Dropbox experienced a significant setback, with its stock declining by almost 13%, following the company’s announcement of lower-than-anticipated revenue guidance for the first quarter.
Dropbox now predicts revenue to be in the range of $627 million to $630 million, falling short of analysts’ expectations of $632.5 million, as per FactSet.
In contrast, Ingersoll Rand saw its shares rise by nearly 6% before the market opening. This surge came after the industrial products firm surpassed Wall Street’s projections for both revenue and earnings in the fourth quarter.
Ingersoll reported 86 cents per share, excluding certain items, on revenue totaling $1.82 billion, surpassing analysts’ estimates of 77 cents per share in earnings and $1.77 billion in revenue, as per FactSet.
Vulcan Materials witnessed a more than 2% increase in its stock price following better-than-expected fourth-quarter earnings. Adjusted earnings for Vulcan amounted to $1.46 per share, exceeding the anticipated $1.40 per share, as forecasted by FactSet analysts.
Shares of Applied Materials surged by approximately 12% after the semiconductor production equipment company reported fiscal first-quarter results that surpassed consensus estimates.
Additionally, the company issued a second-quarter revenue guidance that exceeded analyst expectations. Applied Materials expects second-quarter revenue to reach approximately $6.5 billion, surpassing FactSet analysts’ estimates of $6.34 billion.
Conversely, Roku saw its shares decline by 17% after reporting a fourth-quarter loss wider than analysts’ expectations, amounting to 55 cents per share compared to the forecasted loss of 52 cents per share by analysts polled by LSEG (formerly Refinitiv).
Despite this, Roku provided an optimistic revenue forecast for the first quarter, surpassing analysts’ estimates.
DoorDash experienced a nearly 8% drop in its stock price after reporting a larger-than-expected loss in the fourth quarter.
While the company exceeded revenue estimates and announced a share repurchase program worth $1.1 billion, it reported a loss of 39 cents per share, higher than the anticipated loss of 16 cents per share by analysts polled by LSEG.
Super Micro Computer observed a more than 6% increase in shares, with Wells Fargo initiating coverage of the information technology stock with an equal weight rating.
This comes shortly after Bank of America initiated coverage of the stock with a buy rating and a $1,040 price target. Super Micro’s stock surged 253% this year, closing at $1,004.00 on Thursday.
Wayfair’s stock rose by as much as 4.7% following an upgrade to a strong buy-from-market performance by Raymond James. The firm cited expectations of Wayfair nearing a demand bottom and anticipated cost-cutting measures positively impacting its cash flow.
