Discover the latest trends in the stock market with these companies making headlines in midday trading.
First up, Uber. This ride-hailing company saw its shares rise by 11%, hitting a new 52-week high after announcing an inaugural $7 billion share repurchase program. In addition, Uber predicted mid to high-teens gross bookings growth over the next three years.
Next, Lyft enjoyed a 31% surge in its shares after reporting adjusted earnings of 18 cents per share in the fourth quarter, which surpassed the LSEG consensus estimate of 8 cents per share. The company’s revenue of $1.22 billion was also in line with analysts’ expectations.
IQVIA Holdings, a health tech company, experienced a 10% rise in shares following its announcement of fourth-quarter earnings of $2.84 per share, which slightly exceeded analysts’ expectations.
Charles River Laboratories, a drug manufacturer, reported fourth-quarter adjusted earnings of $2.46 per share, beating estimates, and posted $1.01 billion in revenue, surpassing the anticipated $991.3 million.
Health-care company DaVita’s shares jumped 7% after it posted a beat on its top and bottom lines. The company reported earnings of $1.87 per share, ex-items, on $3.15 billion in revenue, surpassing the estimates by analysts.
Robinhood Markets, a trading platform, saw its shares surge 9% after posting a surprise earnings and revenue beat. The company posted earnings of 3 cents per share, while analysts expected a 1 cent per share loss, and revenue came in at $471 million, surpassing expectations.
Zillow’s shares rose over 6% after posting adjusted earnings of 20 cents per share on revenues of $474 million, beating analysts’ estimates.
In the rapidly expanding cryptocurrency space, stocks tied to bitcoin’s price saw a surge after the cryptocurrency regained its $1 trillion market cap. Companies including Coinbase, Microstrategy, Iris Energy, CleanSpark, Marathon Digital, Topgolf Callaway, and Riot Platforms all experienced significant increases in their stock prices.
On the flip side, Akamai Technologies’ shares slipped 8% after missing analyst expectations for fourth-quarter revenue.
MGM Resorts International shares also dropped by 8% despite the company’s better-than-expected fourth-quarter results.
Food products stock Kraft Heinz fell more than 6% after fourth-quarter revenue missed expectations.
Airbnb’s shares dropped about 3% even after the vacation property rental platform posted a fourth-quarter revenue beat and reported a 55-cent loss per share.
Finally, Hasbro, the toymaker, rebounded from a previous decline and rose by nearly 3%.
Be sure to stay informed about the latest market trends, and remember that investing in the stock market involves risks. Happy investing!
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