US Bancorp saw its shares decline by 2.9% following the release of mixed fourth-quarter results. While the bank's adjusted earnings per share of $1.07 narrowly surpassed the LSEG consensus estimate, its net interest margin of 2.71% fell just short of the anticipated 2.72%. Conversely, Bank of America reported fourth-quarter results that exceeded expectations, providing a positive note amid a day of fluctuating stock performances.
UnitedHealth Group experienced a more significant drop, with shares decreasing over 3% after falling short of Wall Street's revenue expectations. The healthcare giant reported $100.81 billion in revenue, whereas analysts surveyed by LSEG were expecting a figure closer to $101.76 billion. Meanwhile, Morgan Stanley enjoyed a modest 1% increase in its stock value after surpassing Wall Street estimates, buoyed by a 29% gain in investment banking revenue for the quarter.
Elsewhere in the market, Southwest Airlines' stock fell 2% following Citi's downgrade from neutral to sell. On the other hand, Taiwan Semiconductor Manufacturing provided a bright spot with a 4% uptick in its shares. The company raised its revenue guidance for the current quarter to between $25 billion and $25.8 billion, surpassing analysts' expectations that stood at $24.6 billion.
DuPont De Nemours' shares remained flat after announcing it would not proceed with spinning off its water division. In contrast, Sezzle, a fintech company, saw its stock surge by 26% after updating its guidance, forecasting full-year revenue growth to exceed its previous 55% growth target.
Target remains optimistic as it projects a 1.5% increase in comparable store sales for the fourth quarter, signaling potential growth despite a challenging retail environment.