Midday movers: Coinbase surges; DoorDash, Roku drop

  • Investing.com
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Midday movers: Coinbase surges; DoorDash, Roku drop
(Updated - February 16, 2024 11:09 AM EST)

Investing.com -- Main U.S. indexes declined Thursday after data from the Labor Department showed hotter than expected producer prices in January, eroding confidence in near-term rate cuts from the Fed.

Here are some of the biggest U.S. stock movers today:

Coinbase (NASDAQ: COIN ) posted fourth-quarter income that topped Wall Street estimates, sending shares higher by 14%, as the approval of spot-Bitcoin exchange-traded funds boosted activity on the crypto exchange platform

DoorDash (NASDAQ: DASH ) shares dropped 11% after the delivery firm unveiled a wider-than-projected fourth-quarter loss due in part to elevated labor costs.

Semiconductor equipment maker Applied Materials (NASDAQ: AMAT ) popped 7% on a positive second-quarter revenue outlook fueled by strong demand for advanced chips used in artificial intelligence.

Roku (NASDAQ: ROKU ) shares fell 22% after the streaming-video service posted quarterly losses of $0.55 per share.

DraftKings (NASDAQ: DKNG ) shares were volatile after the sports gambling group reported lower-than-anticipated fourth-quarter adjusted core earnings.

Yelp (NYSE: YELP ) shares declined 14% after the online review website unveiled a weak outlook for its 2024 fiscal period.

Toast (TOST) shares rose 17% after the restaurant software maker announced that it would lay off about 10% of its headcount.

Trade Desk (NASDAQ: TTD ) shares surged 18% on a stronger-than-projected first-quarter financial forecast from the advertising technology firm.

Bloom Energy (NYSE: BE ) shares slumped 23% following a disappointing annual revenue guidance from the solid oxide fuel cell manufacturer.

Super Micro Computer (NASDAQ: SMCI ) declined 11%, paring its 30-day gain to 110%. Analysts initiated coverage on the stock with an ‘equal weight’ rating, saying shares already appear to price in earnings upside.

Vulcan Materials (NYSE: VMC ) gained 7% after the construction company reported quarterly earnings per share and revenue that topped expectations.

Additional reporting by Louis Juricic

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