There's disappointment all around this morning as several tech stocks reported worse than expected earnings results yesterday.
The threat of Russia invading Ukraine is still on the table, which could affect the energy markets.
S&P futures down 0.4% in Wednesday morning trading.
| NASDAQ | S&P 500 | BITCOIN |
|---|---|---|
| 14,139.76 (+2.53%) | 4,471.07 (+1.58%) | 44,142.61 (+1.24%) |
Here are some trending stocks today:
Investors are discussing Airbnb (ABNB) on Wednesday, after the company's stock climbed by 6.14% during Tuesday's session. Q4 was another record quarter for the group, and full-year results were outstanding. It's up 3% more pre-market. Click to discover if Airbnb Stock is a buy.
Roblox Corp (RBLX) didn't fare so well. Its earnings release disappointed after a good day of trading on Tuesday saw the company's stock climbed by almost 7.29%. Unfortunately, it is now down 15% pre-market to around $62. Over the past year, RBLX stock has traded between $53.63 and $141.6. Q4 earnings were hit by weaker revenues and commentary that monetization improvement will not come until late in Q2.
ViacomCBS (VIAC) is trending on Wednesday, after a good day of trading on Tuesday saw the company's stock climb by almost 2.74%. It released its Q4 earnings after hours yesterday with excellent results. It beat estimates on streaming numbers and raised its 2024 streaming sub guidance to 100m. And now ViacomCBS is changing its name to Paramount as it sets its sights on being a major player in streaming. It plans to launch Paramount+ in 45 markets by the end of 2022. This expansion will lead to higher costs, particularly in content spending.
Wix.Com Ltd (WIX) is another stock trending on Wednesday. It is down over 13% pre-market after suspending annual guidance and reporting disappointing revenues.
ZoomInfo Technologies Inc (ZI) is trading down over 10% pre-market on Wednesday, after shares jumped by 6.2% to close at $58.78 on Tuesday. Its Q4 earnings results were generally well-received but full-year 2022 revenue guidance disappointed.
Investors are discussing Akamai Technologies, Inc. (AKAM) on Wednesday after the company disappointed investors. Analysts are lowering their target prices on AKAM stock as guidance for 2022 is below expectations, and theirs some scrutiny surrounding Akamai's $900m acquisition of IaaS provider, Linode. Over the past year, AKAM stock has traded between $92.64 and $120.68.
Cloud-based restaurant software provider Toast (TOST) is down 15% pre-market after a wide quarterly loss.
Internet services company Angi Inc. (ANGI) is down 10% pre-market after reporting a poor quarter. Angi operates two online marketplace brands in North America: HomeAdvisor and Handy, which advertise trades such as plumbing, roofing and landscaping.
Some other stocks that are up in early market trading are:
Generac Holdings (NYSE: GNRC) 7%
Analog Devices, Inc. (NASDAQ: ADI) 3%
Pinduoduo Inc (NASDAQ: PDD) 1.75%
Kraft Heinz Co (NASDAQ: KHC) 1.5%