Microsoft shares dropped 3.7% in overnight trading after the software maker forecast slower quarterly cloud revenue growth, reflecting the company’s struggle to bring data centers online fast enough to keep up with demand for artificial intelligence services.
$Meta Platforms$ reported third quarter earnings ahead of expectations, powered by a 19% revenue increase. But Meta stock dipped about 3% in overnight trading as Chief Executive Mark Zuckerberg pledged to keep up the company's big spending on AI and the metaverse.
Trump Media & Technology shares dropped another 6.8% in overnight trading. The shares snapped their rally after tumbling more than 22% Wednesday — their sharpest decline in nearly seven months. The other Trump-linked Phunware fell 8.7% in overnight trading..
Coinbase shares dipped 4.6% in overnight trading after the largest US crypto exchange posted results below Wall Street expectations even though revenue almost doubled.
Bitcoin hedge-fund proxy MicroStrategy posted a third consecutive quarterly loss after taking an impairment charge against the value of its roughly $18 billion stockpile of the cryptocurrency. And the company announced plans to raise $42 billion over the next three years to buy more Bitcoin. The company’s shares fell 1.8% in overnight trading.
Riot Platforms shares slid 6% in overnight trading after the bitcoin miner's Q3 loss came in wider than Wall Street had expected.
Carvana shares surged 20.1% in overnight trading after the online used-car platform blew past Wall Street’s expectations for its third quarter, calling for 2024 profits at the high end of its guidance.
Roku on Wednesday forecast fourth-quarter core profit below Wall Street expectations due to high operational costs and said it would stop reporting streaming household metrics in its quarterly results from fiscal year 2025. The shares tumbled 11.6% in overnight trading.
Teladoc Health shares jumped 11.6% in overnight trading after the company issued a Q3 earnings report and revenue forecast that topped Street estimates.
Online marketplace Etsy beat quarterly estimates for gross merchandise sales, board approved $1 bln share repurchase. The shares jumped 6% in overnight trading.
Ecommerce firm eBay forecast fourth-quarter revenue below Wall Street estimates on Wednesday as cautious consumers shun collector's items and refurbished goods, sending its shares down 6.7% in overnight trading.
Online travel agency Booking Holdings beat analysts' expectations for third-quarter profit and revenue on Wednesday, as resilient demand for international travel offset the weakness in domestic travel in the U.S. and China. Shares of the company rose 6.6% in overnight trading.
MGM Resorts International missed market expectations for third-quarter profit and revenue on Wednesday, hurt by weak sales in its Las Vegas casino business, sending its shares down 5.8% in overnight trading.
Twilio shares jumped almost 12% in overnight trading after the communications tools provider reported better-than-expected earnings and revenue in its fiscal 2024 third quarter and revised its forecast upward for the rest of the year.
Lemonade stock jumped 11.9% in overnight trading after Q3 results topped Wall Street expectations, even as the company saw elevated catastrophe losses during a quarter marked by two destructive hurricanes.
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