Yahoo Finance Trending tickers: Dell, NYCB, ITV, SoundHound AI
Dell (DELL)
Dell shares are up 21% in premarket trade after reporting fourth-quarter earnings results on Thursday.
The computer company posted $22.3bn (£17.6bn) in revenue — against estimates of $22.2bn – and saw adjusted EPS gains of $2.20 – against estimates of $1.72 per share. Dell will be raising its dividend to shareholders to $1.78 per share.
The PC business has, like other tech companies, ramped up its interest in artificial intelligence (AI), with a specialism in running high-powered servers designed to take on increasing computing power needed for AI workloads.
The infrastructure unit alone posted revenue of $9.3bn in Q4 — a figure which topped estimates. Its increase in sales was powered by AI-optimised servers, the company said.
New York Community Bankcorp (NYCB)
Shares in NYBC look set to drop off a cliff at the open following a dramatic disclosure on Thursday. The CEO Thomas Cangemi has exited the business as it revealed a weaknesses in its internal controls and a tenfold increase in its fourth-quarter loss to $2.7bn.
The new disclosures are the latest twist in a month-long saga roiling a lender that played the role of rescuer just a year ago during the 2023 regional banking crisis. NYCB's stock began falling on 31 January when it surprised analysts by slashing its dividend, setting aside more for loan losses and reporting a net quarterly loss of $252m.
Now the $114bn bank, one of the 30 largest in the US, says in a new filing that the fourth-quarter loss was amended to $2.7bn due to a new $2.4m goodwill impairment charge.
Shares are down around 29% in premarket.
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ITV (ITV.L)
British TV company ITV stock is rally ing in pre-lunch time trade on Friday, rising around 14% as it revealed a deal to sell the international 50% stake in subscription streaming service BritBox for $322m.
BBC Studios agreed to buy the streamer in the biggest ever single transaction for the BBC’s commercial wing.
The proceeds are set to be returned to shareholders through a share buyback scheme that will launch after full-year results are posted on 7 March, a regulatory note said.
SoundHound AI (SOUN)
SoundHound AI's stock has swung wildly over the past couple of days, charging 17% higher on Thursday, and diving 18.6% lower in premarket on Friday as it clocked a miss in its latest earnings report.
The company reported $17.1m revenue and slightly wider than expected losses of $0.07 per share.
Nvidia (NVDA) now owns a stake in the AI company, a fact that was reported earlier in the week causing its stock to nearly double in price as a result.
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