Hot Market News
🔴 CSX reported earnings and revenue figures that just beat analyst expectations, but the stock slipped 0.2%. The rail-freight company earned 49 cents per share on revenue of $3.73 billion. Analysts polled by Refinitiv expected earnings of 46 cents per share on revenue of $3.72 billion. Source: cnbc.com
⚪️ Chevron Corp said it would triple its budget for share buybacks to $75 billion, the oil industry's most ambitious shareholder payouts to date, as high oil and gas prices pad profits. Source: investing.com
🟢 Tesla shares rose 0.4% in volatile trading after the electric-vehicle maker reported earnings and revenue for the fourth quarter that beat analyst expectations. However, Tesla’s gross margins came in at the lowest levels in the past five quarters. Source: cnbc.com
🔴 Alphabet shares shed 2.54%, a day after the Justice Department filed a second antitrust lawsuit against Google. Alphabet also laid off 1,800 employees in California on Wednesday as part of the larger cuts announced last week. Source: cnbc.com
🔴 IBM announced 3,900 layoffs as part of some asset divestments and missed its annual cash target, dampening cheer around beating revenue expectations in the fourth quarter. Shares of the company fell 2% in extended trading. Source: investing.com
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