Stocks to Watch: Meta Platforms, IBM, O'Reilly Automotive, Cidara Therapeutics

Dow Jones04-25

By Ben Glickman

Meta Platforms said it would increase its spending for the year by as much as $10 billion to support its AI push, following a year of cost cuts in 2023. The Facebook parent's revenue was up 27% in the first quarter, but its second-quarter revenue forecast was slightly below Wall Street's expectations. Shares fell 15% to $417.26 after hours.

International Business Machines posted slight revenue growth of 1.5%, but fell short of analysts' expectations. IBM said it would acquire cloud-software company HashiCorp for about $35 a share, giving it an enterprise value of about $6.4 billion. Shares slipped 7.9% to $169.49 after hours.

O'Reilly Automotive's profit and revenue both fell short of analysts' expectations in the first quarter. Comparable sales were up 3.4%, flat sequentially from the fourth quarter and shy of Wall Street estimates. Shares sank 4% to $1,048.85 post-market.

Cidara Therapeutics said it would re-acquire the license to its potential influenza-prevention treatment from Johnson & Johnson. The company also said it was divesting its candidiasis treatment, which it expects will save the company about $128 million over the life of the drug's patent. Shares surged 37% to $16.78 in the late session.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

April 24, 2024 19:49 ET (23:49 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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The Facebook parent's ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4579","symbol_name":"人工智能","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2430269418","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2430269418","pubTimestamp":1714002540,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Meta Platforms said it would increase its spending for the year by as much as $10 billion to support its AI push, following a year of cost cuts in 2023. 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The Facebook parent's revenue was up 27% in the first quarter, but its second-quarter revenue forecast was slightly below Wall Street's expectations. Shares fell 15% to $417.26 after hours. \n\n\n  International Business Machines posted slight revenue growth of 1.5%, but fell short of analysts' expectations. IBM said it would acquire cloud-software company HashiCorp for about $35 a share, giving it an enterprise value of about $6.4 billion. Shares slipped 7.9% to $169.49 after hours. \n\n\n  O'Reilly Automotive's profit and revenue both fell short of analysts' expectations in the first quarter. Comparable sales were up 3.4%, flat sequentially from the fourth quarter and shy of Wall Street estimates. Shares sank 4% to $1,048.85 post-market. \n\n\n  Cidara Therapeutics said it would re-acquire the license to its potential influenza-prevention treatment from Johnson & Johnson. 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