U.S. Movers: Carvana, DoorDash, eBay, Moderna, Peloton, Qualcomm, Wayfair

Scott Peters
02 May, 2024
New York City

DoorDash plunged 9.9% to $114.80 after the food delivery company reported a wider-than-expected loss in its latest quarter. 

Revenue increased 23% to $2.5 billion from $2.05 billion, net loss attributable to shareholders shrank to $25 million from $161 million, and diluted loss per share fell to 6 cents from 41 cents a year ago. 

In the first quarter, total orders increased by 21% to 620 million, and gross sales volume rose by 21% to $19.2 billion, driven in part by a more than 100% increase in the new vertical, grocery delivery. 

Free cash flow increased to $487 million from $316 million, and operating cash flow rose to $553 million from $397 million a year ago. 

Carvana soared 35% to $118.0 after the automotive retailer reported higher-than-expected revenue in the first quarter. 

Net sales in the first quarter rose to $3.06 billion from $2.60 billion, net income attributable to shareholders swung to a profit of $28 million from a loss of $160 million, and diluted earnings per share were 23 cents from a loss of $1.51 a year ago. 

Vehicles sold in the first quarter rose 16% from a year ago to 91,878, and gross profit jumped to 19.3%. 

Gross per unit in the first quarter jumped to $6,802 from $6,432 a year ago. 

eBay Inc. declined 3.8% to $49.11 after the online marketplace operator estimated weaker-than-expected revenue in the current quarter. 

Revenue in the first quarter increased 2% to $2.55 billion from $2.51 billion, net income declined 23% to $439 million from $569 million, and diluted earnings per share dropped to 85 cents from $1.05 a year ago. 

The company estimated second-quarter revenue in the range of $2.49 billion and $2.54 billion, an increase between -1% and +1%.

The online marketplace operator estimated second-quarter diluted earnings per share between 76 cents and 81 cents. 

Qualcomm increased 5.2% to $172.78 after the advanced chipmaker reported better-than-expected earnings in its latest quarter and issued strong guidance for the current quarter. 

Revenue in the fiscal second quarter ending on March 24 rose 1% to $9.38 billion, net income surged 37% to $2.3 billion from $1.7 billion, and diluted earnings per share advanced 36% to $2.06 from $152 a year ago. 

During the fiscal second quarter, the company returned $1.6 billion to stockholders, including cash dividends of $895 million, or 80 cents per share, and $731 million through repurchases of 5 million shares of its own common stock.

The company guided fiscal third quarter revenue to range between $8.8 billion and $9.6 billion and GAAP earnings per share between $1.74 and $1.94.  

Moderna rose 1.9% to $113.67 after the vaccine maker reported a smaller-than-expected quarterly loss in its latest quarter after the company trimmed operating costs. 

Wayfair Inc. advanced 7.5% to $54.31 after the online furniture retailer reported a narrower loss in its latest quarter, partly driven by layoffs. 

Total net revenue in the first quarter declined 1.6% to $2.72 billion from $2.77 billion, net loss shrank to $248 million from $355 million, and diluted loss per share eased to $2.06 from $3.22 a year ago. 

Active customers in the first quarter increased by 2.8% from a year ago to 22.3 million. 

The company processed 9.6 million orders in the quarter, a decline of 1%, and repeat customers placed 7.7 million, an increase of 1.3% from a year ago, respectively. 

The average order value in the first quarter decreased to $285 from $287 in the corresponding period a year ago. 

Peloton Interactive increased 13% to $3.61 after the company announced its plans to lay off 15% of its staff, and chief executive officer Barry McCarthy will be stepping down. 

McCarthy will act as a strategic adviser to the company through the end of the year, and chairperson Karen Boone and director Chris Bruzzo will assume the roles of interim co-CEO.