Movers: Credit Suisse, Coursera, Dexcom, Doximity. Expedia, Lyft, Mr Cooper, Newell, PayPal, Thomson Reuters, Yelp

  • Scott Peters
  • U.S.A. New York City
  • Feb 10, 2023
  • Yelp Inc reported record quarterly revenue and forecasted upbeat earnings. Lyft struggled to scale during the post-pandemic recovery. Newell Brands forecasted cautious economic backdrop. Dexcom prepares for the release of new glucose monitoring device.

    Credit Suisse AG increased 3.5% to $3.18 after the troubled Swiss bank reported its biggest loss since 2008 and held out for more losses in 2023. 

    Credit Suisse dropped 11% in the previous trading session, after the release of quarterly results.  

    Credit Suisse said revenue in the December quarter dropped 20% to Sfr3.0 billion and net loss shrank to Sfr1.4 billion from Sfr2.1 billion and assets under management dropped 20% to Sfr1.3 trillion.

    Coursera Inc declined 15% to $12.40 after the online learning solutions provider reported a larger loss and the company's 2023 forecast disappointed some investors. 

    Coursera said revenue in the December quarter increased 24% to $142.2 million and net loss expanded to $51.7 million from $47.7 million and loss per share rose to 35 cents from 34 cents a year ago.

    Dexcom, Inc soared 9.9% to $117.90 after the diabetes monitoring company's earnings were ahead of expectations and the company prepares to launch a new glucose monitoring device. 

    Dexcom said revenue in the December quarter increased 17% to $815.2 million and net income rose to $91.8 million from $5.3 million and diluted earnings per share increased to 22 cents from 1 cents a year ago.

    Doximity Inc dropped 12.5% to $31.85 after the online medical professionals networking platform reported a decline in earnings and forecasted weak 2023 results. 

    Doximity said revenue in the December quarter increased 18% to $115.3 million and net income fell to $33.5 million from $55.6 million and diluted EPS fell to 16 cents from 26 cents a year ago.

    Expedia Group Inc declined 8.5% to $108.14 after the online travel agency reported a decline in earnings and the company said travel demand has rebounded after inclement weather in the fourth quarter. 

    Gross bookings increased 17% to $20.5 billion and booked room nights increased 19% to 70.8 million in the quarter. 

    Expedia said fourth quarter revenue increased 15% to $2.6 billion and net income dropped 36% to $177 million from $276 million and diluted EPS declined to $1.11 from $1.70 a year ago.

    "While our Q4 results were negatively impacted by severe weather, demand was otherwise strong and accelerating, and has been markedly stronger since the start of the year,” Chief Executive Peter Kern said in a statement.

    Kern added that the year began "with record app usage and member counts, led by Expedia US."

    Expedia stocks have dropped about 40% over the last one year on the worries that high travel prices and restrained consumer spending is forcing the travel demand slowdown. 

    Lyft Inc dropped 36.7% to $10.32 after the online ride-hailing company reported record quarterly revenue but weak forecast for the current quarter and earnings outlook. 

    Lyft said fourth quarter revenue increased 21% to $1.2 billion and net loss expanded to $588.1 million from $283.2 million, Lyft guided first quarter 2023 revenue of $975 million.

    Analysts were quick to lower their views on the stock after the company's guidance reflected its struggle to regain its footing in the post-pandemic recovery. 

    The company is also facing higher-than-anticipated costs in defending its market share against its larger rival with a deeper network of drivers and customers. 

    Mr. Cooper Inc rose 3.5% to $46.21 despite the mortgage services provider reported a sharp decline in earnings.  

    Mr. Cooper said revenue in the December quarter declined 41% to $303 million and net income plunged to $1 million from $113 million and diluted earnings per share declined to 1 cents from $1.55 a year ago.

    Newell Brands Inc fell 2.2% to $14.27 after the company issued cautious outlook for the economy and forecasted a loss in the first quarter. 

    Newell said revenue in the December quarter fell 19% to $2.3 billion and the company swung to a loss of $249 million from a profit of $98 million. 

    Diluted loss per share in the period was 60 cents compared to a profit of 23 cents a year ago.

    PayPal Holdings Inc rose 0.7% to $78.99 after the payment processor forecasted upbeat earnings outlook and the company said chief executive plans to retire by the year's end. 

    PayPal said fourth quarter revenue increased 7% to $7.4 billion and net income increased 15% to $921 million from $801 million and diluted EPS rose to 81 cents from 68 cents a year ago.

    Thomson Reuters Corp increased 4.4% to $120.13 after the information and news publisher swung to a profit in the fourth quarter. 

    Thomson Reuters said revenue in the fourth quarter rose 3% to $1.7 billion and the company swung to a $282 million profit from a loss of $175 million. 

    Diluted earnings per share was 59 cents compared to a loss of 36 cents in the previous year. 

    The company said the recurring revenue from subscription products rose 7% from a year ago, providing stability for the year ahead that is expected to macroeconomic headwinds. 

    The company said it plans to complete its $2 billion stock repurchase program by April and return $2 billion to shareholders after the sale of the $5.6 billion stake held in the London Stock Exchange Group stemming from the Refinitiv transaction.  

    Thomson Reuters reiterated its target for 2023  revenue growth excluding the impact of divestitures between 5.5% and 6%. 

    The company trimmed its free cash flow estimate to $1.8 billion, from a previously released range of $1.9 billion to $2 billion.

    Yelp Inc increased 4.4% to $32.14 after the online business review platform operator reported record revenue and forecasted upbeat advertising revenue outlook for 2023. 

    Yelp said revenue in the December quarter increased 11.6% to $303 million and net income fell to $20.1 million from $23.4 million and diluted earnings per share declined to 28 cents from 30 cents a year ago.

    The company expects 2023 net revenue in the range of $1.29 billion to $1.31 billion and estimated adjusted EBITDA or operating earnings in the range of $290 million to $310 million.

Annual Returns

Company Ticker 2025 2024 2023
Credit Suisse AG DGLD 0% 0% 0%
DexCom Inc DXCM -1% -36% 6%
Expedia Group Inc EXPE -1% 23% 59%
Mr Cooper Group Inc COOP -1% 46% 55%
PayPal Holdings Inc PYPL 4% 39% -11%
Coursera Inc. COUR 1% -57% 51%
Doximity Inc. DOCS -8% 108% -20%
Lyft Inc. LYFT 5% -13% 30%
Newell Brands Inc NWL -0% 15% -36%
Yelp Inc YELP 1% -19% 69%