S&P 500 ticks higher after latest batch of earnings reports: Live updates

Shares of Philip Morris rallied more than 9% after the tobacco reported fourth-quarter results that beat analyst expectations.

The company earned an adjusted $1.55 per share on revenue of $9.71 billion. Analysts expected a profit of $150 per share on revenue of $9.44 billion, according to FactSet. The company attributed the results to strong sales from its smoke-free products, including its Zyn nicotine pouches.

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It was a very happy holiday for the Coach brand. Tapestry shares are up 16% after the luxury retailer saw an 11% jump in sales at its Coach brand, hitting a new all-time intraday high. Trends were weaker at its Kate Spade and Stuart Weitzman labels. However, the company predicts 2025 revenue will rise 3% to more than $6.85 billion, which is a quicker pace than the prior foecast of 1% to 2% sales growth. And, even more encouraging, Tapestry said it doesn’t expect an additional 10% tariff on goods from China to hurt its results.

Tapestry shares have been a stellar performer since its merger with Capri was blocked by a U.S. judge in October. Over the past six months, shares have gained 135%.

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The cost of labor increased less than expected in the fourth quarter, the Bureau of Labor Statistics reported Thursday.

Unit labor costs, which measure compensation minus productivity, rose at a seasonally adjusted annualized rate of 3% for the October-through-December period in 2024. That was smaller than the 3.3% Dow Jones estimate and brought the cost increase over the four-quarter period to 2.7%.

Labor productivity rose 1.2% for the period, below the 1.4% estimate and brought the annual rate down to 2.3%.

—Jeff Cox

Check out some of the companies making headlines in premarket trading.

• Ford — The automaker’s shares dropped more than 5% in premarket trading after the company issued soft 2025 guidance, citing “headwinds related to market factors.” Ford did beat Wall Street’s fourth-quarter expectations, however.
• Bristol Myers Squibb — Shares pulled back nearly 6% after its full-year outlook missed Wall Street estimates. The biopharmaceutical company expects full-year revenue of roughly $45.5 billion, while analysts surveyed by LSEG were looking for $47.36 billion.
• Qualcomm — The semiconductor stock declined 5% despite the company reporting better-than-expected quarterly results and forward guidance. Qualcomm earned $3.41 per share on an adjusted basis on revenue of $11.67 billion, while analysts polled by LSEG forecast earnings of $2.96 per share and $10.93 billion in revenue.

Read the full list here.

— Brian Evans

Initial claims for unemployment insurance increased more than expected last week but generally remained within the recent range, the Labor Department reported Thursday.

Jobless claims totaled a seasonally adjusted 219,000 for the week ending Feb. 1, up 11,000 from the previous period’s revised total and higher than the 214,000 estimate. The four-week moving average, which smooths weekly volatility, rose to 216,750.

Continuing claims, which run a week behind, rose to 1.89 million, an increase of 36,000 from the previous period.

—Jeff Cox

Roblox‘s stock fell sharply in premarket trading after missing fourth-quarter expectations on several key metrics.

Roblox reported $1.36 billion in bookings, while analysts had projected $1.37 billion, according to FactSet. The company also reported 85.3 million daily active users, below the 88.2 million expected, according to StreetAccount.

Shares were down 21% ahead of the opening bell. That is on track for the stock’s worst day since May 9, 2024, when it dropped 22.1%.

Roblox stock fell sharply following a fourth-quarter bookings miss.

CarMax shares edged 3.5% higher during premarket trading on the back of an upgrade from Evercore ISI.

Analyst Michael Montani upgraded the used car retailer to outperform from in line and increased his price target by $20 to $110, which suggests more than 31% upside ahead. Shares have gained about 16.8% over the past year, but the stock has struggled over the past three years as pre-owned vehicle retailers have seen lower profitability with greater new vehicle availability.

“We see improving comp and share trends persisting amidst a favorable industry backdrop … an improving EVR ISI Used Car Dealer Survey, and a widening Used vs New car transaction price gap which we view as favorable for stronger comps at KMX. Our Base Case applies a market multiple on recovering C26 EPS,” he said in a Thursday note to clients.

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Shares of Peloton soared 14% in the premarket Thursday after the company recorded better-than-expected revenue for its fiscal second quarter and raised its full-year forecast.

For the period, Peloton posted revenue of $674 million, above the $654 million that analysts surveyed by LSEG were expecting. However, the company posted a larger earnings loss than expected, reporting a loss of 24 cents per share compared to the loss of 18 cents per share that analysts had estimated, per LSEG.

Peloton also raised its full-year guidance for earnings and free cash flow. The company now expects adjusted EBITDA in that period to come in between $300 million and $350 million, up from its prior guidance range of $240 million to $290 million. For free cash flow, Peloton anticipates generating at least $200 million, up from its prior guidance of $125 million.

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Shares of Eli Lilly rose more than 1% after the pharmaceutical giant reported quarterly earnings that beat analyst expectations.

The company earned $5.32 per share, while analysts polled by LSEG expected a profit of $4.95 per share. Revenue of $13.53 billion was just below a consensus forecast of $13.57 billion.

LLY rises

Honeywell shares fell more than 4% this premarket after the industrial giant issued lighter-than-anticipated earnings and revenue guidance.

The company expected earnings per share in a range of $10.10 to $10.50, while analysts polled by FactSet anticipated a forecast around $10.92 per share. As for revenue, Honeywell said it sees it ranging between $39.6 billion and $40.6 billion, while analysts anticipated guidance of $41.26 billion.

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Stoxx 600 index

The U.K.’s FTSE 100 was up 1% at 8:45 a.m. in London, while the British pound dropped 0.45% against the U.S. dollar, as traders gear up for an interest rate announcement and forecasts from the Bank of England.

The central bank is widely expected to cut rates by a quarter-point, so attention will be on policymakers’ communications on inflationary pressures and the U.K. growth outlook.

Yields on U.K. government bonds, which have cooled significantly following a spike last month, were slightly higher. The 2-year gilt yield was up two basis points at 4.162%.

— Jenni Reid

Stocks in China and the renminbi face “a tough year regardless of how trade tensions play out,” according to Thomas Mathews, head of Asia Pacific markets at Capital Economics.

Higher tariffs, or elevated tariffs that remain where they are, leave plenty of room for “China’s markets to deteriorate,” according to the firm, a London-based researcher. “But tariffs are, in our view, only one reason to be downbeat,” Mathews wrote Wednesday.

China’s tepid economy ought to keep down bond yields, and the central bank is more likely “to let the currency weaken.”

Meanwhile, stock market investors may be too optimistic about the effect of government measures to boost the economy and too confident about the ability of companies in China to “generate sustained growth in earnings per share,” Mathews said, arguing that “despite a recent pick-up, EPS are still lower than they were ten years ago. And the economic backdrop of that decade was much rosier than we think the next one will be.”

— Scott Schnipper

Stock futures traded near flat Wednesday night.

Dow futures slipped just under 0.1% shortly after 6 p.m. ET, while S&P 500 and Nasdaq 100 futures were both trading around the flatline.

— Lisa Kailai Han