Movers: Carvana, Cinemark, Coinbase, DraftKings, DoorDash, Expedia, Funk, Starbucks, Twilio
- Scott Peters
- U.S.A. New York City
-
Starbucks sales advanced and comparable store sales in North America jumped. Funko plunged on weak outlook. DraftKings dropped on looming recession worries. Twilio results dragged cloud computing stocks.
Carvana Company plunged 37.2% to $9.01 after the online used car retailer said total sales fell 3% and vehicle sales dropped 8% and net loss margin increased to 15%.
Cinemark Holdings, Inc rose 9,8% to $11.65 after the operator of movie theater chains reported earnings ahead of expectations.
Third quarter revenue increased 50% to $650.4 million from $434.8 million from a year ago.
Net loss in the quarter shrank to $24.5 million from $77.8 million and diluted loss per share declined to 20 cents from 65 cents a year ago.
The company operates a network of 5,835 movie screens, and the company has commitments to open two new theatres and 19 screens during the rest of 2022 and seven new theatres and 55 screens in the coming years.
Coinbase Global Inc rose 4.4% to $58.32 and the cryptocurrency exchange swung to a quarterly loss of $545 million after revenue plunged more than 50% to $590 million after transactions declined.
DraftKings Inc plunged 26.7% to $11.49 after the online sports betting company reported a quarterly loss that was smaller-than-expected by some analysts.
DraftKings plunged after the company said that the company's business is vulnerable to an economic downturn and may be negatively impacted if consumer spending weakens.
DoorDash Inc rose 6.30% to $50.66 after the local delivery services provider said September quarter orders rose 27% to 439 million, gross order volume jumped 30% to $13.5 billion.
Third quarter revenue increased 33% to $1.7 billion from $1.28 billion a year ago.
Net loss jumped to $295 million from $101 million and diluted loss per share rose to 77 cents from 30 cents a year ago.
Expedia Group gained 5.9% to $92.81 and the online travel services provider said third quarter revenues increased 22% to $3.6 billion and net income advanced 333% to $482 million or $2.98 a diluted share.
In the quarter, room-nights booked increased 22% to 81.6 million and gross bookings jumped 28% to $24 billion.
The company said it resumed stock repurchase and has completed the buyback through October of 2 million shares for $200 million.
Funko Inc plunged 57.3% to $8.32 after the maker of licensed collectibles reported weaker-than-estimated third quarter results and guided a loss in the fourth quarter.
Net sales in the third quarter increased 36.6% to $365.6 million and net income dropped 39.3% to $11.1 million from a year ago.
Diluted earnings per share declined to 19 cents from 28 cents a year ago.
The company guided full-year 2022 revenue between $1.29 billion and $1.33 billion and guided fourth quarter gross margin to decline because of seasonality and inventory management.
Starbucks Corporation soared 8.2% to $91.66 after the coffee chain said fiscal fourth quarter results were negatively impacted by travel restrictions in China but North America comparable sales jumped 11%.
September quarter revenue increased 3% to $8.4 billion from $8.1 billion a year ago.
Net income dropped to $878.3 million from $1.764.6 million and diluted earnings per share declined to 76 cents from $1.49 a year ago.
In the quarter, the company opened 763 net new stores around the world totaling 35,711 stores.
North America sales rose 6%, or 15% adjusted for an extra week in the previous year, to $6.1 billion on 11% increase in comparable store sales.
Twilio Inc plunged 34.6% to $42.74 after the third quarter revenue growth slowed to 33% and the company guided fourth quarter revenue growth between 18% and 19%.
Cloud computing stocks took a beating on the worries that the industry maybe slowing faster-than-estimated.
ZoomInfo Technologies declined 6.3%, Cloudflare plunged 18%, Bill.com fell 8.4% and ServiceNow declined 6.5%.
Annual Returns
Company | Ticker | 2025 | 2024 | 2023 |
---|---|---|---|---|
Carvana Co. | CVNA | -5% | 297% | 973% |
Coinbase Global Inc. | COIN | 1% | 47% | 308% |
Funko Inc. | FNKO | 13% | 55% | -17% |
Twilio Inc. | TWLO | 0% | 43% | 57% |
Cinemark Holdings Inc | CNK | 2% | 116% | 15% |
Expedia Group Inc | EXPE | -1% | 23% | 59% |
Starbucks Corporation | SBUX | 18% | -5% | -3% |