Hey there, readers! It’s time to catch up on the latest buzz in the business world. Let’s dive into the companies making waves in midday trading.
First up, we have Pinterest. Unfortunately, the image-sharing company saw its shares drop by about 11% after issuing softer-than-expected guidance for its first-quarter revenue. Despite posting fourth-quarter revenue that didn’t quite meet Wall Street’s expectations, Pinterest did manage to beat on earnings. Tough break, but we’ll be keeping an eye on how they bounce back.
On a brighter note, CleanSpark, the bitcoin miner, experienced a surge of 37% after reporting better-than-expected results for its fiscal first quarter. They even managed to report earnings of 14 cents per share, which was a pleasant surprise for analysts. It looks like the rising value of bitcoin played a role in boosting CleanSpark’s performance.
Now, it’s time to talk travel with Expedia. Unfortunately, the travel booking company disappointed Wall Street with its fourth-quarter bookings, leading to an 18% drop in its stock. With $21.7 billion in bookings falling short of analyst expectations, and the announcement of a CEO change, things are definitely shaking up at Expedia.
Moving onto the world of gaming, Take-Two Interactive Software saw its stock slide by 7% after guiding for a disappointing forecast in its current quarter. The company’s projected fiscal fourth-quarter bookings didn’t quite match up with what analysts were expecting, so it’s a bit of a rough patch for them.
PepsiCo, the beverage and snacks giant, also took a hit with its shares falling nearly 3% after its fourth-quarter revenue missed expectations. Factors such as high borrowing costs and lower personal savings were cited as contributors to the company’s revenue shortfall.
But fear not, because we’ve got some success stories too. Cloudflare, the cloud services provider, saw its shares soar by more than 20% after beating Wall Street estimates in the fourth quarter and issuing an optimistic full-year guidance for earnings per share. It’s always great to see a company exceed expectations and set a positive tone for the future.
On the flip side, Bill Holdings, the billing software company, dipped more than 12% after posting revenue guidance that fell below what analysts were expecting. It’s a tough break for them, but hopefully, they’ll find their footing in the next quarter.
In the world of tech, chip stocks had a good day, with companies like Applied Materials and Lam Research seeing significant gains in midday trading. Chip giant Nvidia also had a strong showing, jumping 3% and contributing to the positive momentum in the sector.
And let’s not forget about the solar stocks. Enphase Energy, First Solar, and SolarEdge all saw leaps in their stock prices, boosting the Invesco Solar ETF by 3%. Even though these companies are still down for the year, it’s good to see them making moves in the right direction.
That’s a wrap for the latest from midday trading! Keep your eye on these companies as they navigate the ups and downs of the market. We’ll be back with more updates soon. Stay tuned!
Source link
