Stocks rose as investors considered the speed at which the Federal Reserve would raise interest rates and expected more profits from big companies. Here’s what we’re looking at in Thursday’s trading:
profits fell last quarter as the company increased spending on new facilities and new products, part of CEO Pat Gelsinger’s efforts to revive the semiconductor giant’s fortunes.
Tesla CEO Elon Musk has said the electric car maker will not introduce new models this year as it bets on increasing deliveries rather than diversifying its product offerings in the face of continued disruptions to the supply chain.
- Clothing company Levi Strauss said it expects higher revenue in 2022 than a year earlier and reported higher fourth-quarter profit.
Whirlpool said washing machines, refrigerators and other appliances are likely to remain hard to come by this year as Covid-19 infections continue to fuel supply chain issues.
- Digital lending company LendingClub gave 2022 earnings forecasts below analysts’ expectations.
The first quarter financial forecast was lower than Wall Street projections.
Las Vegas Sands posted smaller losses but a slight decline in revenue in the fourth quarter.
Xilinx said its board of directors has approved a special dividend that will only be payable if the company’s previously announced merger with Advanced Micro Devices does not close on the record dividend date.
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net profit nearly doubled in the fourth quarter on the back of strong investment performance in some of its largest businesses, as the largest private equity firm by assets picked up more cash than in any other period in its history story.
- Fast-food company McDonald’s reported fourth-quarter earnings and revenue that beat expectations.
Mastercard reported higher earnings and revenue in the fourth quarter, driven by strong spending trends.
- Shares of Block fell after a Bloomberg report said Apple is planning a service that will allow retailers to accept payments on iPhones without the need for additional hardware.
Sherwin-Williams reported a fourth-quarter revenue shortfall and full-year earnings guidance below Street’s expectations.
- Earnings are due after Apple’s market closes,
Mondelez International and Visa.
Card of the day
- Prioritize sustainability, however, and investors will find themselves in a difficult position: assuming the shift from fossil fuels occurs, they have a choice of making a difference or making more profit.
Write to Caitlin Ostroff at [email protected]
Corrections & Amplifications
Mastercard reported earnings before the market opened. A previous version of this article incorrectly stated that it would post them after market close. (Corrected January 27.)
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