Stock Movers: ASML Record High, Amazon Job Cuts, GE Vernova Earnings

ASML's Record Performance Driven by AI Demand

• 🚀 ASML Holding shares reached an all-time high following strong fourth-quarter bookings, nearly doubling estimates to 13.2 billion euros.
• 💡 The surge is attributed to the AI boom, which is driving demand for ASML's sophisticated lithography machines, essential for producing advanced chips.
• 🔬 Over half of ASML's sales came from its top-end machines, with a notable increase in sales to the US and South Korea, while China and Taiwan's share decreased.
• 📉 ASML also announced a plan to cut 1,700 jobs to improve efficiency and reduce bureaucracy.

Amazon's Corporate Restructuring and AI Investment

• ✂️ Amazon.com announced it will eliminate approximately 16,000 corporate positions as part of an effort to streamline bureaucracy and reduce management layers.
• 💰 These layoffs follow previous cuts and a significant post-pandemic hiring surge, with the company investing heavily in artificial intelligence infrastructure.
• 📊 Amazon has spent nearly $150 billion on capital expenditures in the current year, aiming to reduce employee costs while scaling AI investments.

GE Vernova's Strong Earnings and Backlog Growth

• 📈 GE Vernova reported fourth-quarter revenue exceeding estimates, with diluted EPS of over $13, significantly surpassing Wall Street's forecast.
• 🔌 The company's total backlog surged by $31.2 billion last year, reaching $150 billion, driven by strong orders for gas turbines and grid equipment.
• ⚡ Gas turbine orders increased from 33 gigawatts to 40 gigawatts, with these turbines crucial for powering data centers, especially relevant given recent cold weather demands.

AT&T's Subscriber Growth and Financial Outlook

• 📞 AT&T reported 421,000 new wireless subscribers in the fourth quarter, slightly below estimates, but still achieved sales and earnings above Wall Street expectations.
• 💰 The company provided a strong earnings projection for the upcoming year, forecasting $2.25 to $2.35 per share, with the lower end exceeding consensus.
• 💸 AT&T also approved additional share buybacks, planning to repurchase $8 billion worth of stock this year, contributing to a 4% pre-market stock increase.