Uber’s Shares Soar on $7 Billion Share Repurchase Authorization
Uber’s shares surged 11% to a new 52-week high after the ride-hailing company announced a $7 billion share repurchase authorization program. The company also expects strong growth in gross bookings over the next three years.
Lyft Beats Earnings Estimates, Shares Jump
Shares of Lyft, the ride-hailing platform, soared 31% after the company reported adjusted earnings of 18 cents per share in the fourth quarter, beating analysts’ expectations. Lyft’s revenue of $1.22 billion was in line with estimates.
IQVIA Holdings Exceeds Earnings Expectations
Health tech company IQVIA Holdings saw its shares rise 10% after posting fourth-quarter earnings of $2.84 per share, surpassing analysts’ expectations. The company’s revenue of $3.87 billion slightly exceeded estimates.
Charles River Laboratories Surpasses Analysts’ Estimates
Drug maker Charles River Laboratories gained 9% after reporting fourth-quarter adjusted earnings of $2.46 per share, beating analysts’ estimates. The company’s revenue of $1.01 billion also exceeded expectations.
DaVita Beats Expectations on Top and Bottom Lines
Health-care company DaVita jumped 7% after posting better-than-expected earnings and revenue for the fourth quarter. DaVita reported earnings of $1.87 per share on $3.15 billion in revenue, surpassing analysts’ estimates.
Robinhood Markets Surprises with Earnings Beat
Shares of trading platform Robinhood surged 9% after the company posted earnings of 3 cents per share, surprising analysts who expected a loss. Robinhood’s revenue of $471 million also exceeded expectations.
Zillow Exceeds Analysts’ Estimates
Shares of real-estate marketplace Zillow rose more than 6% after the company reported adjusted earnings of 20 cents per share on revenues of $474 million. Zillow’s performance beat analysts’ estimates.
Crypto Stocks Surge as Bitcoin Hits Two-Year High
Stocks tied to the price of bitcoin experienced significant gains as the cryptocurrency reached a two-year high and regained its $1 trillion market cap. Coinbase, Microstrategy, Iris Energy, CleanSpark, Marathon Digital, and Riot Platforms all saw their shares rise by double digits.
Topgolf Callaway Beats Expectations
Sports equipment company Topgolf Callaway advanced 6% after posting a narrower-than-expected adjusted loss for the fourth quarter. Topgolf Callaway’s revenue of $897 million also exceeded analysts’ estimates.
Akamai Technologies Misses Revenue Expectations
Cloud platform provider Akamai Technologies saw its shares slip 8% as it fell short of analyst expectations for fourth-quarter revenue. However, the company’s earnings per share exceeded estimates.
MGM Resorts International Reports Strong Q4 Results
MGM Resorts International reported better-than-expected earnings and revenue for the fourth quarter. Despite this positive news, the company’s shares dropped 8% due to labor costs and the effects of a strike in Detroit.
Kraft Heinz Falls Short on Revenue
Food products stock Kraft Heinz fell more than 6% after reporting fourth-quarter revenue that missed analysts’ expectations. However, the company’s adjusted earnings per share slightly exceeded estimates.
Airbnb Faces Pressure Despite Revenue Beat
Vacation property rental platform Airbnb saw its shares drop about 3% despite reporting a fourth-quarter revenue beat. The company’s loss per share was not immediately clear, and it warned of pressure on bookings in the first quarter.
Hasbro Rebounds After Disappointing Q4 Earnings
Toymaker Hasbro rebounded nearly 3% following a decline in the previous trading session. The company’s fourth-quarter earnings and revenue fell short of analysts’ estimates, and it provided weaker-than-expected guidance for full-year revenue.
Conclusion
In midday trading, several companies experienced significant stock movements. Uber’s shares soared on the announcement of a $7 billion share repurchase authorization, while Lyft beat earnings estimates, leading to a jump in its shares. IQVIA Holdings and Charles River Laboratories both exceeded expectations, boosting their stock prices. DaVita posted a beat on top and bottom lines, resulting in a 7% increase in its shares. Robinhood Markets surprised with an earnings beat, causing its stock to surge. Zillow also surpassed analysts’ estimates, leading to a rise in its shares. Additionally, crypto stocks surged as bitcoin reached a two-year high. Topgolf Callaway beat expectations, while Akamai Technologies missed revenue projections. MGM Resorts International reported strong Q4 results but saw its shares decline due to labor costs and strike effects. Kraft Heinz fell short on revenue but slightly exceeded earnings estimates. Airbnb faced pressure despite beating revenue expectations. Hasbro rebounded after disappointing Q4 earnings.
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