24H|Alibaba Gains 2%; GameStop Jumps 9%; Roku Surges 11%; Airbnb Pops 14%; Coinbase Drops 2%; Informatica Tanks 33%

Tiger Newspress
14 Feb

GameStop shares surged 8.9% in overnight trading following a report the video game retailer is considering investing in cryptocurrencies such as bitcoin.

Coinbase reported better-than-expected fourth-quarter results and its biggest quarterly revenue in three years, strengthened by a raging postelection rally that pushed crypto prices to new high after new high at the end of last year. While the stock dropped 2.1% in overnight trading.

Roku forecast annual revenue above Wall Street estimates and topped fourth-quarter revenue expectations on Thursday, signaling strong advertising sales as more customers switch to streaming platforms, sending its shares up 11.2% in overnight trading.

Airbnb shares jumped 13.6% in overnight trading after the company reported fourth-quarter earnings and revenue that beat analysts’ estimates.

Chinese ADRs gained in overnight trading. YINN rose 2%; JD.com rose 3%; Alibaba rose 2%; XPeng and Bilibili rose 1%.

Twilio shares fell 7.7% in overnight trading after the communications software maker reported fourth-quarter results and offered up guidance for the coming quarter that missed estimates by a considerable margin.

DraftKings reported fourth-quarter earnings that beat expectations and raised its sales guidance for the current year, overcoming concerns about a tough market for sports-betting operators. The shares jumped 5.7% in overnight trading.

Palo Alto Networks shares sank 5.3% in overnight trading after issuing a disappointing earnings outlook for the current quarter, despite rivals including Fortinet Inc. and Check Point Software Technologies Ltd. posting strong results.

Applied Materials forecast second-quarter revenue below market estimates on Thursday, expecting escalating geopolitical tensions to weigh on sales of its chipmaking equipment, sending its shares down 4.8% in overnight trading.

Informatica, the cloud data management company tanked 32.5% in overnight trading on a bleak outlook for the current quarter. Informatica sees first-quarter revenue ranging between $380 million and $400 million, while analysts polled by LSEG anticipated $412 million. Full-year revenue guidance also missed the mark, with the company calling for $1.67 billion to $1.72 billion, versus the Street’s forecast for $1.78 billion.

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