Live Nation, Moderna, Booking Holdings and more
A smartphone screen and a computer display an illustration of the Live Nation Entertainment logo.
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These are the headline-grabbing companies that made news in trading on Thursday afternoon.
Live Nation – Shares of the live event producer popped more than 6% after the company reported a better-than-expected quarterly revenue. Live Nation reported that 45 million tickets were sold to 2022 events, even though ticket prices soared.
Moderna — Shares of the vaccine maker jumped nearly 11% on Thursday after Moderna reported better-than-expected results for the fourth quarter. On $7.2 billion in revenue, the biotech company made an adjusted $11.29 per stock. Refinitiv polled analysts to determine if they were expecting earnings of $9.90 per share and $6.78 trillion in revenue. CNBC was told by the CEO of Refinitiv that people will need another Covid booster shot this fall.
Gannett – The USA Today publisher’s shares tumbled 10.2% after it posted a quarterly loss that was wider than expected. Its revenues for the quarter ended below estimates. Gannett stated that it expected revenue to decline this year.
Alibaba – The Chinese e-commerce giant fell nearly 5% after it reported its slowest-ever growth in quarterly revenue since going public in 2014. As competition increased, Alibaba’s quarterly revenues fell below analysts expectations. Its quarterly earnings were however above Wall Street expectations.
Quanta Services – Shares of Quanta Services rose 9.7% in midday trading after the company reported stronger-than-expected quarterly earnings. According to Refinitiv, earnings per share were 14 cents higher than expected at $1.54 per shares.
Norwegian Cruise Line – The cruise line operator’s stock fell 5.2% after the company reported a wider-than-expected quarterly loss. Norwegian also missed its quarterly revenue estimates.
Papa John’s Pizza – Shares of the pizza chain dipped 2% amid a broad market sell-off, which overshadowed its better-than-expected profit and revenue for its latest quarter. Papa John’s didn’t provide guidance for 2022 due to uncertainty related to the pandemic.
Booking Holdings – Shares of Booking Holdings dropped more than 9% after the company warned that there will be periods this year when the pandemic negatively impacts travel demand. Booking Holdings’ adjusted quarterly earnings were $15.83 per share. This is well over the consensus estimate of $13.64, according to Refinitiv. Also, its revenue surpassed Wall Street’s forecasts.
– CNBC’s Jesse Pound and Maggie Fitzgerald contributed reporting.