Etsy shares surged 11% on Thursday, after the online marketplace sold off its Gen Z-focused fashion resale platform Depop to EBay, with investors looking past dour quarterly results and forecasts.
Occidental beat Wall Street expectations for fourth-quarter profit, as strength in its midstream unit helped the U.S. shale producer offset weaker crude oil prices. Shares of the company rose 9.1%.
eBay forecast first-quarter revenue above Wall Street estimates and announced the acquisition of fashion marketplace Depop from Etsy for nearly $1.2 billion, sending its shares up 3.3%.
Food delivery company DoorDash forecast first-quarter marketplace gross order value above Wall Street estimates, buoyed by steady demand and aggressive expansion across grocery, retail and international markets. Shares of the company gained 3.3%.
Walmart shares rose 2.1% higher after the company's fourth-quarter results exceeded analyst expectations. However, its full-year earnings outlook fell short.
Online used-car retailer Carvana missed Wall Street estimates for fourth-quarter profit on higher costs, sending the company's shares tumbling 7.7%.
Avis Budget reported fourth quarter revenue that fell short of analyst expectations, sending shares tumbling 18% as the car rental giant continues to grapple with challenges in its electric vehicle fleet.
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