The major US indices are closing the session with mixed results in what was an up and down trading day.
A snapshot of the closing levels shows:
- Dow industrial average -68.56 points or -0.20% at 33550.33
- S&P index rose 0.99 points or +0.02% at 4274.53
- NASDAQ index rose 29.23 points or 0.22% at 13092.84
Top sectors included
- Energy
- Industrial
- Communication services
The laggards today included
- Utilities
- Real estate
- Healthcare
After the close, Micron reported better-than-expected results for Q4 2023 with
- EPS of -1.07, beating the expected -1.18, r
- Revenue of $4.40 billion, surpassing the expected $3.91 billion.
However, the company anticipates a Q1 adjusted EPS of -1.07, which is below the expected -0.95, but expects revenue to be $4.40 billion, higher than the anticipated $4.20 billion.
Micron is optimistic about achieving record industry TAM revenue in 2025 due to the proliferation of AI from data centers to Edge. The company is positioning itself for a market recovery in 2024, driven by increasing demand and disciplined supply.
Micron shares closed at $68.24. The shares are trading at $67.58 down -0.97% in after-hours trading..
