Stock popped on Thursday with the S&P 500 hitting 5,029.73 with a growth of 0.58% despite a disappointing retail sales report. The Dow Jones rose 0.9% hitting 38,773.12, while the tech-heavy NASDAQ added 0.3% reaching 15,906.17.
DoorDash (DASH) shares climbed 5.2% after the announcement of fiscal results of the fourth quarter, where revenues and orders exceeded expectations, although net losses failed to shrink as quickly as forecast hoped. The delivery company saw its revenue raising 27% to $2.3 billion, exceeding the $2.25 billion projected by analysts. Total orders rose 23% to $574 million compared to the $561.3 forecasted. On the other hand the company’s net loss shrinked to $154 million despite analyst’s expecting them to narrow further to $61 million.
AppLovin (APP) stock surged on Thursday, with share price up 24.3% midday, after the announcement of fiscal results. The company reported earnings per share of $0.49 on revenue of $953.26 million, blowing past the expectations of $0.35 per share earning on sales of $928.03 million. The revenue grew roughly 36% year over year in Q4 and revenue for its software platform segment jumped 88% to reach $576 million. (K.Noonan)
Fastly (FSLY) stock plummeted on Thursday with the price being down 30% as of 3 p.m. ET.The company published its fourth-quarter report after market close on Wednesday posting a beat on earnings but sales falling significantly short of expectations. Making things worse there were red flags raised by the company’s guidance after the chief architect sold shares. The company posted earnings of $0.01 per share on revenue of $137.77 million with earnings per share beating the expected loss of $0.02 per share but falling short of the expected target of $140 million.(K.Noonan)
Author: Luca Sesena