Meta, Ford, Hertz, IBM… stocks to watch on Wall Street – 04/25/2024 at 3:02 am.

(AOF) –

American airlines

American Airlines is expected to rise in the premarket on Wall Street despite worse-than-expected results in the 1st quarter. expected. The US, however, expects adjusted earnings of between $1.15 and $1.45 per share for the second quarter, compared with the consensus of $1.18, due to stronger-than-expected demand.

A caterpillar

In the first quarter of 2024, Caterpillar’s sales were $15.8 billion, roughly the same as in the first quarter of 2023, due to lower sales, which were largely offset by price increases. The operating margin is 22.3% for the first quarter of 2024, compared to 17.2% for the first quarter of 2023. During this period, earnings per share reached $5.75, compared to $3.74 for the first quarter of 2023.

Ford

Ford is expected to surge in premarket trading on Wall Street after it posted quarterly results that beat expectations. The US automaker posted adjusted earnings per share of $0.49 versus the $0.42 expected, on revenue of $43 billion above consensus of $40.10 billion. Ford is still targeting annual EBIT of between $10 and $12 billion, and is raising its free cash flow forecast to between $6.5 to $7.5 billion versus $6 to $7 billion previously.

Hertz

Hertz is expected to fall in the premarket on Wall Street due to less-than-expected results in the 1st quarter. The US car rental company posted a net loss of $1.28 per share (or $392 million) in the period compared to an expected $0.45 , despite sales increasing 2% to $2.1 billion. Hertz blames the cost on the car’s depreciation and operating costs. “We are positioning ourselves to benefit from the strong demand for travel in this transitional year,” emphasizes CEO Gil West.

IBM

IBM is expected to be in the red after announcing disappointing earnings. In the first quarter, the IT giant recorded a net profit of $1.6 billion, or $1.72 per share compared to a profit of $927 million and $1.01, respectively, last year. Excluding one-time items, earnings per share came to $1.68, 8 cents better than consensus.

Merck

Merck is expected to rise in the premarket on Wall Street after posting better-than-expected results in the 1st quarter. The US pharmaceutical group posted adjusted earnings per share of $2.07 vs. $1.88 expected, on sales of $15.77 billion vs. $15.19 billion expected . Merck raised its 2024 earnings per share, expecting between $8.53 and $8.65, from $8.44 to $8.59 previously. Keytruda saw its sales increase 20% to $6.9 billion during the period.

Meta

Meta, the parent company of Facebook and Instagram, is expected to decline sharply after announcing a huge increase in its investment and disappointing prospects. In the first quarter, its net profit more than doubled, to $12.37 billion, or $4.71 per share. The deal was for just $4.33 per share. Its sales increased by 27% to 36.455 billion dollars while the market target was 36.16 billion dollars.

Newmont

In the first quarter of 2024, Newmont’s sales reached $4.02 billion compared to $2.67 billion a year ago in the same period. Over the first three months of 2024, net income reached $179 million compared to $363 million in the first quarter of 2023. Over this first quarter, adjusted EBITDA stood at $1.694 billion compared to $990 million the year before. Over a year, free cash flow remains negative, from $45 million to $74 million between the first quarter of 2023 and the first quarter of 2024.

Southwest Airlines

Southwest Airlines is expected to fall sharply in pre-market trading on Wall Street after it posted below-expected first-quarter results. The US airline posted a net loss of $231 million against an expected $190.88 million. At $6.3 billion, quarterly operating income fell short of consensus of $6.42 billion. Southwest is announcing a “difficult decision” to suspend operations at four US airports, as part of its “network improvement efforts to address underperforming markets.”