2024-01-23 21:41:08
Published on: 01/23/2024 – 10:41 p.m. Modified on: 01/23/2024 – 10:40 p.m.
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The Dow Jones index lost 0.25% to 37,905.45 points, the Nasdaq, predominantly technological, increased 0.43% to 15,425.94 points. The S&P 500 advanced 0.29% to 4,864.60 points, a third historic peak in a row, after the two-year-old reached on Friday.
A salvo of results poured down on Wall Street “with its usual share of winners and losers”, commented Steve Sosnick of Interactive Brokers.
Netflix, which closed up 1.33% to $492.19, soared 7.66% in electronic trading after closing.
The streaming platform announced after the close that it gained more than 13 million additional subscribers during the fourth quarter, much more than expected, to reach 260.28 million subscribers in total.
Netflix achieved $8.8 billion in revenue during the holiday season (+12.5% in one year), a result also higher than analysts’ forecasts.
At the start of the results season, “it is still too early” to discern an overall trend in the results and especially in the activity projections of companies “which are the key” to their evolution on Wall Street, said Steve Sosnick .
During the session, “we can consider that UAL was among the winners and 3M among the losers,” he added.
United Airlines (UAL) soared 5.31% to $40.49 after posting sales above projections in the final quarter of 2023 at $13.6 billion.
UAL, however, expects a loss in the first quarter due to grounded Boeing 737 MAX 9s, after an incident in early January on an Alaska Airlines flight.
Other companies benefited from the movement, such as Delta (+2.81%) and American Airlines (+2.79%).
The conglomerate 3M (-10.93% to $96.21) disappointed with its weak growth forecasts for 2024 despite an increasing quarterly profit.
Over the year 2023, the group is in a loss of nearly $7 billion, which includes the cost of an agreement of some $6 billion to settle lawsuits related to ineffective earplugs intended for the military and manufactured by its subsidiary Aearo Technologies.
The telecommunications group Verizon was sought after (+6.70%) after seeing an increase in its mobile telephone subscribers in the last quarter.
The consumer products manufacturer Procter & Gamble (+4.14%) published declining results from October to December, due to its acquisition of the razor manufacturer Gillette. But these results were nevertheless better than expected.
In this second quarter of its staggered financial year, the group recorded a turnover of 21.4 billion dollars (+3%), supported by the price increases practiced, which compensated for lackluster volumes.
As for the American pharmaceutical giant Johnson & Johnson, it saw its shares slide by 1.64% despite having confirmed its forecasts for the current financial year, after having experienced a fourth quarter of 2023 in line with market expectations.
The group therefore continues to expect growth of 5% to 6% in its organic turnover for 2024, which would bring it to a range of $88.2 to $89 billion.
But the action was weighed down by an agreement in principle – worth $700 million, according to the press – that the group signed with the courts of 43 states to settle lawsuits linked to its talc accused of be carcinogenic.
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