U.S. stock futures are currently trending downward as major indexes have recently approached or reached all-time highs. Following a day of positive earnings reports and favorable comments from President Donald Trump, S&P 500 futures are slightly lower after the index achieved a record closing high.
Market Overview
Similarly, futures for the Nasdaq and Dow Jones Industrial Average are also trending downwards. In the cryptocurrency market, Bitcoin has gained over 1%, trading above $105,000, while yields on the 10-year Treasury note remain stable. Additionally, both oil and gold futures are experiencing upward movements.
Company Highlights
Novo Nordisk, known for its weight-loss drugs Ozempic and Wegovy, is seeing a significant increase in its U.S.-listed shares, which have surged 14% in premarket trading. This rise follows the announcement of positive results from a Phase 1b/2a clinical trial for its new weight-loss treatment, amycretin.
- The trial showed that participants could achieve weight loss of up to 22% after 36 weeks on a 20mg weekly injection.
- However, despite this positive news, Novo Nordisk’s shares have declined over 20% in the past year due to investor concerns regarding other trial outcomes.
Boeing’s Financial Forecast
Boeing’s stock is down more than 1% in premarket trading after the company projected a much larger-than-expected loss for the fourth quarter. The anticipated loss is $5.46 per share, significantly higher than the $1.40 per share consensus from analysts.
This forecast follows a nearly two-month strike that severely affected production capabilities. Boeing’s projected revenue of $15.2 billion also falls short of analysts’ expectations, which were set at $16.3 billion.
American Express Results
American Express has reported its fourth-quarter results for fiscal 2024, which largely meet analyst expectations. The financial services firm reported a net income of $2.17 billion, or $3.04 per share, on revenue of $17.18 billion.
- Analysts had anticipated a profit of $2.17 billion, or $3.05 per share, with revenue expectations of $17.17 billion.
- The CEO noted stronger spending from both consumer and commercial customers during the holiday season, indicating a positive trend in consumer behavior.
Verizon’s Performance
Verizon Communications has exceeded expectations with its fourth-quarter results, driven by an increase in wireless subscribers. The company reported a consolidated net income of $5.11 billion, or $1.18 per share, on revenue of $35.68 billion.
Analysts had predicted a profit of $4.74 billion, or $1.09 per share, with revenue expectations of $35.36 billion. In the fourth quarter, Verizon added a net 568,000 wireless customers and 408,000 broadband customers, an increase from the previous year when it gained 449,000 and 413,000 subscribers, respectively.
Despite these positive results, Verizon’s shares remained relatively unchanged in premarket trading.
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