Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.
Listen for a roundup of several companies delivering earnings:
- Booking (BKNG) with reported gross bookings for the fourth quarter that beat the average analyst estimate.
- Carvana (CNVA) posted strong profit growth in the fourth quarter that still missed Wall Street’s estimates due to higher-than-expected operating costs. Carvana’s shares fell more than 9% as of 4:06 p.m. in after-hours trading in New York. The stock had gained 23% in the 12 months through Tuesday’s close, more than the S&P 500 Index’s 12% advance.
- DoorDash (DASH) issued an earnings outlook that missed Wall Street’s expectations, with the delivery company warning that winter storms in the US and investments into growth areas will weigh on profits in the near term. Adjusted earnings before interest, taxes, depreciation and amortization for the first quarter will be $675 million to $775 million, the company said in a statement on Wednesday, falling far short of the average analyst estimate of $800.1 million. Shares of San Francisco-based DoorDash fell 7.2% in extended trading after closing at $173.38 in New York. The stock has been down about 23% so far this year.
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