Meta's Weak Forecast Plunge

Plus, IBM's next big tech acquisition.

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Today is Thursday, April 25, 2024.

The Early Bird Index today is 68.00.

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Meta's Weak Forecast Plunge

Strong financial results couldn’t save Facebook parent Meta Platforms (Nasdaq: META) from plunging 15.13% during after-hours trading on Wednesday.

Financials: Meta Platforms reported earnings of $4.71 per share in the past quarter and revenue of $36.46 billion; both were better than expected.

Powering the Story: Despite its AI ambitions, Meta Platforms’ revenue outlook for the current quarter was lower than expected.

Final Thoughts: The stock is still positive this year and the results were good, but investors question how Meta Platforms will perform during the current period.

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Notable Earnings Today: Microsoft (Nasdaq: MSFT), Alphabet (Nasdaq: GOOGL), Royal Caribbean (NYSE: RCL), American Airlines (Nasdaq: AAL), Intel (Nasdaq: INTC), Snap (NYSE: SNAP), Altria (NYSE: MO), Roku (Nasdaq: ROKU), Caterpillar (NYSE: CAT), Western Digital (Nasdaq: WDC), Southwest Air (NYSE: LUV), Harley-Davidson (NYSE: HOG), Comcast (Nasdaq: CMCSA), DexCom (Nasdaq: DXCM), Merck (NYSE: MRK), Teladoc (NYSE: TDOC), Bristol-Myers Squibb (NYSE: BMY), T-Mobile US (Nasdaq: TMUS), Skechers USA (NYSE: SKX), Newmont (NYSE: NEM), Hertz Global (Nasdaq: HTZ), Laboratory Corp of America (NYSE: LH), Mobileye Global (Nasdaq: MBLY), Union Pacific (NYSE: UNP), Hess (NYSE: HES), Honeywell (Nasdaq: HON), IMAX (NYSE: IMAX), Gilead Sciences (Nasdaq: GILD), AstraZeneca (Nasdaq: AZN), ADT (NYSE: ADT), Keurig Dr Pepper (Nasdaq: KDP), Northrop Grumman (NYSE: NOC), Boston Beer Co (NYSE: SAM), Boyd Gaming (NYSE: BYD), Capital One (NYSE: COF), CubeSmart (NYSE: CUBE), Juniper Networks (NYSE: JNPR), Agnico Eagle Mines (NYSE: AEM), AllianceBernstein (NYSE: AB), A.O. Smith (NYSE: AOS), Allegion (NYSE: ALLE), AppFolio (Nasdaq: APPF), Applied Industrial (NYSE: AIT), Arch Resources (NYSE: ARCH), Arthur J. Gallagher (NYSE: AJG), Asbury Atlassian (Nasdaq: TEAM), Automotive (NYSE: ABG), AvalonBay (NYSE: AVB), Brunswick (NYSE: BC), California Water (NYSE: CWT), Carlisle Cos (NYSE: CSL), Carrier Global (NYSE: CARR), Casella Waste (Nasdaq: CWST), CBIZ (NYSE: CBZ), Check Point Software (Nasdaq: CHKP), Cincinnati Financial (Nasdaq: CINF), CMS Energy (NYSE: CMS), CNX Resources (NYSE: CNX), Columbia Sportswear (Nasdaq: COLM), Cullen/Frost (NYSE: CFR), Dover (NYSE: DOV), Dow (NYSE: DOW), DTE Energy (NYSE: DTE), Edwards Lifesciences (NYSE: EW), Eastman Chemical (NYSE: EMN), Exponent (Nasdaq: EXPO), Expro Group (NYSE: XPRO), Fair Isaac (NYSE: FICO), Federated Hermes (NYSE: FHI), First Financial Bancorp (Nasdaq: FFBC), FirstEnergy (NYSE: FE), Gaming and Leisure Properties (Nasdaq: GLPI), Grainger (NYSE: GWW), Hartford Financial (NYSE: HIG), Healthpeak Properties (NYSE: DOC), Hub Group (Nasdaq: HUBG), Insteel Industries (NYSE: IIIN), Integer Holdings (NYSE: ITGR), International Paper (NYSE: IP), KLA (Nasdaq: KLAC), Kirby (NYSE: KEX), L3Harris (NYSE: LHX), Lazard (NYSE: LAZ), Mohawk (NYSE: MHK), Nasdaq (Nasdaq: NDAQ), NerdWallet (Nasdaq: NRDS), Olin (NYSE: OLN), Oshkosh (NYSE: OSK), OSI Systems (Nasdaq: OSIS), PG&E (NYSE: PCG), Phillips Edison & Company (Nasdaq: PECO), PTC Therapeutics (Nasdaq: PTCT), Pool (Nasdaq: POOL), ResMed (NYSE: RMD), S&P Global (NYSE: SPGI), SAGE Therapeutics (Nasdaq: SAGE), Sanofi (Nasdaq: SNY), Sonic Automotive (NYSE: SAH), Southside Banc (Nasdaq: SBSI), SPS Commerce (Nasdaq: SPCS), STMicroelectronics (NYSE: STM), Terex (NYSE: TEX), Textron (NYSE: TXT), Tractor Supply Company (Nasdaq: TSCO), Tradeweb Markets (Nasdaq: TW), TransUnion (NYSE: TRU), TRI Pointe Homes (NYSE: TPH), Valero Energy (NYSE: VLO), VeriSign (Nasdaq: VRSN), Visteon (Nasdaq: VC), West Pharmaceutical Services (NYSE: WST), WEX (NYSE: WEX), Weyerhaeuser (NYSE: WY), WSFS Financial (Nasdaq: WSFS), Willis Towers Watson (Nasdaq: WTW), WNS (NYSE: WNS), Xcel Energy (Nasdaq: XEL).

Notable IPOs Today: Rubrik, Inc. (NYSE: RBRK), Loar Holdings Inc. (NYSE: LOAR), Marex Group plc Ordinary Shares (Nasdaq: MRX).

Notable Equity Crowdfunding Campaigns Ending Today: Arco Technologies (PicMii), Smart Kitchens 2.0 (PicMii), Steeped Coffee (Republic), Bold Escape Rooms (Honeycomb), QuickLoadz Intermodal Robotics (Republic), Woo More Play (StartEngine), Monte Sereno Health (Wefunder), IdentifySensors Biologics (PicMii), Grydd (PicMii).

Notable Economic Events Today: Jobless Claims (8:30 a.m. ET), GDP (8:30 a.m. ET), Goods Trade Balance (8:30 a.m. ET), Retail Inventories (8:30 a.m. ET), Pending Home Sales (10:00 a.m. ET), Pending Home Sales (4:30 p.m. ET).

IBM's Next Big Tech Acquisition

IBM (NYSE: IBM) posted mixed financial results on Wednesday and fell 8.47% in after-hours trading.

Details: The company also announced that it acquired the software business HashiCorp (Nasdaq: HCP) for $6.4 billion.

Final Thoughts: IBM was up nearly 14% in 2024 before these results.

Ford Survives EV Losses

Despite losing money for its electric vehicles business, Ford (NYSE: F) ticked up 2.39% in after-hours trading on Wednesday due to overall good financial results for the company.

Final Thoughts: On Sunday, Early Bird Prime predicted Ford’s stock would go up.

Now That’s Bad: ServiceNow Earnings Beat, Guidance Light. Software Stock Falls (Investor’s Business Daily)

Unearthing Mega Opportunities: BHP Makes Offer for Rival Anglo American in Potential Mega Mining Deal (Wall Street Journal)

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.