- Tesla (TSLA) shares fell as much as 10% during trading on Friday after the EV maker's shareholders approved a massive pay package for Elon Musk. Elon Musk responded in kind to Tesla Inc. investors approving his $1 trillion compensation package, making a series of extravagant predictions about what the company will be capable of in the years to come. Tesla’s humanoid robot will progress from simple tasks, like handing out bags of candy, to performing surgery with “beyond human” levels of precision, the chief executive officer said Thursday.- Expedia (EXPE) raised its full-year gross bookings and revenue outlook, signaling that strong travel trends are continuing into the holiday quarter. Revenue for the year is now expected to increase 6.5% at the midpoint, up from 3% to 5% previously, the company said Thursday in a statement. Analysts expected a 4.6% rise, according to Bloomberg-compiled estimates. It also sees gross bookings growing 7%, again ahead of estimates and Expedia’s previous guidance. Shares of Expedia rose as much as 18% in extended trading. The stock has been up 18% so far this year through Thursday’s close.- Sweetgreen (SG) declared that its ripple fries would “redefine fast food.” Made with hand-cut potatoes, salt, potato starch and parsley, they were air-fried in avocado oil and sold as “Fries You Can Feel Good About.” They lasted five months before disappearing from the menu. The fries were too complicated to make, and customers weren’t keen on adding them to their lunch bowls for $4.95 anyway. After all, they were already paying more than if they’d gone elsewhere. The ripple fries debacle earlier this year is just one of many operational missteps that have now pushed Sweetgreen Inc.’s stock to its lowest depths ever. The shares fell as much as 17% on Friday, after having dropped 81% this year through Thursday’s close.See omnystudio.com/listener for privacy information.
On this episode of Stock Movers:- Expedia (EXPE) delivered earnings yesterday and raised its full-year gross bookings and revenue outlook, signaling that strong travel trends are continuing into the holiday quarter. Revenue for the year is now expected to increase 6.5% at the midpoint, up from 3% to 5% previously, the company said Thursday in a statement. Analysts expected a 4.6% rise, according to Bloomberg-compiled estimates. It also sees gross bookings growing 7%, again ahead of estimates and Expedia’s previous guidance. Shares rallied as much as 18% in extended trading on Thursday and continued to rally on Friday.- Block (XYZ) saw its shares tumble today following earnings on Thursday. It raised its full-year profit forecast and posted strong growth in consumer banking, but its third-quarter revenues fell short of Wall Street’s expectations, a blow for one of the most closely watched fintech platforms. The fintech firm, which operates Cash App and Square, posted net revenue of $6.11 billion in the third quarter, falling short of the $6.34 billion consensus estimate. - Sweetgreen (SG) Sweetgreen declared that its ripple fries would “redefine fast food.” Made with hand-cut potatoes, salt, potato starch and parsley, they were air-fried in avocado oil and sold as “Fries You Can Feel Good About.” They lasted five months before disappearing from the menu. The fries were too complicated to make, and customers weren’t keen on adding them to their lunch bowls for $4.95 anyway. After all, they were already paying more than if they’d gone elsewhere. Shares slid in trading on Friday.See omnystudio.com/listener for privacy information.
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Expedia Rises, Sweetgreen Falls, Wendy's Jumps On Better-Than-Expected Results
Sweetgreen (SG) falls after the restaurant chain cut its revenue guidance for the full year, missing the average analyst estimate. William Blair downgrades its rating on the stock.Expedia (EXPE) rises after the online travel agency’s results pointed to strong and resilient travel demand. Peer Airbnb (ABNB) also rallies after the company gave a better-than-expected outlook for the holiday quarter.Wendy’s (WEN) rises after the company reported sales beat estimates by declining less than expected in the third quarter, further evidence that fast food is winning as cash-strapped consumers cut back on spending.See omnystudio.com/listener for privacy information.
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Expedia Rises, Airbnb Gains, Sweetgreen Falls After Rating Downgrade
On this episode of Stock Movers:- Expedia (EXPE) rises after the online travel agency’s results pointed to strong and resilient travel demand. Peer Airbnb (ABNB) also rallies after the company gave a better-than-expected outlook for the holiday quarter.- Airbnb Inc. (ABNB) rises after issuing a better-than-expected outlook for the holiday quarter, with a recently launched “reserve now, pay later” feature helping fuel demand in the US.- Sweetgreen (SG) falls after the restaurant chain cut its revenue guidance for the full year, missing the average analyst estimate. William Blair downgrades its rating on the stock.See omnystudio.com/listener for privacy information.
On this episode of Stock Movers:- Expedia (EXPE) shares rallied in the premarket session after the online travel agency’s results pointed to strong and resilient travel demand. The company raised its full-year gross bookings and revenue outlook, signaling that strong travel trends are continuing into the holiday quarter. Revenue for the year is now expected to increase 6.5% at the midpoint, up from 3% to 5% previously, the company said Thursday in a statement. Analysts expected a 4.6% rise, according to Bloomberg-compiled estimates- Sweetgreen (SG) shares plunged ahead of the US market open after the company cut its full-year outlook after third-quarter results unexpectedly worsened, with the salad chain citing stubbornly weak demand. The company now sees revenue in a range of $682 million to $688 million, according to a statement, below the previous range. It also lowered guidance for same-store sales, which measure established locations. Same-store sales in the third quarter fell 9.5%, deeper than the expected 6.3% decline. The drop was led by lower foot traffic and consumers opting for cheaper meal options, Sweetgreen said. It saw a slight benefit from higher prices during the quarter.- Shares of fast food giant Wendy's (WEN) rallied after reporting sales that beat estimate by declining less than expected in the third quarter - further evidence that fast food is winning as cash-strapped consumers cut back on spending. Sales from existing restaurants fell 3.7% in the third quarter, Wendy’s reported in a statement. That’s above average of analyst estimates. The company also maintained its outlook for the full year after slashing it twice in the previous two quarters.See omnystudio.com/listener for privacy information.
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