US markets finished in the red on Thursday and look set to drop further on the final day of the week following the news that inflation has hit its highest level in four decades. Among individual stocks, earnings continue to dominate the news flow, though a failed rocket launch has also caught investors' eyes.
Oil, gold and Bitcoin (BTC) are all trading higher.
| NASDAQ | S&P500 | Bitcoin |
|---|---|---|
| 14,185.64 (-2.10%) | 4,504.08 (-1.81%) | 43,809.64 (+0.80%) |
Here are some of today's trending stocks:
Affirm Holdings (NASDAQ: AFRM) shares took a dive on Thursday after the company’s second-quarter earnings, which missed expectations, were partially leaked early. Read more about this story here.
Cloudflare (NYSE: NET) had a slightly smoother time with its earnings release, which showed the cybersecurity company’s revenue and earnings both exceeded expectations.
Edtech outfit 2U Inc (NYSE: TWOU) released an update that outlined declining revenue and disappointing guidance, which sent the company’s stock spiraling more than 55% lower on Thursday.
Confluent (NASDAQ: CFLT) shares were sharply lower in premarket trading despite the company’s earnings appearing to beat expectations, with the data streaming platform reporting 71% fourth-quarter revenue growth to $120m.
Aurora Cannabis (NASDAQ: ACB) had something of a mixed bag with its results, with the cannabis grower reporting a loss but beating sales expectations.
Zillow Group (NASDAQ: ZG) posted healthy results, with the real estate marketplace operator reporting a loss of just 42 cents per share, way below its projected loss of $1.07.
Astra Space (NASDAQ: ASTR) shares crashed lower after the space exploration company failed to deliver its first commercial payload to space at the third attempt. The launch of the rocket, which was developed in partnership with NASA, was declared a failure five minutes after it blasted off.
Turning our attention back to earth, Expedia (NASDAQ: EXPE) was another stock drawing attention with its earnings. The travel company beat expectations and downplayed the impact of the latest COVID-19 wave.
Cassava Sciences (NASDAQ: SAVA) enjoyed a bump in premarket trading after the Food and Drug Administration said it would not investigate an Alzheimer’s drug being developed by the company despite pressure from short-sellers.
Under Armour (NYSE: UAA) had a mixed set of earnings, with the sportswear company’s profits exceeding analysts’ expectations but its warnings that supply chain issues will cause margin problems in the coming months causing consternation among investors.