US markets opened lower on Thursday as investors were spooked by sharply rising inflation, with the CPI Index showing a 7.5% annual gain in January. Even so, the impact of this has been partially offset by positive earnings reports after the bell on Wednesday.
Oil prices are roughly level, while Bitcoin (BTC) is lower and gold is up.
| NASDAQ | S&P500 | Bitcoin |
|---|---|---|
Here are some of Thursday's trending stocks:
Twilio (NYSE: TWLO) shares are storming higher after the communication technology firm reported revenue ahead of expectations and noted that there appear to be “attractive opportunities” for the company in the months ahead.
Walt Disney Co (NYSE: DIS) is also making gains on the back of strong earnings, with the entertainment giant reporting better than anticipated streaming subscriber growth and solid booking levels at its resorts.
Datadog (NASDAQ: DDOG) shares are in the green after the company released its quarterly earnings, with revenue climbing by more than 80% after the company successfully attracted bigger spending customers.
Twitter (NASDAQ: TWTR) fell short of analysts’ expectations in its fourth quarter amid a slowdown in advertising spend, though the social media giant also announced a new $4bn share buyback program.
Special purpose acquisition company (SPAC) SilverBox Engaged Merger Corp I (NASDAQ: SBEA) rocketed upwards on Wednesday as it announced the closing of its business combination with Black Rifle Coffee Company parent company Authentic Brands.
Uber (NYSE: UBER) also beat estimates, with the company’s food delivery service chipping in by turning its first quarterly profit.
MGM Resorts International (NYSE: MGM) surpassed earnings expectations once more, with consolidated net revenues rising by 105% to $3.1bn as the company benefitted from the return of consumers.
Roblox (NYSE: RBLX) is generating buzz after announcing a partnership with the National Football League (NFL) ahead of the Super Bowl this weekend, with the two parties set to collaborate on NFL-related content and gameplay.
Lumen Technologies’ (NYSE: LUMN) share price has stumbled following the release of earnings, with the communications services firm having missed EPS and revenue expectations.
PepsiCo (NASDAQ: PEP) saw its revenues jump on the back of higher prices but the beverage maker cautioned that costs of ingredients and packaging are set to increase, creating a challenging environment in 2022.