Friday, December 2, 2022

Uber, Lyft, Airbnb, Starbucks and more

Shut-up of vertical signal with logos for ride-hailing firms Uber and Lyft.

Smith Assortment | Gado | Getty Pictures

Take a look at the businesses making headlines in noon buying and selling.

Lyft — Shares of Lyft tumbled about 32% after the ride-hailing firm issued disappointing guidance for the second quarter and mentioned it could enhance spending to draw more drivers, as a consequence of surging fuel costs.

Uber — The ride-hailing app noticed its stock drop nearly 8% after the company posted a massive loss on investments. Uber reported a lack of $5.9 billion in the course of the first quarter, which it mentioned was primarily as a consequence of its fairness investments in Seize, Aurora, and Didi. The sell-off got here whilst Uber posted surging income because it recovers from its coronavirus lows.

Advanced Micro Devices — The semiconductor inventory added 2.7% after beating revenue and earnings estimates in the recent quarter. AMD’s gross sales jumped 71% whilst analysts fear a couple of PC slowdown.

Starbucks — Shares jumped about 7% after Starbucks surpassed revenue expectations in its most recent earnings report. The espresso chain earned 59 cents per share on an adjusted foundation, assembly consensus expectations from Refinitiv. The agency posted $7.64 billion in income, in contrast with the $7.6 billion determine forecast by analysts from Refinitiv, following robust home gross sales that offset declines abroad.

Airbnb — The holiday rental inventory gained about 1.6% after Airbnb reported a smaller-than-expected loss for the first quarter. The corporate reported a lack of 3 cents per share on $1.51 billion in income. Analysts surveyed by Refiniv have been anticipating a 29-cent per-share loss on $1.45 billion of income. The corporate mentioned it had its highest variety of bookings on file and more than $1 billion in free money move in the course of the quarter.

Match Group — Shares of the online dating company fell roughly 1.5% after Match issued weak forward guidance and introduced its CEO Shar Dubey would step down on the finish of Might. Zynga President Bernard Kim will take over as chief government, Match mentioned.

CVS Health — CVS Well being rose 3% after the company beat estimates in the recent quarter and raised its forecast for the year. The corporate additionally mentioned it noticed a lower in demand for pandemic-related providers in the course of the first quarter.

Caesars Entertainment — Caesars Leisure’s inventory plunged more than 7% after the corporate reported quarterly outcomes. The on line casino operator posted $2.29 billion in income for the quarter, lacking analysts’ estimates of $2.35 billion, based on FactSet’s StreetAccount.

Skyworks — Shares of Skyworks plummeted more than 10% regardless of the semiconductor firm beating income estimates within the latest quarter. The corporate reported earnings that have been according to analysts’ estimates however shared weak ahead steering.

Akamai Technologies — Shares of Akamai fell 11% after the cybersecurity agency missed earnings estimates within the latest quarter. Income was according to expectations.

Generac — Generac’s inventory added 9% after the generator producer beat estimates on the highest and backside traces within the first quarter. The corporate posted $2.09 adjusted earnings per share on revenues of $1.14 billion. Analysts anticipated $1.94 a share on $1.09 billion in income.

Brinker International — Shares plummeted more than 16% as Chili’s mum or dad firm reported per-share earnings that have been 10 cents under estimates. Brinker Worldwide’s income fell according to estimates, however the firm issued weaker-than-expected ahead earnings steering.

— CNBC’s Tanaya Macheel, Yun Li, Jesse Pound, Sarah Min and Hannah Miao contributed reporting.

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