Yahoo Finance Trending tickers: Intel, Visa, Paypal and WH Smith
The latest investor updates on stocks that are trending on Friday
Intel (INTC)
Intel shares dropped more than 10% in after hours trading as the chipmaker issued an outlook for the first quarter of 2024 that lagged analyst forecasts.
For the first quarter, Intel said it expects adjusted earnings per share to total $0.13, below the $0.34 analysts were expecting, according to data from Bloomberg. Revenue in the current quarter is expected to come in between $12.2bn (£9.6bn) to $13.2bn. Analysts had expected first quarter revenue to come in closer to $14.2bn.
In the fourth quarter, Intel reported adjusted earnings per share of $0.54, better than the $0.44 expected by analysts, while revenue came in at $15.4bn, better than the $15.2bn expected.
Intel posted net income of $2.7bn, or 63 cents per share, compared to a net loss of $700m, or 16 cents per share, last year.
Intel shares are up over 74% over the past year.
Visa (V)
Visa said profit climbed in its fiscal first quarter, citing resilient consumer spending, but was down by almost 3% in after hours trading.
Visa reported fiscal first quarter adjusted earnings of $2.41 per share and revenue of $8.6bn, up more than 9% from a year earlier. Analysts expected Visa to report December quarter earnings of $2.34 a share and revenue of $8.5bn.
The company saw an 8% boost in payments volume during the latest quarter, while processed transactions rose by 9%.
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"Our 2024 fiscal year is off to a solid start. In our first quarter, net revenues grew 9% and GAAP EPS grew 20%, driven by relatively stable growth in overall payments volume and processed transactions, plus strong growth in cross-border volume," said Visa CEO Ryan McInerney.
Shares were up 21% in the past 12 months.
Paypal (PYPL)
PayPal stock fell 4% on Thursday and slipped over 1% in after hours trading after the payments company unveiled six AI-driven product enhancements that failed to impress the market.
The products include Fastlane by PayPal, an online checkout system that enables consumers to pay with a one-time passcode in a few taps. A 'smart receipts' feature will use AI to predict what shoppers may want to buy next from the merchant is also part of the new AI-features suite.
"The outcomes of the innovations ... are promising and should improve consumer and merchant experiences," Andrew Harte, an analyst at BTIG, said in a research note reported by Reuters.
Read more: Stocks that are trending today
"That said, we do not think investors will view any of them as groundbreaking new information, but instead initiatives they would have expected the company to already be working on."
The company's stock is down more than 20% since last January.
WH Smith (SMWH.L)
WH Smith has said it is on track to open 110 shops this financial year as the retailer was boosted by strong UK trade.
Group revenues increased by 8% over the 20 weeks to January 20, compared with the same period last year.
Travel sales grew by 15% over the period, with its UK travel stores benefiting from improving passenger numbers at airports.
“The return of near normality in air travel has been a particular boon to this segment of the group. In addition, research suggests that air passenger numbers will finally return to pre-pandemic levels during the course of this year,” Richard Hunter, head of markets at Interactive Investor, said.
“Indeed, revenues in these sites have shown strong growth compared to the corresponding period, with sales up by 14% in airports, 17% in hospitals and 18% in rail,” he added.
Watch: Intel may have 'overshipped a bit' in Q4, analyst says
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