AmerisourceBergen Corporation (ABC) was up +6.06% to $111.92. ABC posted quarterly sales and earnings that were better than anticipated. Following this, the company has raised its annual guidance. For the first fiscal quarter ended December, the Pennsylvania-based company that provides pharmaceuticals and healthcare posted net profits of $375 million, or $1.81 a share, or 90 cents a year ago, while income increased 9.7 percent to $52.5 billion. After adjustments, earnings per share are $2.18, up 24 percent. Adjusted earnings per share outlook are improved to between $8.4 and $8.6 for 2021.
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Ford Motor Company (F) was up +1.52% to $11.37. The Michigan-owned automaker is abandoning its planned electric car joint venture with China’s Zotye Automotive, leading to significant shifts in China’s market and government policies after the 2017 and 2018 signing of the agreements. After the closing of Wall Street, the U.S. will also announce its quarterly results.
The much speculative stock of GameStop Corp. (GME) remained volatile with a fall of -42.11% to $53.5 on Thursday. U.S. Treasury Secretary Janet Yellen said that before taking further action, she and the financial authorities wanted to consider the specifics of the stock market frenzy that struck GameStop and AMC, among others. Yellen said on ABC, “We really need to make sure that our financial markets are functioning properly, effectively, and that investors are protected,” It puts together the SEC, the Fed and the CFTC authorities.
QUALCOMM Incorporated (QCOM) was down -8.83% to $147.97. For the three months ended December, its first fiscal quarter, the San Diego-based chipmaker posted sales of $8.24 billion, for adjusted earnings of $2.17 per share, compared to a forecast of $8.27 billion in revenue and $2.1 billion in EPS. For the second fiscal year, the mobile phone ‘chip’ giant predicts sales of about $6.25 billion in its key sector, which will surpass the forecasts of analysts.
