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Berkshire (BRK.A) (BRK.B) power company will have to pay $62 million to Oregon homeowners for the 2020 wildfires. (00:25) Southwest Airlines (LUV) flight attendants vote to authorize a strike. (01:26) Netflix (NFLX) Earnings Announcement: Live and Advertising Expansion. Growth through high-priced subscriptions. (02:42)
This is a summary transcript of the podcast.
PacifiCorp, the power company owned by Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), has been ordered to pay at least $62 million by an Oregon jury. The money will go to nine survivors of the 2020 Labor Day wildfires that devastated the state.
A jury in Portland, where PacifiCorp is based, awarded homeowners approximately $6.3 million in compensation for property damage and other economic losses and approximately $56 million for emotional pain, pain and suffering. I made a judgment to pay.
The $62 million amount increases to $85 million when punitive damages are included, according to the report.
The jury's verdict was the second such award in connection with a fire that killed nine people and caused nearly $1.9 billion in property and other damages, according to state estimates.
PacifiCorp could be liable for billions of dollars in damages to thousands of homeowners affected by the fires. ~5,000 homeowners and business owners filed a class action lawsuit against the company in 2020.
Southwest Airlines (NYSE:LUV) flight attendants voted almost unanimously in favor of authorizing a strike.
Transportation Workers Union Local 556, the union representing Southwest Airlines flight attendants, said if an agreement cannot be reached with the airline, the union could request a 30-day cooling-off period, after which the Thousands of Southwest Airlines (LUV) flight attendants will be placed on cooling off, it said. You are free to attack.
The flight attendants have been working without a contract since their last contract expired in October 2018. Last month, unions rejected a proposal by Southwest Airlines (LUV) for an immediate 20% pay increase and an additional 36% increase over five years under the new system. contract.
In addition to higher wages, unions are demanding pay for hours worked, breaks between shifts, control over schedules, access to food and safe places to rest while traveling.
The largest number of flight attendants approved the strike in a vote Monday among Southwest Airlines (LUV) pilots who agreed to a new contract with a 29.15% pay increase in the first year and a 4% increase annually thereafter until 2027. This is thought to be because it was approved. .
If the two sides cannot agree on a new contract, the union has scheduled a “world day of action” on February 13.
Netflix (NASDAQ:NFLX) is up nearly 10% in early trading after reporting fourth-quarter earnings.
The company posted its best customer growth since the coronavirus pandemic boost and beat revenue expectations.
The number of paid streaming subscribers worldwide reached 13.12 million, an increase of 12.8% from the previous year to 260.28 million.
Meanwhile, revenue returned to double-digit growth, increasing 12.5% to $8.83 billion, beating the consensus of $8.71 billion.
Netflix (NFLX) expects first-quarter revenue to increase 13% (including 3% currency headwinds, implying 16% on a currency-neutral basis).
On the earnings call, Chief Financial Officer Spence Newman said some of the revenue would come from increased headcount and expanded advertising, but added that “additions will be the main driver in 2024.” Deaf,” he said.
In Catalyst Watch of the day,
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Nasdaq is scheduled to release an update on short positions.
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12:00 PM Jack in the Box (JACK) will host its 2024 Investor Day event with presentations from management.
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At 5:30 p.m., Tesla (TSLA) will hold an earnings conference. The electric vehicle sector will be watching closely to see what the company says about its 2024 production forecast and profit margin outlook. Options trading suggests a 7% move in Tesla's stock price following the earnings release. Notably, Tesla is down 9% since its last earnings report. Over the past two years, the stocks with the closest correlation to Tesla on their earnings day are Rivian Automotive (RIVN) and Polestar Automotive (PSNY).
Texas Instruments (NASDAQ:TXN) is down 4% premarket after the company reported fourth-quarter results and guidance that were significantly lower than expected, according to an update on Earnings Watch on Tuesday. .
Looking ahead, Texas Instruments expects first-quarter revenue to be between $3.45 billion and $3.75 billion, lower than the $4.09 billion that analysts had expected. First-quarter earnings are expected to be between $0.96 and $1.16 per share, well below expectations of $1.42 per share.
Outlook for today's earnings. In addition to today's announcements from Tesla (TSLA), Abbott Laboratories (ABT), IBM (IBM), AT&T (T), General Dynamics (GD), and CSX (CSX), Las Vegas Sands (NYSE:LVS) is also scheduled to make an announcement. I am. The fourth quarter results will be announced after the market closes today. The consensus EPS estimate is $0.61 (+421.1% year-over-year) and the consensus revenue estimate is $2.88 billion (+157.1% year-over-year). Over the past two years, LVS has exceeded his EPS estimates by 38% and exceeded his revenue estimates by 50%.
Other notable articles on Seeking Alpha:
Verizon reaches its highest level in more than a year as it supports growth in its wireless communications business
Secure your Tesla profits by combining lots of wildcards
Apple scales back car projects as Waymo, Huawei and Xiaomi power up
U.S. stocks ended mixed on Tuesday.
The Nasdaq Composite Index (COMP.IND) closed 0.43% higher, while the S&P 500 Index (SP500) rose 0.29%. The Dow Jones Industrial Average (DJI) fell 0.44%.
Six of the S&P's 11 sectors ended in the red.
Now let's take a look at the market price as of 6am. Dow, S&P, and Nasdaq futures are in the green ahead of today's opening bell. The Dow rose 0.3%, the S&P 500 rose 0.5% and the Nasdaq rose 0.8%. Crude oil is down 0.08% at more than $74 per barrel. Bitcoin rose 3.5% to over $40,000.
In global markets, the FTSE 100 rose 0.6% and the DAX rose 1.2%.
The biggest move of the day: SAP (NYSE:SAP) after the company reported fourth-quarter results and revealed plans to restructure 8,000 jobs to fuel growth in artificial intelligence. Increased by 6%.
Today's economic calendar:
