Several companies have made notable moves in after-hours trading, reflecting varied performance outcomes.
DoorDash saw its stock price surge approximately 10%, recovering from earlier losses. This increase followed the announcement of a 32% rise in total orders and a 38% boost in revenue for the fourth quarter year-over-year, although both figures fell short of analysts’ expectations.
Figma experienced a significant gain, with shares rising 16% after exceeding earnings and revenue estimates for the fourth quarter. The design software firm reported adjusted earnings of 8 cents per share and revenue of $303.8 million, outperforming the predicted 7 cents per share and $293.15 million in revenue, indicating a 40% year-over-year revenue growth.
In contrast, Etsy’s stock jumped nearly 16% after finalizing a deal to sell its consumer-to-consumer platform, Depop, to eBay for $1.2 billion in cash, which also caused eBay’s stock to rise over 6%.
Molson Coors Beverage saw its stock decrease by more than 6% due to a weak full-year earnings forecast, with projections suggesting an 11% to 15% decline in earnings per share. This outlook reflects concerns over commodity inflation impacting profitability.
Booking Holdings’ shares dropped nearly 1%, despite beating fourth-quarter expectations and raising its dividend. The company anticipates a 14% to 16% increase in first-quarter revenues.
Carvana shares plummeted 15% as adjusted EBITDA for the fourth quarter fell short of analyst estimates. Meanwhile, the Cheesecake Factory’s stock declined nearly 5% after reporting a same-store sales drop.
Occidental Petroleum, however, saw a 3% rise in its stock following fourth-quarter results that surpassed expectations, driven by strong oil production.
Why this story matters: Highlights the varied financial health and market reactions across different sectors.
Key takeaway: Companies like DoorDash and Figma showed strong performance while others, like Molson Coors and Carvana, faced setbacks.
Opposing viewpoint: Economic pressures highlight the vulnerability of some industries, suggesting potential instability in the market.
