DoorDash, Hasbro, Palantir, Walmart and more
Monopoly board game from Hasbro is available at toy stores in New York City.
These are the headline-grabbing companies that made news in trading on Thursday afternoon.
DoorDash — Shares of DoorDash jumped more than 11% after the food delivery company’s quarterly revenue turned out better than expected. DoorDash generated $1.3 billion revenue in the last quarter. This beats a Refinitiv estimate at $1.28 trillion. DoorDash also saw strong orders and gained new customers, indicating that there is still a high demand for delivery of food services.
Palantir Technologies — Shares of Palantir dropped 10% after the company’s earnings fell short of forecastsIts revenue exceeded estimates for the fourth-quarter, however. It reported a net loss of $156.19million, which was more than the loss of $148.34million in the prior year.
Hasbro — The toymaker saw shares rise more than 3% after activist investor Alta Fox Capital Management nominated five directors to the company’s board. Alta wants Hasbro’s Wizards of the Coast and digital games units to be spun off. These include brands such as Dungeons and Dragons and Magic: The Gathering. Alta holds a 2.5% stake worth approximately $325 million in Hasbro.
Fastly — The cloud computing company’s shares plunged 30% on disappointing full year guidance. Fastly reported a quarterly loss of 30%, which was less than the analysts expected. Revenue beat estimates.
Nvidia — Shares of the chipmaker fell 6% despite the company reporting strong quarterly results. Nvidia stated that the automotive segment, which is an important growth market, saw its revenue fall 14%, to $125 millions. The company was also under fire for its vulnerability to the crypto market.
Cheesecake Factory — The restaurant chain saw its shares rise 4% despite it reporting earnings that missed analysts’ expectations along with increased input costs that negated a beat in revenue. Company plans to increase prices on new menus, which could lead to higher prices in the future.
Walmart — The retail giant’s shares rose more than 2% after Walmart topped earnings expectationsIt stated that it is on track to meet long-term financial goals, and called for an increase in adjusted earnings per share growth of the low single-digits.
Tripadvisor — The travel site operator fell 2.7% following an unexpected quarterly loss and a revenue miss. Tripadvisor indicated that the company expects that the travel market will improve in 2022, following “unexpected periods in virus resurgences” in 2021.
Cisco Systems — The software company added about 4% after it reported a beat on quarterly revenue and earnings and issued an upbeat full-year forecast, citing strong demand from cloud computing companies. Cisco earned 84c per share, beating estimates by 3 cents. The revenue came to $12.72 billion, which was higher than the estimates of $12.65 million.
Equinix — Digital infrastructure company Equinix gained more than 4% after TD Securities upgraded the stock to buy from hold, citing its recent pullback. This upgrade was made just days after Equinix reported fourth quarter adjusted EBITDA which beat expectations and a modest revenue increase.
— CNBC’s Yun Li contributed reporting.