Spirit Airlines, Alibaba, Interactive Brokers, Impinj, Albemarle, Schwab, and More Movers
Stock futures fell Wednesday as global central bank officials worked to cool expectations about interest-rate cuts in 2024. Slowing economic growth in China also was denting sentiment.
U.S.-listed shares of
were down 3%,
slumped 4.3%, and
fell 3.8% after gross domestic product in China expanded 5.2% in the fourth quarter and for 2023. It was the slowest annual rate since 1990 excluding the three years of the Covid-19 pandemic, according to The Wall Street Journal.
reported fourth-quarter adjusted earnings of $1.52 a share, missing analysts’ estimates by 1 cent. Revenue rose 17% to $1.14 billion and matched forecasts. Customer accounts at the electronic broker rose 23% to 2.56 million in the period, while its customer equity climbed 39% to $426 billion. The stock declined 4.1%.
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posted fourth-quarter adjusted earnings that fell from a year earlier but topped Wall Street expectations. Revenue of $177 million also topped estimates. The company’s outlook for fiscal 2024 also was about in line with analysts’ forecasts. Shares were up 2.9%.
was rising 1.2% after the lithium miner said it would cut its headcount and reduce certain spending “in response to changing end-market conditions, particularly in the lithium value chain.”
Impinj
,
the internet-of-things company, said it expects fourth-quarter revenue of more than $70 million, above its prior guidance of $65.5 million to $68.5 million. It also said it expects adjusted earnings before interest, taxes, depreciation, and amortization in the period to exceed $2.5 million, above its prior guidance of negative $900,000 to positive $700,000.
rose 11%.
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reduced its guidance for fiscal first-quarter revenue, saying it now expects $980 million to $985 million, below its previous outlook of $990 million to $1.03 billion. The electronic manufacturing services company also warned it would miss previous guidance for operating margins and earnings, saying it “experienced continued market-driven inventory corrections and incrementally weaker demand” from the healthcare and industrial market sectors. The stock was down 1.7%.
declined 1.8% to $11.26 after analysts at UBS downgraded the auto maker to Neutral from Buy and left their price target unchanged at $12.
is expected by analysts to report fourth-quarter earnings on Wednesday of 64 cents a share on revenue of $4.5 billion, compared with year-earlier earnings of $1.07 a share and revenue of $5.5 billion. The stock was down 0.5% ahead of the report.
Write to Joe Woelfel at joseph.woelfel@barrons.com
