Wednesday, December 6, 2023
HomeBusinessUber, Lyft, Airbnb, Starbucks and extra

Uber, Lyft, Airbnb, Starbucks and extra

Shut-up of vertical signal with logos for ride-hailing corporations Uber and Lyft.

Smith Assortment | Gado | Getty Photos

Try the businesses making headlines in noon buying and selling.

Lyft — Shares of Lyft tumbled about 30% after the ride-hailing firm issued disappointing guidance for the second quarter and mentioned it might enhance spending to draw extra drivers, as a result of surging fuel costs.

Uber — The ride-hailing app noticed its stock drop nearly 4.7% after the company posted a massive loss on investments. Uber reported a lack of $5.9 billion throughout the first quarter, which it mentioned was primarily as a result of its fairness investments in Seize, Aurora, and Didi. The sell-off got here at the same time as Uber posted surging income because it recovers from its coronavirus lows.

Advanced Micro Devices — The semiconductor inventory added 9.1% after beating revenue and earnings estimates in the recent quarter. AMD’s gross sales jumped 71% at the same time as analysts fear a few PC slowdown.

Starbucks — Shares jumped about 9.8% after Starbucks surpassed revenue expectations in its most recent earnings report. The espresso chain earned 59 cents per share on an adjusted foundation, assembly consensus expectations from Refinitiv. The agency posted $7.64 billion in income, in contrast with the $7.6 billion determine forecast by analysts from Refinitiv, following sturdy home gross sales that offset declines abroad.

Airbnb — The holiday rental inventory gained about 7.7% after Airbnb reported a smaller-than-expected loss for the first quarter. The corporate reported a lack of 3 cents per share on $1.51 billion in income. Analysts surveyed by Refiniv had been anticipating a 29-cent per-share loss on $1.45 billion of income. The corporate mentioned it had its highest variety of bookings on file and greater than $1 billion in free money stream throughout the quarter.

Match Group — Shares of the online dating company added 6.2% after Match issued weak forward guidance and introduced its CEO Shar Dubey would step down on the finish of Could. Zynga President Bernard Kim will take over as chief govt, Match mentioned.

CVS Health — CVS Well being rose 4.8% after the company beat estimates in the recent quarter and raised its forecast for the year. The corporate additionally mentioned it noticed a lower in demand for pandemic-related companies throughout the first quarter.

Caesars Entertainment — Caesars Leisure’s inventory dropped 1.9% after the corporate reported quarterly outcomes. The on line casino operator posted $2.29 billion in income for the quarter, lacking analysts’ estimates of $2.35 billion, in line with FactSet’s StreetAccount.

Skyworks — Shares of Skyworks plummeted 5% regardless of the semiconductor firm beating income estimates within the latest quarter. The corporate reported earnings that had been in keeping with analysts’ estimates however shared weak ahead steerage.

Akamai Technologies — Shares of Akamai fell 9.7% after the cybersecurity agency missed earnings estimates within the latest quarter. Income was in keeping with expectations.

Generac — Generac’s inventory added 11.8% after the generator producer beat estimates on the highest and backside traces within the first quarter. The corporate posted $2.09 adjusted earnings per share on revenues of $1.14 billion. Analysts anticipated $1.94 a share on $1.09 billion in income.

Brinker International — Shares plummeted greater than 12% as Chili’s father or mother firm reported per-share earnings that had been 10 cents under estimates. Brinker Worldwide’s income fell in keeping with estimates, however the firm issued weaker-than-expected ahead earnings steerage.

— CNBC’s Tanaya Macheel, Yun Li, Jesse Pound, Sarah Min and Hannah Miao contributed reporting.

Source link



Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments