Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
Cisco (CSCO) gave a weaker-than-expected forecast for profitability in the current quarter, overshadowing a generally positive outlook fueled by artificial intelligence gains. Cisco, the largest maker of networking equipment, has increased spending to create new AI-focused products. The tech industry also is coping with a threat from memory-chip shortages, which is boosting costs. The shares fell about 4% in late trading after the report was released. Cisco’s stock gained 30% last year.-
McDonald's (MCD) saw its US sales grow at the fastest pace in more than two years in the fourth quarter as value meals continued to resonate with cost-conscious diners. Sales from established US restaurants jumped 6.8% in the period from a year ago when foot traffic was dented by an E. coli outbreak, ahead of expectations and the highest since 2023. Earnings, excluding one-time items, also outpaced the average of estimates compiled by Bloomberg, as did comparable sales at the company’s two international divisions. The shares rose 2% at 4:04 p.m. in extended trading in New York. The stock has advanced nearly 6% this year, outpacing the gain of the S&P 500 Index over the same period.
- Zillow (Z) shares tumble as much as 18% on Wednesday after the home-search site forecast adjusted Ebitda for the first quarter that missed the average analyst estimate as the firm contends with legal costs and expenses from its partnership with Redfin.
See omnystudio.com/listener for privacy information.
