— The telecommunications company's shares dropped 13% after Morgan Stanley downgraded the stock to underweight from equal weight. Morgan Stanley said in a note that the recent rise for the stock was mostly caused by short covering and that the company formerly known as CenturyLink faced headwinds in the years ahead.— Shares of the appliance maker fell more than 9% despite beating on the top and bottom line of its quarterly results. Whirlpool earned an adjusted $6.
64 per share, topping estimates of $6.07 per share, according to Refinitiv. The company made $5.80 billion in revenue. higher than the forecast $5.59 billion.— Shares of the industrial tool manufacturer rose by 4.4% on Thursday. The company reported fourth quarter revenues of $4.4 billion, up 19% from the prior year. Fourth quarter diluted earnings per share was $3.29, an increase of 51% from the year-ago period. Both measures beat analyst expectations, according to Refinitiv.