconductor photomask manufacturer Photronics (NASDAQ:PLAB) reported revenue ahead of Wall Street’s expectations in Q4 CY2024, but sales fell by 1.9% year on year to $212.1 million. On the other hand, next quarter’s revenue guidance of $212 million was less impressive, coming in 5.8% below analysts’ estimates. Its non-GAAP profit of $0.52 per share was 10.6% above analysts’ consensus estimates.
Stellantis shares fell in premarket trading Wednesday after the struggling automaker's 2024 profit disappointed investors, although the Jeep and Chrysler parent said it expects to return to revenue growth this year.
Optical retailer National Vision (NYSE:EYE) beat Wall Street’s revenue expectations in Q4 CY2024, with sales up 3.9% year on year to $437.3 million. The company’s full-year revenue guidance of $1.93 billion at the midpoint came in 2% above analysts’ estimates. Its non-GAAP loss of $0.04 per share was in line with analysts’ consensus estimates.
The tech-heavy Nasdaq led Wall Street's main indexes higher on Wednesday as chip stocks rebounded ahead of Nvidia's results that are crucial to illuminating future demand for AI. At 09:58 a.m. ET, the Dow Jones Industrial Average rose 117.59 points, or 0.27%, to 43,738.75, the S&P 500 gained 31.42 points, or 0.53%, to 5,986.67 and the Nasdaq Composite gained 155.11 points, or 0.82%, to 19,181.49. Eight of the S&P 500's 11 sectors traded higher, with technology stocks rising 1.2%.
Hit by draining consumer and business confidence amid uncertainty about Washington's economic policies, Wall Street stock indexes are all tripping into the red for 2025 - with the slide stalling for now, awaiting megacap Nvidia's earnings today. U.S. consumer confidence deteriorated at its sharpest pace in 3-1/2 years in February, with 12-month inflation expectations surging amid worries that tariffs on imports would raise prices for households.
The modest reaction across bond markets, typically unnerved by higher spending, as defence talks gathered pace this month suggests investors view increased borrowing as manageable so far. They say it also suggests markets expect some form of joint European funding again, five years after the European Union launched an 800 billion euro ($840 billion) pandemic recovery fund. Late last year investors saw joint borrowing from the EU itself as less likely.
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(Bloomberg) -- Stock pickers are holding their smallest allocations of megacap names such as Apple Inc. and Nvidia Corp. since the global financial crisis, boosting their funds’ performance in a year that has kicked off with a slide in technology shares.Most Read from BloombergNYC’s Congestion Pricing Pulls In $48.6 Million in First MonthThe Trump Administration Takes Aim at Transportation ResearchShelters Await Billions in Federal Money for Homelessness ProvidersNYC to Shut Migrant Center in Fo
EV maker Lucid Motors' stock popped after hours following the company's better-than-expected results and a change at the top of its management.