Coinbase Global — Shares surged 8.84% after the cryptocurrency exchange reported its first profit in two years. Coinbase’s fourth-quarter earnings came in at $1.04 per share, above the 1 cent loss expected from analysts polled by LSEG, formerly known as Refinitiv. Revenue was $954 million, versus the consensus estimate of $822 million.
Roku — The streaming service provider slid 23.81% after posting a larger-than-expected loss for the fourth quarter. Average revenue per user, a key metric for Roku, also missed estimates.
Applied Materials — Shares of the semiconductor equipment maker jumped 6.35% on the company’s better-than-expected fiscal first-quarter results and strong second quarter. The stock was also on pace for its best day since Nov. 10, 2022, when it surged 11%.
Yelp — Shares tumbled 14.35% after the company gave disappointing full-year guidance. Yelp expects full-year revenue to come in between $1.42 billion and $1.44 billion, less than the $1.46 billion expected from analysts polled by LSEG. Its adjusted EBITDA guidance for the first quarter and full year were also light.
Vulcan Materials — The construction materials company added 5.23% following a fourth-quarter earnings beat. Vulcan’s adjusted earnings per share came in at $1.46, topping the $1.40 expected from analysts polled by FactSet.
Toast — The stock jumped nearly 16.77% after the restaurant management software company beat expectations for fourth-quarter earnings and revenue. Toast also said it plans to cut 500 jobs and announced $250 million in share buybacks.
Dropbox — Shares shed 23.93% after the cloud storage company issued lower-than-expected first-quarter revenue guidance. Dropbox now forecasts revenue in the range of $627 million to $630 million, versus the $632.5 million expected from analysts polled by FactSet.
Trade Desk — The stock popped 17.46% after the advertising software company said it expects first-quarter revenue to come in at $478 million, topping the $452 million guidance expected from analysts surveyed by LSEG.
DoorDash — Shares tumbled 8.13% after the food delivery platform posted a larger-than-anticipated loss for the fourth quarter. DoorDash reported a loss of 39 cents per share, bigger than the loss of 16 cents forecast from analysts surveyed by LSEG. Elsewhere, the company beat expectations for revenue and announced a $1.1 billion share repurchase program.
Super Micro Computer — The information technology company shed 19.99% after Wells Fargo initiated coverage of the stock with an equal weight rating. The firm said shares are “already discounting solid upside.” The stock has rallied 212% year to date.
Bloom Energy — The green energy stock slumped 17.46% after the company reported an earnings and revenue miss for the fourth quarter. Guidance for the full year also fell short of expectations.
Carvana — Shares dropped 8.92% after Raymond James downgraded the used car dealer to underperform from market perform, expressing doubt in Carvana’s near-term growth outlook.
Nvidia — Shares initially climbed 1% but ended down 0.06% after Loop Capital initiated the chipmaker with a buy rating and a price target that calls for 65% upside over the next 12 months.
