Close

Midday movers: Coinbase surges; DoorDash, Roku drop

February 16, 2024 9:03 AM EST

(Updated - February 16, 2024 11:09 AM EST)

Investing.com -- Main U.S. indexes declined Friday after data from the Labor Department showed hotter than expected producer prices in January, eroding confidence in near-term rate cuts from the Fed.

Here are some of the biggest U.S. stock movers today:

Coinbase (NASDAQ: COIN) posted fourth-quarter income that topped Wall Street estimates, sending shares higher by 14%, as the approval of spot-Bitcoin exchange-traded funds boosted activity on the crypto exchange platform

DoorDash (NASDAQ: DASH) shares dropped 11% after the delivery firm unveiled a wider-than-projected fourth-quarter loss due in part to elevated labor costs.

Semiconductor equipment maker Applied Materials (NASDAQ: AMAT) popped 7% on a positive second-quarter revenue outlook fueled by strong demand for advanced chips used in artificial intelligence.

Roku (NASDAQ: ROKU) shares fell 22% after the streaming-video service posted quarterly losses of $0.55 per share.

DraftKings (NASDAQ: DKNG) shares were volatile after the sports gambling group reported lower-than-anticipated fourth-quarter adjusted core earnings.

Yelp (NYSE: YELP) shares declined 14% after the online review website unveiled a weak outlook for its 2024 fiscal period.

Toast (NYSE: TOST) shares rose 17% after the restaurant software maker announced that it would lay off about 10% of its headcount.

Trade Desk (NASDAQ: TTD) shares surged 18% on a stronger-than-projected first-quarter financial forecast from the advertising technology firm.

Bloom Energy (NYSE: BE) shares slumped 23% following a disappointing annual revenue guidance from the solid oxide fuel cell manufacturer.

Super Micro Computer (NASDAQ: SMCI) declined 11%, paring its 30-day gain to 110%. Wells Fargo initiated coverage with on the stock with an ‘equal weight’ rating, saying shares already appear to price in earnings upside.

Vulcan Materials (NYSE: VMC) gained 7% after the construction company reported quarterly earnings per share and revenue that topped expectations.

Additional reporting by Louis Juricic


You May Also Be Interested In





Related Categories

Hot List, Investing, Special Reports, Trader Talk

Related Entities

Earnings, Wells Fargo, Bitcoin