- ORIGINAL NEWS
Stocks making the biggest moves midday: Uber, Airbnb, MGM Resorts, Robinhood and more
- SUMMARY
Several companies saw significant stock movement during midday trading.
Uber surged 11% after announcing a share repurchase program and expecting strong growth.
Lyft jumped 31% after posting better-than-expected earnings.
Health tech companies IQVIA Holdings and Charles River Laboratories rose 10% and 9%, respectively, after exceeding analyst estimates.
DaVita also climbed 7% due to outperforming both revenue and earnings.
Robinhood Markets surprised with a profit, boosting its shares by 9%.
Real estate marketplace Zillow reported strong results, leading to a 6% increase.
Crypto-related stocks benefited from Bitcoin’s rise, with Coinbase, Microstrategy, and mining companies seeing gains.
Despite beating expectations, MGM Resorts and Kraft Heinz both fell 8% and 6%, respectively, as their U.S. casino operations and revenue missed projections.
Airbnb and Hasbro experienced mixed results, with Airbnb declining slightly after warning of reduced bookings in the first quarter.
Hasbro, however, rebounded with a 3% increase despite weak earnings and guidance.
- NEWS SENTIMENT CHECK
- Overall sentiment:
positive
Positive
“- Uber’s shares jumped 11%, climbing to a new 52-week high, after the ride-hailing company announced an inaugural $7 billion share repurchase authorization program.”
“- Uber also said it expects gross bookings growth to be in the mid to high-teens over the next three years.”
“- Shares of the ride-hailing platform surged 31% after the company posted adjusted earnings of 18 cents per share in the fourth quarter, more than the LSEG consensus estimate of 8 cents per-share earnings.”
“- The health tech company saw its shares rise 10% after it posted fourth-quarter earnings of $2.84 per share, excluding items, compared to the $2.82 per share expected by analysts, according to FactSet.”
“- Revenue of $3.87 billion for the quarter was slightly above estimates of $3.8 billion.”
“- The drug maker gained 9% after fourth quarter adjusted earnings of $2.46 per share beat analysts’ estimates of $2.40 per share, according to FactSet.”
“- Charles River posted $1.01 billion in revenue, while analysts anticipated $991.3 million.”
“- The health-care company jumped 7% after posting a beat on top and bottom lines.”
“- On Tuesday, DaVita posted earnings of $1.87 per share, ex-items, on $3.15 billion in revenue.”
“- Shares of the trading platform jumped 9% after the company posted a surprise earnings and revenue beat.”
“- Robinhood posted earnings of 3 cents per share, while analysts expected a 1 cent per share loss, according to LSEG.”
“- Revenue came in at $471 million, topping the $457 million expected by analysts.”
“- Shares rose more than 6% after the real-estate marketplace posted adjusted earnings of 20 cents per share on revenues of $474 million.”
“- Stocks whose performance is tied to the price of bitcoin surged after the cryptocurrency rose to a more than two-year high and regained its $1 trillion market cap.”
“- Trading platform Coinbase gained about 13% and bitcoin proxy Microstrategy added 10%.”
“- Shares advanced 6% midday after the sports equipment company posted a narrower-than-expected adjusted loss for the fourth quarter of 30 cents per share, compared to a loss of 33 cents per share as expected by analysts, according to LSEG.”
“- Topgolf Callaway reported an adjusted earnings and revenue beat in the fourth quarter.”
“- MGM Resorts International reported an earnings and revenue beat in the fourth quarter.”
“- Airbnb reported a 55-cent loss per share, and it was not immediately clear how it compared with analysts’ estimates of a 62-cent per share profit, per LSEG.”
“- Airbnb also warned of some pressure on nights booked in the first quarter due to tough comparisons.”
“- The toymaker rose nearly 3%, rebounding from its decline during Tuesday’s trading session.”
“- Hasbro also posted weaker-than-expected guidance for its full-year revenue.”
“- Lyft —  Shares of the ride-hailing platform surged 31% after the company posted adjusted earnings of 18 cents per share in the fourth quarter, more than the LSEG consensus estimate of 8 cents per-share earnings.”
“- Lyft reported revenue of $1.22 billion, which was in line with analysts’ expectations.”
“- The health tech company saw its shares rise 10% after it posted fourth-quarter earnings of $2.84 per share, excluding items, compared to the $2.82 per share expected by analysts, according to FactSet.”
“- Revenue of $3.87 billion for the quarter was slightly above estimates of $3.8 billion.”
“- Robinhood Markets — Shares of the trading platform jumped 9% after the company posted a surprise earnings and revenue beat.”
“- Shares rose more than 6% after the real-estate marketplace posted adjusted earnings of 20 cents per share on revenues of $474 million.”
“- Cryptocurrency stocks — Stocks whose performance is tied to the price of bitcoin surged after the cryptocurrency rose to a more than two-year high and regained its $1 trillion market cap.”
“- Kraft Heinz — The food products stock fell more than 6% after fourth-quarter revenue missed expectations.”
Negative
“- Akamai Technologies — Shares slipped 8% after the cloud platform provider missed analyst expectations for fourth-quarter revenue.”
“- MGM Resorts International — Shares dropped 8% despite the company’s better-than-expected fourth quarter results.”
“- Hasbro — The toymaker rose nearly 3%, rebounding from its decline during Tuesday’s trading session.”
“- Akamai posted $995 million, under the forecast of $998 million from analysts polled by LSEG.”
“- The company’s adjusted earnings per share of 78 cents was one cent above analyst estimates.”