Stocks were mostly higher Thursday after U.S. retail sales in January dropped 0.8% from December, a steeper decline than economists’ forecasts for a 0.1% dip, and weekly jobless claims were a little lower than expected.
These stocks were making moves Thursday:
Fastly
was tumbling 31% after the cloud-computing company reported fourth-quarter revenue below Wall Street expectations and issued guidance that disappointed. For the first quarter,
Fastly
said it expects revenue ranging from $131 million to $135 million, with an adjusted loss of 5 cents to 9 cents a share. Wall Street had been calling for revenue of $135.5 million and a loss of 4 cents.
JFrog
forecast a revenue increase of 21% to 22% in 2024 and shares of the software-development tools company were up 26%.
JFrog’s
fourth-quarter adjusted earnings and revenue topped analysts’ expectations.
Shake Shack
was up 22% after the burger chain swung to a fourth-quarter profit and beat analysts’ estimates. Revenue in the period jumped 20% to $286.2 million, better than estimates of $280.2 million.
Zebra Technologies
was the best-performing stock in the
S&P 500,
up 12%, after the maker of printers, barcode scanners, and RFID readers, reported adjusted fourth-quarter earnings that beat analysts’ estimates.
West Pharmaceutical Services
was falling the most, down 14%, after the contract manufacturer issued a weak outlook for 2024.
Cisco Systems
’ fiscal second-quarter adjusted earnings beat analysts’ estimates but the networking giant’s guidance for the third quarter and fiscal year fell well short of Wall Street estimates. The company also announced it planned to cut about 5% of its workforce under a restructuring plan “in order to realign the organization and enable further investment in key priority areas.” Cisco shares were down 2.4%.
Deere
declined 5.8% after the farm and construction machinery maker reported fiscal first-quarter earnings that topped Wall Street expectations but issued guidance for the fiscal year that missed forecasts.
Deere
said it expects fiscal 2024 earnings of $7.5 billion to $7.75 billion, below consensus of $8.03 billion.
AppLovin,
the app-monetization company, earned 49 cents a share on revenue of $953 million in the fourth quarter, beating estimates for profit of 35 cents a share on revenue of $929 million.
AppLovin
expects first-quarter revenue of $955 million to $975 million, better than Wall Street estimates of $912.1 million. The stock jumped 22%.
Super Micro Computer
was up 11% to $977.47 after
Bank of America
initiated coverage on shares of storage and server company with a Buy recommendation and a price target of $1,040.
Informatica,
the provider of cloud-based data management software, reported fourth-quarter revenue of $445 million, up 12% from a year earlier and better than Wall Street estimates of $432 million. Cloud subscription annual recurring revenue rose 37% to $617 million, beating analysts’ consensus of $609 million. The stock rose 14%.
Twilio,
the communications-software company, posted fourth-quarter adjusted earnings and revenue that beat estimates but first-quarter revenue guidance of $1.025 billion to $1.035 billion, an increase of 2% to 3% from a year earlier but below forecasts of $1.052 billion. Shares of
Twilio
declined 15%.
Albemarle,
the lithium miner, said fourth-quarter revenue fell 10% to $2.36 billion on lower lithium market pricing. Analysts had expected revenue of $2.18 billion. The company posted a loss of $617.7 million, or $5.26 a share, a reversal from a year-earlier profit of $1.13 billion, or $9.60 a share. Shares were up 3%.
Yeti Holdings,
the drinkware, coolers and outdoor products maker, declined 15% after reporting fourth-quarter adjusted earnings that missed analysts’ expectations and fiscal-year guidance that also was shy of forecasts.
Coinbase Global
was rising 3.3% ahead of the crypto trading platform’s fourth-quarter earnings scheduled for after markets close Thursday. Analysts expect Coinbase to report a profit of 2 cents a share on revenue of $826 million.
J.P. Morgan
upgraded the stock to Neutral from Underweight.
Write to Joe Woelfel at [email protected]
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