In early regular-session trading Wednesday, the Dow Jones industrials were up 0.42%, the S&P 500 up 0.74% and the Nasdaq 1.06% higher.
After U.S. markets closed on Wednesday, Meta Platforms beat top-line and bottom-line estimates as revenue bounced to year-over-year growth after three consecutive quarters of year-over-year declines. Advertising revenue growth, alongside thousands of previously announced job cuts, offers investors a potent combination for profit growth going forward. Shares traded up 14.7% early Thursday.
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Antero Resources beat Wall Street’s consensus earnings per share (EPS) and revenue estimates. Shares traded down about 3.6%.
EQT also beat top-line and bottom-line estimates, but revenue fell by 26% year over year. Shares traded up 7.8%.
Before markets opened on Thursday, AbbVie missed consensus estimates on both the top and bottom lines and issued in-line guidance for fiscal 2023 EPS. Shares traded down 6.7%.
Altria matched its expected EPS number but missed on revenue. First-quarter revenue dropped 1.2% year over year. Shares traded down 2.5%.
American Airlines exceeded analysts’ consensus EPS estimate but fell short on revenue. Year over year, revenue increased by 37%. Shares traded up 3.2%.
Merck beat estimates on both the top and bottom lines. The pharmaceutical firm issued fiscal-year earnings and revenue guidance that were in line with analysts’ estimates. Shares traded up 0.4%.
Caterpillar also beat estimates on the top and bottom lines, and revenue increased by nearly 17% year over year. Shares traded down about 4.1%.
Newmont missed the consensus revenue estimate but beat the EPS forecast by 20%. Shares traded up 0.2%.
Peabody Energy topped consensus estimates for both EPS and revenue. The coal miner announced a $1 billion share buyback program and said it completed prefunding of all its closure and reclamation obligations. Shares traded up 0.8% Thursday morning.
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