U.S. equities posted slight losses on Thursday, with telecoms and materials slipping 1.3% and 0.5%, respectively. The S&P 500 Index dipped 0.1%, the Dow Jones Industrial Average lost a fraction of a percentage, while the Nasdaq Composite was 0.1% lower by day’s end.
Here’s what you should know:
Amgen, Inc. (AMGN)
Amgen reported its fourth-quarter results late yesterday.
Ahead of Friday’s action, the biopharmaceutical company unveiled earnings of $1.94 billion, amounting to $2.59 per share. The company earned $1.8 billion, or $2.37 per share the prior year.
Excluding items, Amgen earned $2.89 per share, which topped expectations of $2.79 per share. Its rheumatoid arthritis drug Enbrel sales were higher compared to the previous quarter.
Net sales rose 8% year-over-year to $6 billion, beating the consensus estimate of $5.74 billion. For Enbrel alone, sales rose 14% to $1.64 billion compared to the same quarter in 2015.
Amgen also updated its fiscal 2017 projections, which the company believes will result in adjusted earnings in the range of $11.80 to $12.60 per share, while analysts expect earnings of $12.46 per share.
Additionally, the Thomson Reuters average estimate is for revenue of $23.3 billion, which is higher than the company’s prediction of $22.3 billion to $23.1 billion in sales.
AMGN stock experienced a 2.5% gain after the bell Thursday and is currently up 4.6% in early trading Friday.
GoPro Inc (GPRO)
GoPro reported its fiscal fourth-quarter results late in the day.
Earnings came in at 29 cents per share on an adjusted basis, beating the 22 cents per share that Wall Street predicted. Revenue was 5.7% lower year-over-year to $540.6 million.
The figure was $33.9 million lower than the $574.5 million that the consensus estimate called for. The boost experienced by the company late in the year was aided by a stronger cloud, mobile and hardware business.
“In 2017, we will build on this foundation for our customers while improving efficiency and managing cost to achieve profitability,” Nick Woodman, GoPro’s founder and CEO said in the earnings report.
GoPro believes its first quarter revenue will be in the range of $190 million to $210 million, which is significantly lower than analysts’ view of $276.6 million.
GPRO stock declined 11.5% after hours yesterday and is currently trading 13.2% lower.