Market Updates
Movers: Coca-Cola, Fiverr, GitLab, Phillips, Schlumberger, Snowflake, Twitter, Verizon
Barry Adams
25 Apr, 2022
New York City
The Coca-Cola Company gave up early gains after reporting quarterly sales rose 16% and earnings surged 24% on price hikes and improved business mix.
Fiverr soared 6% on speculation that the stock may be cheap on historic metrics and ahead of its earnings release in two weeks.
GitLab surged 11% after KeyCorp raised its price target to $63 from $50 and assigned an "overweight" rating on the stock.
Koninklijke Philips NV plunged 12% after reporting lower than expected results and cited several threats to its annual outlook and expanded its recall of recently launched ventilators.
Snowflake Inc jumped 9% after Wolfe Research highlighted a strong product cycle and assigned a rating of "outperform" after initiating coverage of the cloud computing software developer.
Verizon Communications Inc declined 4% after Goldman Sachs downgraded the stock to "neutral" from "buy" rating citing recent large subscriber losses and high valuation.
Twitter Inc gained more than 4% after media reports suggested that the company may finalize its takeover deal with Elon Musk-led consortium of investors as early as today and ahead of its earnings release on Thursday.
Oil complex stocks trade down after crude oil fell more than 4% in New York and in international markets on the global slowdown worries.
Exxon Mobil declined 5%, Schlumberger dropped 10%, Chevron Corp, BP Plc, and Shell Plc dropped 4%,
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Earnings
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