Markets react to big company swings: Akamai falls after a weaker outlook while Deere rockets to multi-year highs on an improved profit forecast. Omnicom and Etsy jump on beats and strategic moves. Klarna tumbles amid fresh losses and higher loan reserves, weighing on its stock.
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insights INSIGHT
Akamai's Beat Masks A Cautionary Guide
Akamai beat adjusted EPS but guided lower for the next quarter, signalling weaker near-term profitability.
The top end of Akamai's guide missed street expectations, explaining the aftermarket drop.
insights INSIGHT
Deere Prices In An Agricultural Recovery
Deere raised its annual profit outlook, driven by an anticipated upturn in agriculture and strength in other segments.
Shares jumped to multi-year highs as investors priced in a recovery for farm equipment demand.
insights INSIGHT
Etsy Boosted By Depop Sale
Etsy's share surge followed its sale of Depop to eBay for about $1.2 billion alongside quarterly results.
The deal and results combined to lift investor sentiment and drive a notable intraday gain.
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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.
- Akami Technologies (AKAM) shares are down 7% in extended trading, after the software company gave an outlook for adjusted earnings that is weaker than expected for both the first quarter and the full year.
- Deere (DEER) shares climbed the most in six years as the world’s largest farm-machinery maker boosted its annual profit outlook, anticipating a long-awaited upturn in the agriculture economy. Deere shares rose as much as 13%, the most intraday since March 2020, to an all-time high. The stock, one of the biggest gainers in the S&P 500 on Thursday, has rallied 44% this year on increased hopes for a recovery.
- Klarna (KLAR) has reported two consecutive quarters of losses and is struggling to convince investors to hold on for future profit, less than six month after its initial public offering. Shares in the payments firm are on course for their worst day since listing after Klarna reported a pretax loss of $241 million for last year, even as it pulled in record revenue. As the Stockholm-headquartered firm has expanded beyond its original buy-now-pay-later product into more lucrative longer-term credit, it’s had to set aside more money for potentially souring loans. Klarna has also increased its spending on technology, product development and marketing. In 2024, the firm reeled in a pretax profit of $33 million.
Stock Movers