Acquisitions Drive Big Gains
Brighthouse Financial (BHF) surged 26% after Aquarian Capital agreed to acquire the insurer for $70 per share in cash, valuing the deal at $4.1 billion.
Golden Entertainment (GDEN) jumped 36% after announcing it would be acquired by Blake Sartini for $30 per share, a 41% premium to the prior close. Both deals are expected to finalize in 2025.
Earnings Shake Up the Tech and Consumer Sectors
Datadog (DDOG) climbed 21% after reporting stronger-than-expected third-quarter results and raising its full-year outlook. The company posted adjusted earnings of 55 cents per share on $886 million in revenue, beating Wall Street forecasts.
Duolingo (DUOL) fell 29% after issuing weaker fourth-quarter bookings guidance, despite beating Q3 revenue estimates with $271.7 million.
Snap (SNAP) jumped 10% after unveiling a $500 million buyback program and confirming a $400 million AI integration deal with Perplexity AI.
AppLovin (APP) gained 3% following a Q3 revenue beat and strong guidance for Q4.
Fortinet (FTNT) dropped 7% after lowering full-year revenue guidance despite beating profit expectations.
HubSpot (HUBS) fell 18% even after posting better-than-expected results, as investors focused on conservative outlooks for 2025.
Mixed Results Across Industries
Haemonetics (HAE) rose 25% after quarterly results topped consensus estimates and boosted its full-year forecast.
Cogent Communications (CCOI) plunged 32% after missing expectations, cutting its dividend, and suspending buybacks.
Qualcomm (QCOM) slipped 4% as investors reacted to concerns over losing Apple as a future modem customer, overshadowing an earnings beat.
Under Armour (UAA) fell 5% despite topping earnings and revenue estimates.
DoorDash (DASH) tumbled 15% on disappointing profits, while Lyft (LYFT) climbed 7% on stronger results.
e.l.f. Beauty (ELF) dropped 31% after issuing weak full-year guidance, while Papa John’s (PZZA) slipped 3% as buyout interest faded.
WSA Take
Markets saw sharp divergence across sectors as earnings volatility continued to drive individual stock performance. Tech and consumer names remain highly reactive to guidance changes and M&A headlines, while investors rotate cautiously into value sectors after recent corrections.
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