U.S. Movers: Apple, Live Nation Entertainment, Pool Corp., Rivian Automotive, Robinhood Markets

Scott Peters
24 Feb, 2025
New York City

Live Nation Entertainment Inc. dropped 1.9% to $149.40 after the ticket sales company reported lower revenue for the fourth quarter ending in December, impacted by weak concert sales.

Revenue declined to $5.68 billion from $5.82 billion, and consolidated operating loss expanded to $239.4 million from a loss of $81.5 million a year ago.

Revenue in full year 2024 increased to $23.15 billion from $22.73 billion, net income rose to $896.29 million from $556.89 million, and earnings per diluted share jumped to $2.74 from $1.34 a year ago.

For the first quarter of 2025, the company estimated revenue between $3.18 billion and $4.09 billion, compared to $3.8 billion in the same period in 2024.

Rivian Automotive Inc. eased 0.4% to $12.92 despite the electric vehicle manufacturer reporting revenue growth in the fourth quarter ending in December.

Revenue increased to $1.73 billion from $1.31 billion, net loss shrank to $744 million from a loss of $1.52 billion, and net loss per diluted share declined to 70 cents from a loss of $1.58 a year ago.

For fiscal 2025, the company estimated it would deliver between 46,000 and 51,000 vehicles, compared to 51,579 vehicles in 2024.

Capital expenditures are expected to be between $1.60 billion and $1.70 billion, compared to a negative $1.14 billion, and adjusted EBITDA is expected to be between $1.70 billion and $1.90 billion, compared to an EBITDA loss of $2.68 billion in 2024.

Pool Corp. eased 0.1% to $344.0 after the swimming pool equipment provider reported lower revenue in the fourth quarter ending in December.

Net sales decreased to $987.49 million from $1.00 billion, net income declined to $37.30 million from $51.44 million, and earnings per diluted share fell to 98 cents from $1.32 a year ago.

For fiscal 2025, the company estimated earnings per share between $11.08 and $11.58, compared to $11.30 per share in 2024, and a gross margin between 29.7% and 30.0%, compared to 29.7% in 2024.

Robinhood Markets jumped 1.5% to $52.32 after the online trading platform operator said that the SEC is going to drop its investigation into its crypto unit. 

Apple Inc. decreased 0.5% to $243.31, and the popular smartphone maker said it plans to invest $500 billion in the U.S. in order to boost its artificial intelligence capabilities.