Sunday, 3 Mar 2024

AutoNation Inc. Q4 Profit Decreases, but beats estimates

Pre-market Movers: XPON, HPCO, LYFT, PHAT, AVXL…

The following are some of the stocks making big moves in Friday’s pre-market trading (as of 06.45 A.M. ET).

In the Green

Expion360 Inc. (xpon) is up over 56% at $3.10.
enCore Energy Corp. (EU) is up over 13% at $2.67.
Anavex Life Sciences Corp. (AVXL) is up over 12% at $11.69.
Sentage Holdings Inc. (SNTG) is up over 12% at $2.59.
Gossamer Bio, Inc. (GOSS) is up over 12% at $2.57.
Lannett Company, Inc. (LCI) is up over 11% at $3.24.
Alteryx, Inc. (AYX) is up over 10% at $66.23.
Cloudflare, Inc. (NET) is up over 6% at $62.00.
Bloom Energy Corporation (BE) is up over 6% at $25.20.
Hesai Group American Depositary Share, (HSAI) is up over 6% at $22.47.

In the Red

Hempacco Co., Inc. (HPCO) is down over 53% at $2.06.
Lyft, Inc. (LYFT) is down over 33% at $10.75.
Phathom Pharmaceuticals, Inc. (PHAT) is down over 17% at $9.49.
Osisko Development Corp. (ODV) is down over 11% at $4.92.
Spruce Biosciences, Inc. (SPRB) is down over 11% at $2.66.
AMC Entertainment Holdings, Inc. (APE) is down over 9% at $2.45.
Banco Bradesco S.A. (BBD) is down over 9% at $2.40.
Doximity, Inc. (DOCS) is down over 6% at $34.07.
Silvergate Capital Corporation (SI) is down over 6% at $14.75.
Nabors Industries Ltd. (NBR) is down over 5% at $163.49.

India Industrial Production Growth Slows

India’s industrial production grew less than expected in December, with the pace slowing sharply from the previous month, preliminary figures from the statistics ministry showed Friday.

The industrial production index rose 4.3 percent year-on-year following a 7.3 percent increase in November. Economists had expected a 4.5 percent gain.

In the same month a year ago, the industrial production grew 1.0 percent.

Read more: India Manufacturing Growth Remains Strong

Manufacturing output rose 2.6 percent annually in December. Electricity generation grew 10.4 percent and the mining sector production increased 9.8 percent.

Within manufacturing, production of pharmaceuticals, medicinal chemical and botanical products registered the biggest growth of 16.0 percent. Food production grew 1.2 percent.

The computer, electronic and optical products segment registered the worst fall in output of 37.0 percent.

India’s factory activity continued to expand strongly in January despite slower rises in new orders and output amid weaker foreign demand, results of the purchasing managers’ survey from S&P Global showed last week.

Oil Extends Losses On Supply, Rate Worries

Oil prices tumbled on Friday and headed for weekly losses amid signs of amply supply and concerns over rising U.S. interest rates.

Benchmark Brent crude futures fell 1.5 percent to $83.89 a barrel, while WTI crude futures were down 1.5 percent at $77.30.

Benchmarks headed for a weekly decline of more than 3 percent as world oil supply looks set to exceed demand through the first half of 2023.

Russian oil producers expect to maintain current volumes of crude oil exports, despite the government’s plan to cut oil output by 500,000 barrels per day, or around 5 percent of output, in March, the Vedomosti newspaper reported, citing sources.

Data from Energy Information Administration (EIA) on Wednesday showed crude stockpiles rose by 16.3 million barrels to 471.4 million barrels during the week ended February 10, marking an eighth straight weekly rise and the highest level since June 2021.

Oil prices were also pressured by a stronger dollar and a rise in U.S. Treasury yields after two Federal Reserve officials said interest rates may need to move to a higher level than anticipated.

Pre-market Movers: SNTG, CSWC, AMAM, IXHL, MYNA…

The following are some of the stocks making big moves in Friday’s pre-market trading (as of 07.00 A.M. ET).

In the Green

Sentage Holdings Inc. (SNTG) is up over 15% at $2.45.
Capital Southwest Corporation (CSWC) is up over 14% at $22.00.
Incannex Healthcare Limited (IXHL) is up over 14% at $3.35.
Universal Security Instruments, Inc. (UUU) is up over 13% at $2.50.
Companhia Energética de Minas Gerais (CIG) is up over 12% at $2.31.
InVivo Therapeutics Holdings Corp. (NVIV) is up over 12% at $2.29.
bioAffinity Technologies, Inc. (BIAF) is up over 11% at $2.48.
IVERIC bio, Inc. (ISEE) is up over 10% at $22.00.
HIVE Blockchain Technologies Ltd. (HIVE) is up over 10% at $3.65.
HubSpot, Inc. (HUBS) is up over 9% at $398.02.
DraftKings Inc. (DKNG) is up over 9% at $19.42.
Kalera Public Limited Company (KAL) is up over 9% at $6.35.
ShockWave Medical, Inc. (SWAV) is up over 6% at $204.00.
AMC Networks Inc. (AMCX) is up over 6% at $21.88.

In the Red

Ambrx Biopharma Inc. (AMAM) is down over 14% at $2.37.
Mynaric AG (MYNA) is down over 13% at $5.60.
XP Inc. (XP) is down over 12% at $13.91.
Stem, Inc. (STEM) is down over 8% at $8.94.
Moderna, Inc. (MRNA) is down over 6% at $161.40.
Texas Roadhouse, Inc. (TXRH) is down over 6% at $98.49.
American Equity Investment Life Holding Company (AEL) is down over 6% at $44.07.
NatWest Group plc (NWG) is down over 6% at $6.93.
Emergent BioSolutions Inc. (EBS) is down over 5% at $13.98.

AutoNation Inc. Q4 Profit Decreases, but beats estimates

AutoNation Inc. (AN) reported a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company’s earnings totaled $286.4 million, or $5.72 per share. This compares with $387.1 million, or $5.87 per share, in last year’s fourth quarter.

Excluding items, AutoNation Inc. reported adjusted earnings of $319.2 million or $6.37 per share for the period.

Analysts on average had expected the company to earn $5.83 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 1.8% to $6.70 billion from $6.58 billion last year.

AutoNation Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $286.4 Mln. vs. $387.1 Mln. last year.
-EPS (Q4): $5.72 vs. $5.87 last year.
-Analyst Estimates: $5.83
-Revenue (Q4): $6.70 Bln vs. $6.58 Bln last year.

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