In a dynamic day for the markets, several major companies reported earnings that sent their stocks on varied trajectories. Kimberly-Clark saw a 1% decline in its stock following fourth-quarter earnings that narrowly missed expectations. Meanwhile, Royal Caribbean exceeded forecasts with its first-quarter and full-year earnings guidance, causing its stock to surge nearly 6%. Lockheed Martin didn't fare as well, with its fourth-quarter revenue of $18.62 billion falling short of the anticipated $18.91 billion. General Motors surprised analysts by reporting $1.92 per share in earnings, significantly surpassing the projected $1.38 per share.
JetBlue's capital expenditure announcement added to the day's financial updates, projecting $1.4 billion, which exceeded FactSet analysts' forecast of $1.25 billion. Despite this increase in spending, JetBlue reported a smaller-than-expected adjusted loss of 21 cents per share, outperforming the anticipated 31 cents loss predicted by analysts polled by LSEG.
Kimberly-Clark's financial performance came under scrutiny as it reported $1.50 in adjusted earnings per share, slightly below Wall Street’s projection of $1.51. In contrast, RTX delivered a strong fourth-quarter performance, surpassing analyst expectations and witnessing a 4% rise in its shares. AutoDesk also saw its shares advance over 2% after Mizuho Securities upgraded it from neutral to outperform, with the company reporting revenue of $2.28 billion against the expected $2.25 billion.
Boeing faced challenges, reporting an adjusted loss of $5.90 per share, a significant miss from the expected $3 loss indicated by analysts polled by LSEG. Additionally, Boeing's fourth-quarter revenue of $15.24 billion fell short of the $16.21 billion forecasted.
The market was further buoyed by Royal Caribbean Cruises' earnings beat for the fourth quarter, contributing to a nearly 6% rise in its stock price. General Motors also impressed with its revenue figures, bringing in $47.70 billion as opposed to the anticipated $20.54 billion.