In a trading session on Tuesday, Apollo Global Management, Inc. (APO) increased to $49.18, up +7.19 percent. After an independent company confirmed his corporate partnership with Jeffrey Epstein, who was accused of child abuse and trafficking and committed suicide in August, Leon Black announced he would step down as chief executive of the investment firm he co-founded.
Autoliv, Inc. (ALV) went up by +3.06% to $91.31. The Swede, listed on Wall Street and the world’s largest maker of airbags and seat belts, posted a better-than-expected quarterly profit and this year expects organic growth of about 20%.
Following quarterly earnings, American Express Company (AXP) was down -4.13 percent to $116.15. Following estimates, AXP reported fourth-quarter revenues of $9.4 billion and earnings per share of $1.76, compared to a forecast of around $1.4. Earnings were $36.1 billion for the year, with an EPS of $3.77. The company posted a net income of $1.4 billion in the fourth quarter alone, compared to $1.7 billion a year ago in the same period.
Verizon Communications Inc. (VZ) decreased by -3.17% to close the session at $56.57. For the fourth quarter, Verizon reported weak subscription numbers, but its revenue forecast for 2021 was ‘online’. The US telecom operator matched the forecast on earnings per share for the fourth quarter, but its broadband subscriptions disappointed. The quarterly EPS was $1.11, up from $1.23 a year ago. $1.21 was the EPS after adjustments. Net income fell by 10% to $4.7 billion, while adjusted EBITDA increased by 5% to $11.7 billion. Revenues dropped by 1.2% to $23.9 billion.
Despite rising its sales and profit goals as global markets recovered, DuPont de Nemours, Inc. (DD) dropped -1.87 percent to $79.83. The developer of industrial materials saw a preliminary fourth-quarter EPS of 93 to 95 cents, relative to a forecast of 80 cents. Sales are estimated to be equivalent to $5.25 billion, compared to 5 billion by consensus.
With a ring of the bell, QUALCOMM Incorporated (QCOM) declined by -1.13% to $162.55. An agreement with Sweden’s Veoneer was signed by QCOM to build a tech framework dedicated to specialized driving assistance systems.