General Dynamics Corporation (GD) increased to $152.73, up +1.6 percent. The US defense contractor posted net income of $1 billion in the fourth quarter, or $3.49 per share, with revenue of $10.5 billion. Net profit for the year was $3.2 billion, $11 per share, for sales of $37.9 billion. Quarterly net profit rose 20 percent sequentially, suggesting a rebound for Reston, the Virginia-headquartered company. Operating margin improved from the previous quarter to 12.3 percent.
AT&T Inc. (T) fell -2.05% to $29.14. On Wednesday, the US telecom operator was disappointed by its sales forecast, though its quarterly earnings met forecasts. For stable diluted earnings per share, the conglomerate now expects combined sales to grow by around 1 percent in 2021. Earnings dropped 16 percent in the fourth quarter to 75 cents per share, while sales fell 2.4 percent to $45.7 billion. Consensus has an EPS of 73 cents and sales of 44.5 billion.
V.F. Corporation (VFC) fell -7.02% to $79.15. For its fiscal third quarter, the company with the labels like Vans, Timberland, and North Face posted lower than planned sales. Guidance is weak as well. Compared to $465 million and $1.16 per share a year ago, net income for the quarter was $347 million, or 88 cents per share. Adjusted EPS was 93 cents, relative to a consensus of 90 cents. Revenues were $2.97 billion, below the prior year’s revenue of $3.16 billion and against the consensus of $3 billion.
Anthem, Inc. (ANTM) was down to $290.17, down -7.15 percent. Better-than-expected fourth-quarter earnings and sales were posted by a U.S. health insurance agency, formerly known as Wellpoint. However, the annual forecast is somewhat low. Quarterly net income was $551 million or and $2.19 per share, relative to $934 million a year ago. The group is improving by $5 billion in its equity repurchase scheme.