Palantir Technologies reported fourth-quarter earnings results Tuesday, posting a wider-than-expected loss while beating revenue forecasts. Revenue was mainly driven by the government segment which grew 85% year over year, reaching $190 million. Shares declined 6% in premarket trading as investors were shocked to see the loss.
Tag: Fourth Quarter Results
Kraft Heinz Sells Nuts Business To Hormel Foods For $3.35 Billion
Kraft Heinz is selling its nuts business, Planters, to Hormel Foods Corp in an all-cash deal of $3.35 billion as the company trims underperforming brands to focus more on successful brands. For Hormel, the addition will bolster its existing snack portfolio at a time when people are consuming more at home.
Tyler Technologies To Buy NIC For $2.3 Billion In Cash
Tyler Technologies and NIC Inc jointly announced their decision to merge today in an all-cash deal which values the company at $2.3 billion. The merger will combine Tyler’s strength in local government and NIC’s power in state government. Shares of NIC soared 15.5% in premarket trading while Tyler shares dipped slightly.
Zimmer Biomet To Spin Off Spine & Dental Businesses As Earnings Top Estimates
Zimmer Biomet revealed its plan to spin off its Spine and Dental businesses into an independent company to help the company enhance its focus on high priority areas. The company also posted earnings results that exceeded expectations.
GE Shares Jumps As General Electric Tops Free Cash Flow Estimates
General Electric slightly missed earnings forecasts but posted an exceptional free cash flow of $4.4 billion. GE expects earnings to rise between 15 cents and 25 cents per share in 2021. Shares soared 10% post the news.
IBM Shares Plunge As Revenue Declines For Another Quarter
IBM earnings top Wall Street estimates yet revenue declines for a straight fourth quarter with Red Hat driving most revenues. As the company steers into new segments led by mergers & acquisitions, it expects to focus more on its new strategy after spinning off its legacy managed infrastructure services division.
United Airlines Posts $7.1 Billion Loss For 2020, Gives Positive Outlook
United Airlines revealed a loss of $1.9 billion for the fourth quarter Wednesday. With the increasing development of vaccines, the airline hopes to return to the pre-pandemic level of profit by 2023. Shares plunged by 6.2% during trading.
UnitedHealth Group Posts Earnings Exceeding Estimates Amid Increasing Medical Costs
UnitedHealth Group released fourth-quarter results Wednesday, topping Wall Street’s estimates of profit and revenue. The increasing medical costs of the Group’s Insurance business UnitedHealthcare were offset by earnings of the Group’s medical services business, Optum. Shares rose slightly in the premarket trading post the earnings release.
Goldman Sachs Shatters Investors’ Estimates, Posts Impressive Profit
Goldman Sachs reported fourth-quarter earnings of $12.08 per share, beating analysts’ forecasts of $7.47 per share. Revenue went $1.75 billion above estimates, majorly contributed by investment banking and equity trading.
Bank of America Tops Fourth-Quarter Profit Estimates
Bank of America released fourth-quarter earnings Tuesday exceeding analysts’ estimates for profit while revenue fell short. The bank has pledged to buyback $2.9 billion worth of shares this quarter. Shares fell 1.4% to $32.55 in pre-market trading.