AbbVie Inc (NYSE:ABBV) (CNBC)
AbbVie, the maker of the world’s best selling drug, reported fourth-quarter profit on Friday that beat Wall Street estimates on strong sales for its blockbuster drug Humira. Shares of the company rose 3.4 percent to $112 before the bell and were set to open at a record high after the U.S. drugmaker raised its 2018 earnings forecast on lower tax rates and expectations of higher operating performance. The Chicago-based drugmaker said it expected full-year adjusted earnings per share to be between $7.33 and $7.43, higher than its prior forecast of $6.37-$6.57.
Intel Corporation (NASDAQ:INTC) (MarketWatch)
Intel Corp. INTC, +8.87% shares rose 9% in Friday trading, putting the company on track for its largest one-day gain in almost nine years after a strong earnings report led multiple analysts to raise their price targets. The chip giant posted blowout earnings late Thursday and also reported December-quarter revenue ahead of consensus estimates. Investors were also pleased to hear management say that chip-security flaws Meltdown and Spectre weren’t expected to have “any material impact” on product costs, though the company updated its risk factors to include the possibility of the security exploits affecting results.
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Wynn Resorts, Limited (NASDAQ:WYNN) (Bloomberg)
Wynn Resorts Ltd. shares sank more than 5 percent after the Wall Street Journal reported that its founder, casino industry legend Steve Wynn, had a pattern of sexually harassing women. Wynn, who’s also the finance chairman for the Republican National Committee, paid $7.5 million to settle claims brought by a former manicurist at his resort who said the executive pressured her to have sex with him, the Journal said. Wynn asked massage therapists to perform sexual acts on him for $1,000 tips, and others at the spa created fictitious appointments to avoid contact with him, the newspaper said in a report for which it contacted more than 150 people who have worked with the casino magnate.
MannKind Corporation (NASDAQ:MNKD) (The Motley Fool)
What happened: After gaining more than 40% Thursday on a possible short squeeze, MannKind Corp. (NASDAQ:MNKD)stock is reverting to the mean today on heavy volume. Specifically, the drugmaker’s shares are down by 17% at 11 a.m. EST. What’s driving this whipsaw trading pattern? Unfortunately, the underlying cause isn’t readily apparent due to the lack of any news from the company. But this downward trajectory might reflect short-sellers jumping back in after yesterday’s putative squeeze.
Starbucks Corporation (NASDAQ:SBUX) (MarketWatch)
Shares of Starbucks Corp. SBUX, -5.95% fell more than 3% late Thursday after the company reported same-store sales below expectations and narrowly missed sales forecasts. Starbucks said it earned $2.25 billion, or $1.57 a share, in the quarter, compared with $752 million, or 51 cents a share, in the year-ago period. Adjusted for one-time items, Starbucks earned 65 cents a share, including a 7-cent benefit from the U.S. tax overhaul.
Dell Technologies Inc (NYSE:DVMT) (Benzinga)
Dell Technologies Inc shares dropped 7.85 percent to $81.5015 following WSJ report late Thursday suggesting that the company is exploring strategic alternatives, which could include an IPO and a deal with VMware.
Colgate-Palmolive Company (NYSE:CL) (MarketWatch)
Colgate-Palmolive Co. CL, -5.70% shares fell 3.1% in Friday premarket trading after the consumer products company said growth in 2018 would be challenged. Net income totaled $323.0 million, or 37 cents per share, down from $606.0 million, or 68 cents per share, for the same period last year. Adjusted EPS was 75 cents. Revenue of $3.89 billion was higher than the $3.72 billion reported last year.
Aspen Insurance Holdings Limited (NYSE:AHL) (The Motley Fool)
What happened: Aspen Insurance Holdings (NYSE:AHL), which provides insurance and reinsurance in many markets around the world including the United States, reported a preliminary estimate of its fourth-quarter underwriting loss. Investors were clearly disappointed with the news, as the stock was down by more than 10% as of 10:30 a.m. EST on Friday. So what: Aspen announced that it expects a total underwriting loss of about $245 million for the fourth quarter, the bulk of which ($135 million) is related to the California wildfires.
VMware, Inc. (NYSE:VMW) (Benzinga)
VMware, Inc. rose 11.9 percent to $154.03 following WSJ report late Thursday suggesting that Dell is exploring strategic alternatives, which could include an IPO and a deal with VMware.
