© Reuters
(Updated – February 16, 2024 11:09 AM EST)
Investing.com — Main U.S. indexes declined Friday 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:) 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:) 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:) popped 7% on a positive second-quarter revenue outlook fueled by strong demand for advanced chips used in artificial intelligence.
Roku (NASDAQ:) shares fell 22% after the streaming-video service posted quarterly losses of $0.55 per share.
DraftKings (NASDAQ:) shares were volatile after the sports gambling group reported lower-than-anticipated fourth-quarter adjusted core earnings.
Yelp (NYSE:) 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:) shares surged 18% on a stronger-than-projected first-quarter financial forecast from the advertising technology firm.
Bloom Energy (NYSE:) shares slumped 23% following a disappointing annual revenue guidance from the solid oxide fuel cell manufacturer.
Super Micro Computer (NASDAQ:) 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:) gained 7% after the construction company reported quarterly earnings per share and revenue that topped expectations.
Additional reporting by Louis Juricic
This story originally appeared on Investing
