Today’s Top Performers
Top stock gainers
The travel company Tripadvisor (NASDAQ:TRIP) soared by 7% as its Q4 earnings topped market projections on both top and bottom lines. The business reported adjusted EBITDA of $84M, or 22% of revenue, which came in higher than expected owing to a favorable channel mix and conservative marketing expenditure. Chief Financial Officer Mike Noonan stated, “In 2024, we will continue to prioritize our segment strategies which focus on long-term growth and profitability.”
Top stock losses
Despite outperforming profits forecasts in the second quarter and raising dividends, Cisco’s (NASDAQ:CSCO) shares sank by 5% after the release of weaker-than-expected projections and plans for company-wide layoffs. Cisco predicts Q3 adjusted EPS between $0.84 and $0.86, below the consensus of $0.92, and sales in the range of $12.1B to $12.3B, far below the expectation of $13.09B. Additionally, Cisco announced FY2024 guidance, anticipating adjusted EPS between $3.68 and $3.74 vs. the consensus of $3.86, with sales between $51.5B and $52.5B compared to the consensus of $54.41B. The corporation expects to lay off around 5% of its workers to concentrate on growth areas, expecting to pay approximately $800M in expenditures linked to the reorganization, largely for severance and termination benefits.
Shares of Twilio (NYSE:TWLO) plummeted by 13% on the company’s release of lower-than-expected revenue guidance for the current quarter. Twilio forecasts Q1 2024 sales to be between $1.025 billion and $1.035 billion, falling short of the average expectation of $1.05 billion. The business also predicts adjusted earnings per share to be in the range of $0.56 to $0.60, compared to a consensus of $0.54. CEO Khozema Shipchandler commented, “We enter 2024 from a position of strength, and the team is focused on further delivering on our customer engagement vision for our customers.”
Blink Charging (NASDAQ:BLNK) shares dropped 7%, giving back the 32% gain from the previous day, spurred by robust Q4 revenue predictions above estimates. The constructor of charging networks for electric vehicles projected 4Q sales to top $42 million, above the $34.3M average. Additionally, FY2023 revenue is predicted to reach $140M, exceeding its previously declared sales target of $128M to $133M. CEO remarked, “We are delighted with our record-breaking fourth-quarter and full-year 2023 sales increase. We witnessed considerable demand for both our equipment and services. This is the consequence of constant and methodical measures that we made to expand our product range and service offerings, supported by our vertical integration strategy and committed customer service staff.”
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Today’s Top Performers Today’s Top Performers Today’s Top Performers Today’s Top Performers