Market Updates
U.S. Movers: Airbnb, CVS Health, Disney, Lyft, Reddit, Super Micro
Scott Peters
07 Aug, 2024
New York City
Airbnb plunged 14.2% to $111.92 after the online booking platform reported a weaker-than-expected third-quarter outlook.
The booking platform operator estimated revenue to fall between $3.67 billion and $3.73 billion, slightly below analysts expectations of at least $3.85 billion.
Wynn Resorts declined 0.3% to $76.10 after the casino and resort operator reported weaker-than-expected revenue in the second quarter.
Reddit dropped 6% to $51.08, despite the social news company reporting better-than-expected second quarter revenue and earnings and issuing third quarter revenue in line with market expectations.
The company estimated revenue in the third quarter to fall between $290 million and $310 million.
Walt Disney & Company decreased 2.5% to $87.77 after the theme park operator reported better-than-expected quarterly results.
Lyft Inc. dropped 16.6% to $9.15, and the digital ride-hailing company issued weaker-than-expected third-quarter revenue guidance.
The company estimated gross booking in the third quarter to range between $4.0 billion and $4.1 billion and adjusted operating earnings between $90 million and $95 million.
CVS Health decreased 0.6% to $57.95 after the drugstore chain operator reported better-than-expected second quarter earnings, but the company lowered its full-year net income outlook, citing higher costs.
Super Micro Computer dropped 14.3% to $528.77 after the computer server company reported weaker-than-expected fiscal fourth quarter earnings.
The company also announced a 10-for-1 stock split.
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Earnings
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