The Dow Jones Industrial Average and Nasdaq Composite were down in late-morning trading Wednesday, while the S&P 500 was up slightly, as investors parse the latest jobs data.
The January employment report showed nonfarm payrolls rose by 130,000, double the 65,000-jobs gain expected in a survey compiled by Bloomberg, but December and November payrolls were revised down to a 48,000 increase and 41,000 increase, respectively, for a net downward revision of 17,000 jobs over that period.
In company news, Vertiv (VRT) reported Q4 adjusted earnings Wednesday of $1.36 per diluted share, up from $0.99 a year earlier and above the FactSet consensus analyst estimate of $1.29. Fourth-quarter revenue was $2.88 billion, up from $2.35 billion a year ago and in-line with the FactSet consensus. For Q1, the company said it expects adjusted diluted EPS of $0.95 to $1.01 and net sales of $2.5 billion to $2.7 billion. Analysts polled by FactSet expect $0.94 and $2.54 billion, respectively. For full-year 2026, the company said it expects adjusted diluted EPS of $5.97 to $6.07 and net sales of $13.25 billion to $13.75 billion. Analysts polled by FactSet expect $5.33 and $12.45 billion, respectively. Vertiv shares were up 20.5%.
Kraft Heinz (KHC) reported Q4 adjusted net income Wednesday of $0.67 per diluted share, down from $0.84 a year earlier and above the FactSet consensus of $0.61. Fourth-quarter net sales were $6.35 billion, down from $6.58 billion and below the FactSet consensus of $6.37 billion. For fiscal 2026, the company said it expects adjusted EPS of $1.98 to $2.10. Analysts polled by FactSet expect $2.47. Additionally, Chief Executive Steve Cahillane said the company is pausing work related to the planned separation of Kraft Heinz into two independently publicly traded companies, and the company "will no longer incur related dis-synergies this year." Kraft Heinz shares were up 0.2%.
Ancora Holdings, which holds a roughly $200 million interest in Warner Bros. Discovery (WBD), on Wednesday issued a presentation laying out its "strong opposition" to the currently proposed merger of Warner Bros. and Netflix (NFLX). Warner Bros. shares were up 0.7%, while Netflix shares were down 2.5%. Shares of Paramount Skydance (PSKY), which is also seeking to acquire Warner Bros., were up 0.8%.
Shopify (SHOP) reported Q4 net income Wednesday of $0.57 per diluted share, down from $0.99 a year earlier but above the FactSet consensus of $0.44. Fourth-quarter revenue was $3.67 billion, up from $2.81 billion a year ago and above the FactSet consensus of $3.66 billion. The company said its board authorized a share repurchase program of up to $2 billion, provided that the number bought back does not surpass 5% of its issued and outstanding shares. Shopify shares were down 11.9%.
Robinhood Markets (HOOD) reported fiscal Q4 net income late Tuesday of $0.66 per diluted share, down from $1.01 a year earlier but above the FactSet consensus of $0.63. Fiscal Q4 revenue was $1.28 billion, up from $1.01 billion a year ago but below the FactSet consensus of $1.36 billion. Robinhood shares were down 11.1%.
T-Mobile US (TMUS) reported Q4 earnings Wednesday of $1.88 per diluted share, down from $2.57 a year earlier and below the FactSet consensus of $2.05. Fourth-quarter revenue was $24.33 billion, up from $21.87 billion a year ago and above the FactSet consensus of $24.17 billion. T-Mobile shares were up 2.7%.
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