Stock Gainers
Shares of Block Inc. (SQ) soared 18% after the fintech company Square, backed by Jack Dorsey, set an ambitious target of achieving $2.4 billion in adjusted EBITDA by 2024. This projection far exceeds analyst expectations of around $1.94 billion.
DraftKings Inc. (DKNG) saw a 7% increase in its stock during extended trading after the sports-gambling and fantasy website surpassed analyst revenue and earnings estimates in their quarterly report. The company also raised its full-year guidance range.
Paramount Global (PARA) experienced a 3% rise in its stock as the film, entertainment, and streaming giant reported third-quarter earnings and revenue that exceeded expectations. The company highlighted strong viewership for the NFL on CBS and an increase in sales at movie theaters.
Shares of Live Nation Entertainment Inc. (LYV) went up by 3% after the company declared this quarter as its “strongest quarter ever.”
Stock Decliners
Apple Inc. (AAPL) faced a 3% decline in its stock value after the tech giant reported a drop in revenue for the fourth consecutive quarter. Although overall sales exceeded expectations, the company fell short in the Chinese market.
Shares of Bill Holdings Inc. (BILL) plummeted by 33% as the financial software company revised its full-year sales guidance and expressed concerns about inflation and consumer uncertainty posing significant risks to its small-business customers.
Fortinet Inc. (FTNT) experienced a 23% decrease in its stock price as investors focused on missed fourth-quarter revenue estimates despite the company’s positive third-quarter earnings.
Atlassian Corp. (TEAM) saw an 8% decline in its stock during extended trading following the software company’s report of a widening loss.
