Hey there, readers! Let’s take a look at some of the companies that are making waves in the stock market today.
First up, Coinbase Global. This cryptocurrency exchange saw its shares surge nearly 16% after reporting its first profit in two years. With fourth-quarter earnings coming in at $1.04 per share, well above analyst expectations, it’s no wonder investors are excited about the company’s future.
On the flip side, streaming service provider Roku slid 24% after posting a larger-than-expected loss for the fourth quarter. It’s always a bummer to see a company struggle, but here’s hoping they can turn things around soon.
Now, let’s talk about Nike. The sneaker giant’s shares pulled back 3% after announcing it was laying off 2% of its workforce as part of a broader restructuring. Plus, the stock was downgraded by Oppenheimer, citing various factors. It’s a tough time for Nike, but we’ve seen them overcome challenges in the past, so fingers crossed for a comeback.
Moving on to Applied Materials, shares of the semiconductor equipment maker jumped 8.7% on the company’s better-than-expected fiscal first-quarter results. It’s great to see a company exceeding expectations and reaping the benefits.
Yelp, on the other hand, saw its shares tumble 14% after giving disappointing full-year guidance. Hopefully, they can reassess their strategy and bounce back in the future.
Meanwhile, Toast saw its stock jump nearly 17% after beating expectations for fourth-quarter earnings and revenue. It’s always exciting to see a company exceed predictions and get rewarded for their hard work.
Lastly, let’s touch on Nvidia. The chipmaker’s shares climbed more than 1% after being initiated with a buy rating and a price target that calls for a 65% upside over the next 12 months. It’s great to see positive predictions for the future of a company.
And that’s a wrap on the latest stock market movements. Remember, investing can be a rollercoaster, but it’s all about the long game. Keep an eye on these companies and see how they fare in the coming months!
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