Midday movers: RBLX, ENPH, SNAP, BABA

Welcome to the latest update on the stock market movers! Let’s dive into the companies that are making headlines today.

Roblox has seen a major 10% surge in its stock after posting a loss of 52 cents per share, which was less than the 55 cent per share loss expected by analysts. Revenue also exceeded expectations, coming in at $1.13 billion versus the $1.08 billion expected.

On the flip side, New York Community Bancorp saw a 6% decrease in shares after Moody’s Investors Service downgraded its credit ratings to junk. The bank has appointed Alessandro DiNello as executive chair to improve operations.

Snap experienced a 35% decline in shares after posting disappointing fourth-quarter results and weak forward guidance. The company also announced layoffs of 10% of its global workforce.

Enphase Energy, on the other hand, saw a 17% increase in its stock following CEO Badri Kothandaraman’s comments about the solar market potentially hitting a bottom in the first quarter and beginning to recover.

Alibaba, the Chinese e-commerce giant, faced a 5.8% slip in its U.S.-listed shares after missing analysts’ estimates for fiscal third-quarter revenue. The company also announced an increased share buyback program.

Despite adjusted earnings and revenue missing for the fourth quarter, Yum Brands’ stock saw a 3% increase. XPO, the shipping company, also beat expectations for the fourth quarter, resulting in a 17% jump in its shares.

Amgen fell 4.4% following a downgrade by Leerink Partners, while CVS Health rose 2% after beating revenue and adjusted earnings per share estimates for the fourth quarter.

The New York Times experienced an 8% drop in its stock after reporting a revenue miss for the fourth quarter, and Chipotle Mexican Grill saw an 8% increase following stronger-than-expected adjusted earnings and revenue.

VF Corp. saw a 13% pullback in shares after missing Wall Street estimates for the third quarter, and Sonos jumped 15% after beating earnings expectations and reaffirming guidance for the fiscal first quarter.

Warner Bros. Discovery, Fox, and Walt Disney also saw declines following the announcement of their joint sports streaming platform. Similarly, FuboTV and Paramount Global both saw decreases in their stock prices after the news.

Finally, Cirrus Logic experienced a 16% jump in its stock after exceeding analysts’ expectations in its latest quarterly results.

That’s all for today’s round-up of stock market movers. Stay tuned for more updates and insights on the latest market trends!

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