Stock Market Highlights Before Market Open
Delta Air Lines Surged 6% on Strong Q4 Earnings
Delta Air Lines saw a 6% jump in its stock as it reported better-than-expected fourth-quarter earnings. The company posted adjusted earnings of $1.85 per share on $14.44 billion in revenue, surpassing analyst expectations.
Walgreens Boots Alliance Soared 11% in Fiscal Q1
Walgreens Boots Alliance recorded a surge of 11% as it exceeded estimates in its fiscal first quarter. The company reported 51 cents in adjusted earnings per share on $39.46 billion in revenue, surpassing analyst forecasts.
Constellation Energy Acquires Calpine, Shares Rally 9%
Constellation Energy confirmed its acquisition of Calpine, causing a 9% rally in its shares. The company also provided guidance for its full-year adjusted earnings per share, exceeding analyst expectations.
Edison International Slides 2.7% Amid Los Angeles Wildfires
Edison International faced a 2.7% decline as wildfires continued to ravage Los Angeles. The utility provider denied involvement in starting the wildfires but has been asked to preserve evidence by insurance companies.
Property and Casualty Insurers Drop Amid Wildfire Estimates
Allstate, Travelers, and Chubb, property and casualty insurers, experienced a decline as estimates of insured losses from the wildfires in Los Angeles rose. The wildfire event is predicted to be the costliest in history.
On Semiconductor Falls 2.7% Post Downgrade
On Semiconductor witnessed a 2.7% drop following a downgrade by Truist. The stock is being approached cautiously until lower estimates are set.
Other Market Movements
Several other stocks, including eVTOL companies like Archer Aviation and Joby Aviation, as well as companies like Sunrun, Hims & Hers Health, and Roku, experienced shifts in their stock prices based on market updates and analyst recommendations.
