Core Viewpoint - Philip Morris International Inc. reported a decline in fourth-quarter net income and cigarette shipment volume, leading to a decrease in stock price during premarket trading [1] Financial Performance - The company earned $2.19 billion, or $1.41 per share, in the fourth quarter, down from $2.38 billion, or $1.54 per share, in the same quarter last year [1] - Adjusted profit of $1.36 per share fell short of the FactSet consensus estimate of $1.45 per share [1] - Revenue increased by 11% to $9.05 billion, aligning with analysts' estimates [1] Future Outlook - For 2024, the company expects earnings of $5.90 to $6.02 per share, which is below the analyst estimate of $6.60 per share [1]

PayPal Holdings Inc. hit the reset button once again, and its shares were tumbling in Thursday’s premarket trading as some on Wall Street continued to express skepticism about the ease of the company’s turnaround. Despite “bold efforts” by management in the middle of the quarter “to rejuvenate a story which many investors had abandoned,” Wells Fargo analyst Andrew Bauch said that PayPal’s PYPL, -0.74% latest results and outlook were “more likely to vindicate the perma-bears and leave the want-to-be-bulls in ...

Shares of ConocoPhillips COP, +0.72% tacked on 0.4% in premarket trading Thursday, after the oil exploration and production company beat fourth-quarter profit and revenue expectations as 2023 production reached record levels. Net income fell to $3.01 billion, or $2.52 a share, from $3.25 billion, or $2.61 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $2.40 were well above the FactSet consensus of $2.09. Revenue declined 20.5% to $15.31 billion but was above t ...

Core Insights - Harley-Davidson Inc. reported a significant earnings beat for the fourth quarter, with net income of $25.8 million, or 18 cents per share, surpassing the FactSet consensus of 4 cents per share [1] - Despite the profit beat, motorcycle shipments continued to decline, falling 13% for the third consecutive quarter due to cautious dealer inventory management and market conditions [1] - Revenue decreased by 7.8% to $1.05 billion, although it exceeded the FactSet consensus of $998.2 million [1] Financial Performance - Net income decreased from $41.9 million, or 28 cents per share, in the previous year to $25.8 million, or 18 cents per share [1] - Revenue fell by 7.8% year-over-year to $1.05 billion [1] - Motorcycle sales dropped 12.5% to $583 million, while parts and accessories sales decreased by 13.9% to $130 million [1] Motorcycle Shipments and Sales - Motorcycle shipments fell by 13%, marking the third straight quarter of declines [1] - The company sold 514 LiveWire electric motorcycles in the fourth quarter, a significant increase from 69 units sold in the same period last year [1] - Harley-Davidson anticipates shipping between 1,000 to 1,500 electric motorcycles in 2024 [1]

The resilience of the U.S. economy has been a surprise to Wall Street, and the Federal Reserve, for well over a year now, and the latest GDPNow estimate from the Atlanta Fed suggests the first quarter could once again handily beat Wall Street’s estimates. The leading theory on why the economy has been so strong, even amid a surge in inflation and then a steep rise in interest rates, is the power of fiscal spending. One paper last year suggested that unless the government pays down the debt — no risk of that ...

California regulators are reportedly looking into a crash in San Francisco between a Waymo self-driving car and a bicyclist.The driverless taxi struck the cyclist in an intersection in San Francisco’s Mission District on Tuesday afternoon. The cyclist was lightly injured but did not require hospitalization. A passenger in the vehicle was uninjured.Reuters reported Wednesday that Waymo — which is Alphabet’s GOOG, +0.87% GOOGL, +1.00% autonomous driving unit — contacted the relevant authorities, and the Calif ...

The Walt Disney Co. is banking on a trio of pop-culture juggernauts to help juice its bottom line in the near future.Disney DIS, -0.15% revealed a slew of coming attractions in its earnings report Wednesday afternoon, including the streaming premiere of Taylor Swift’s blockbuster concert movie, a sequel to the wildly popular animated movie “Moana” and a strategic partnership with Epic Games Inc., the company behind the massive hit videogame “Fortnite.”“The stage is now set for significant growth and success ...

Walt Disney Co. revealed big strides at narrowing losses in its streaming business in its earnings report Wednesday, and touted another lever that will help in Chief Executive Bob Iger’s ongoing efforts to turn the media giant’s fortunes around — cracking down on password sharing.In the face of a growing number of activist investors, Disney DIS, -0.15% reported better-than-expected results in its fiscal first quarter, including narrower-than-expected losses in its streaming business. Also known as its direc ...

Costco Wholesale Corp.’s January sales rose 4.5% year over year to $22.08 billion, cooling from holiday-boosted December sales of more than $26 billion. Costco COST, +1.26% same-store sales rose nearly 3%, and e-commerce sales increased 21%, the retail giant said. Costco’s stock fell 0.2% in the extended session, after ending the regular trading day up 1.3%. Wednesday’s report followed news Tuesday that said longtime Costco’s Chief Financial Officer Richard Galanti had “confirmed” his plan to step dow ...

Lawmakers seeking to hold drugmakers accountable for high prescription-drug costs are focusing on some prices that shed little light on the problem, drug-pricing experts say. The CEOs of Merck & Co. Inc. MRK, +0.49%, Johnson & Johnson JNJ, -0.11% and Bristol Myers Squibb Co. BMY, -1.50% are set to appear before the Senate Health, Education, Labor and Pensions Committee on Thursday for a hearing examining why U.S. prescription-drug prices are far higher than those in other countries. Merck CEO Robert Davis a ...