COIN, ABNB, WRD, GME and more
Check out the companies making headlines in midday trading. Warner Music Group — The entertainment stock popped 3% following an upgrade at Citi to buy from neutral. Citi analyst Jason Bazinet said that Warner Music’s multiple is “far below” those of its peers. Roku – Shares popped nearly 14% after the streaming company reported fourth-quarter results that beat analyst expectations. Roku lost 24 cents per share on revenue of $1.2 billion. Analysts expected a loss of 40 cents per share on revenue of $1.14 billion, per LSEG. The company also said households using its platform grew by 12% year over year in 2024. Airbnb – The stock rallied 14% after the travel company’s fourth-quarter numbers beat expectations . Airbnb earned 73 cents per share on revenue of $2.48 billion. Analysts polled by LSEG expected a profit of 58 cents per share on revenue of $2.42 billion. Twilio – Shares of the cloud communications company plunged nearly 14% on the heels of its weak earnings guidance. Twilio expects first-quarter earnings to come in between 88 cents and 93 cents per share, while analysts surveyed by LSEG had penciled in 99 cents per share. GameStop – The meme stock jumped more than 5% after sources familiar with the matter told CNBC that the video game retailer is considering investing in bitcoin and other cryptocurrencies. Still, GameStop is in the process of determining whether this makes sense for the company’s business, one source said. Wynn Resorts — The casino stock surged 10% after fourth-quarter results topped estimates. Wynn reported $2.42 in adjusted earnings per share on $1.84 billion of revenue. Analysts had penciled in $1.27 per share and $1.77 billion of revenue, according to FactSet. Net revenue was stronger than expected in Macao and Las Vegas. Applied Materials — The chipmaker tumbled nearly 7% after issuing a softer-than-anticipated revenue outlook that overshadowed better-than-expected quarterly results. Palo Alto Networks — Shares of the cybersecurity company declined 3% after free cash flow results for the latest quarter fell below estimates. Palo Alto reported $509.4 million in free cash flow for its fiscal second quarter, while analysts polled by FactSet forecast $694.9 million. To be sure, the company did beat estimates for the top and bottom lines. DraftKings — Shares soared nearly 11% after the sports betting company increased the lower end of its full-year revenue guidance. It now forecasts revenue to come in between $6.3 billion to $6.6 billion, bringing its midpoint to $6.45 billion. Analysts polled by LSEG were anticipating full-year revenue of $6.39 billion. Meanwhile, DraftKings’ fourth-quarter results fell short of analysts’ estimates. WeRide — The Chinese self-driving technology stock surged about 80% after Nvidia revealed it holds a $25 million stake in the company, according to a 13F regulatory filing. Coinbase — The crypto marketplace tumbled nearly 7% despite earnings coming in ahead of forecasts . Coinbase reported $4.68 per share in earnings on revenue of $2.27 billion, while analysts polled by LSEG anticipated $1.81 in earnings per share and $1.88 billion in revenue. GoDaddy — Shares fell 13% after GoDaddy issued lighter-than-expected revenue guidance for the first quarter. The online domain registration company expected revenue to fall between $1.175 million and $1.195 billion in the first quarter, the low end of which falls below the $1.19 billion consensus estimate, per FactSet. — CNBC’s Fred Imbert, Lisa Kailai Han, Alex Harring, Yun Li, Sean Conlon and Jesse Pound contributed reporting
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