Here are the day’s biggest movers:
Stock gainers:
Shares of Block Inc.
SQ,
soared 14% after the Jack Dorsey-backed parent of fintech company Square set its sights on 2024 adjusted EBITDA of $2.4 billion, far outpacing analyst expectations around $1.94 billion.
Shares of Cardinal Health Inc.
CAH,
rallied 8.2% into record territory after the drug distributor reported fiscal first-quarter profit that beat expectations and raised its full-year outlook, while revenue came up a bit shy.
DraftKings Inc.’s stock
DKNG,
was up 8.7% i after the sports-gambling and fantasy web site posted quarterly results that topped analyst revenue and earnings estimates, and raised its full year guidance range.
Expedia Group Inc.
EXPE,
soared by 15.4% at the top gainer in the S&P 500
SPX
after the travel services company’s board authorized a $5 billion stock buyback representing about 35% of its recent market capitalization. The company also reported third-quarter adjusted profit of $5.41 a share, ahead of the FactSet consensus estimate of $4.96 a share.
FuboTV Inc.
FUBO,
soared by 8.4% after the sports-first TV-streaming company reported third-quarter revenue and record paid subscribers that rose well above expectations.
Gartner Inc.‘s stock
IT,
soared by 16.5% after its third-quarter adjusted earnings of $2.56 a share easily beat the FactSet consensus estimate of $1.96 a share.
Icahn Enterprises LP‘s stock
IEP,
rose 13.4% after its third-quarter loss narrowed from a year ago while revenue was ahead of expectations.
Paramount Global’s stock
PARA,
rose 9.6% after the film, entertainment and streaming giant reported third-quarter earnings and revenue that beat expectations and highlighted strong viewership for the NFL on CBS and gains in sales at movie theaters.
Stock decliners:
Apple Inc.‘s stock
AAPL,
dropped 1% after the tech giant posted a revenue drop for the fourth straight quarter, topping overall sales expectations but coming up short in China.
Bill Holdings Inc. shares
BILL,
plunged 29% after the financial software company cut its full-year sales guidance and said inflation and consumer uncertainty pose a bigger threat to its small-business customers.
Shares of Fortinet Inc.
FTNT,
dropped 16.6% after investors looked past a third-quarter earnings beat for the cybersecurity company to focus on missed fourth-quarter revenue estimates.
Atlassian Corp.’s stock
TEAM,
sunk 4.7% after the software company reported a wider loss.
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