HomeNewsMarket Highlights: Here is how the market reacted to earnings

Market Highlights: Here is how the market reacted to earnings

Ruchi Gupta
  • AstraZeneca purchases Alexion for about $39 billion and recorded $12.01 total revenues in the fourth quarter.
  • Mattel's share prices went up by more than 12% after the company announced outstanding fourth-quarter financials.
  • Cummins Inc is acquiring Jacobs Vehicle Systems

AstraZeneca shares rise after great Q4 results

AstraZeneca (NASDAQ: AZN) shares grew by about 3% after the company recorded better-than-expected fourth-quarter financial results. The promising financial results were driven by Alexion's $39 billion acquisition, a rare diseases drugmaker in the United States, and the strong sales of its COVID-19 vaccine. In addition, the company's total revenue for the fourth quarter came to $12.01 billion, representing a 62% year-over-year increase.

Zynga report record fourth-quarter results

 Zynga Inc. (NASDAQ: ZNGA), a leading social game service provider, recorded historic bookings and total revenues in Q4 2021. The company's $727 million net bookings were the best it has recorded in a quarter, representing a year-over-year increase of 4%. It beat the $719 million consensus estimate. Average mobile DAUs (daily active users) went up 3% coming in at 37 million, while average mobile MAUs (monthly active users) went up 38% coming in at 184 million.

Mattel delivers solid fourth-quarter results

After announcing outstanding fourth-quarter financial results, Mattel (NASDAQ: MAT) share prices went up by more than 12%. The company's total revenue came to about $1.8 billion, representing a 10% year-over-year increase. 

The total revenue also exceeded the $1.65 billion consensus estimates. The revenue increase was driven by a surge in the company's North American segment.

Yum share prices gained 2.2% after it posted Q4 results

 Yum! Brands' (NYSE: YUM) share prices increase by 2.2% after revenues top estimates. The company's total revenues came in at around $1.89 billion, representing an 8% year-over-year increase and modestly beating the $1.88 billion consensus estimate. In addition, YUM BRANDS added 1,689 gross new units. However, the company didn't meet analyst earnings estimates because of compressed margins caused by higher costs.

Cumins purchasing Jacobs Vehicle Systems

Cummins Inc (NYSE: CMI) is acquiring Jacobs Vehicle Systems, and the company expects to complete the deal by the end of the year. Cummins is set to have access to Jacob's valuable new technologies, which should help strengthen its advanced diesel engine development.