Nvidia experienced a 2% decline in midday trading, extending the more than 4% loss from Tuesday ahead of its quarterly earnings release after the market close. Investors eagerly await insights into the duration of the chipmaker’s significant growth cycle.
SolarEdge Technologies witnessed a 14% drop in its shares following its latest earnings report. Despite a smaller-than-expected loss per share, revenue fell well short of analysts’ estimates. The company anticipates first-quarter revenue to range between $175 million and $215 million, significantly lower than the forecasted $406 million.
Teladoc shares plummeted by 24% the day after the online healthcare company reported revenue and guidance below expectations.
Revenue stood at $661 million, missing the $671 million consensus forecast, while the reported loss per share of 17 cents was narrower than the anticipated 21 cents. Teladoc’s revenue guidance for the current quarter, ranging between $630 million and $645 million, also fell short of analysts’ estimates.
Palo Alto Networks saw its cybersecurity stock tumble by 26.3% after revising its full-year revenue and billings guidance. The company now expects revenue growth for the full year to range between 15% and 16%, down from the previous forecast of 18% to 19%.
Despite beating fourth-quarter expectations on both the top and bottom lines, RingCentral provided a weak outlook for the current quarter and a mixed forecast for the full year, leading to a 3.5% increase in its shares.
Toll Brothers’ shares surged over 5% following its better-than-expected earnings report, with earnings per share at $2.25 compared to the estimated $1.78 and revenue reaching $1.93 billion, surpassing expectations.
Barclays’ upgrade of Norfolk Southern to overweight from equal weight drove a 2% increase in its shares, citing upcoming leadership changes, including the departure of CEO Alan Shaw, as a catalyst for the upgrade.
S&P Dow Jones Indices announced that Amazon would replace Walgreens Boots Alliance in the Dow Jones Industrial Average next week, causing Amazon’s shares to rise by 0.8%. In comparison, Walgreens Boots Alliance shares fell by 2%.
HSBC’s U.S.-traded shares fell over 8% after reporting falling profit and revenue in the fourth quarter, coupled with a $3 billion charge on a writedown of its stake in China-based Bank of Communications.
Despite reporting fourth-quarter earnings and revenue that exceeded analysts’ estimates, Wingstop’s shares declined by 4% due to a slowdown in total revenue growth for the fourth consecutive quarter. The company anticipates mid-single-digit domestic same-store sales growth for the full year.
Shares of Beyond Meat fell over 1% following the announcement that a new version of its plant-based burger is set to launch in grocery stores this spring, aiming to reignite consumer interest amid declining enthusiasm. The stock has declined by over 20% this year.
Wix.com shares surged by 8% after the website builder reported fourth-quarter earnings of $1.22 per share, surpassing the consensus estimate of 96 cents per share, and revenue of $403.8 million, beating the expected $402.6 million.
Garmin’s shares soared by 11% after reporting fourth-quarter earnings and revenue that exceeded expectations, along with an optimistic full-year forecast. The company also announced an increase in its quarterly dividend and a $300 million stock repurchase plan.
International Flavors & Fragrances witnessed a more than 8% drop in its shares following fourth-quarter earnings that missed estimates and an announcement of a dividend cut. Full-year revenue estimates also fell short of analysts’ expectations.
