Before the open: AppLovin +21%, Qualcomm −7%, Zillow −16%
In short
- After the 4 November close AppLovin jumped about 21% (revenue $2.18bn; Q4 guidance of $2.37–2.40bn against $2.25bn expected) and Qualcomm fell about 7% on a soft earnings outlook.
- Zillow (−16%), Dutch Bros (−17%) and Fastly (−14%) are among the weakest; Coherent is up about 5%. CVS closed Wednesday down 12.5%.
- At 06:57 a.m. Bitcoin is $80,509, +4.0% in 24 hours. US stocks open at 16:30 Sofia time.
Before the 16:30 Sofia time open, the biggest moves are in stocks that reported last night: AppLovin is up about 21%, Zillow down 16% and Qualcomm down about 7%. These figures come from after-hours trading; prices at the open can differ.
What happened
According to Investing.com, AppLovin reported earnings of $4.30 a share (expected $4.04) and revenue of $2.18 billion ($2.08 billion). Guidance for the fourth quarter is $2.37–2.40 billion against $2.25 billion expected. The shares are up about 21%; StockTitan gave about 23% in a later snapshot. Coherent is up about 5% on guidance above expectations.
Qualcomm is down about 7%: earnings were $2.17 a share, as expected, but guidance has a midpoint of $2.25 against a $2.27 consensus. Zillow is down 16%: earnings of $0.55 (expected $0.59), revenue of $724 million ($754.4 million) and fourth-quarter guidance of $635–665 million against $708.6 million. Dutch Bros (−17%) now expects full-year revenue of about $2.1 billion against a $2.131 billion consensus. Fastly (−14%) is falling even after guidance above expectations; Investing.com puts that down to profit-taking after a long rally.
Snap is down 9–11% (depending on the snapshot), HubSpot is also lower on fourth-quarter guidance below expectations, and Expedia is down about 8.5% (StockTitan). In the regular session on Wednesday CVS closed down 12.5% after announcing a plan to split into two companies.
The indexes closed higher on Wednesday: Dow Jones at 53,356 (+3.03%), S&P 500 at 7,689 (+1.58%) and Nasdaq at 25,737 (+1.44%).
HawkValue crypto data at 06:57 a.m.: Bitcoin $80,509 (+4.0% in 24 hours, +0.8% in a week), Ethereum $2,425 (+6.4% on the day). Cointelegraph reports that Bitcoin rose above $80,500 as Wall Street opened on Wednesday.
What it means for you
The maths: a 21% rise on a $1,000 position is $1,210; a 16% fall is $840. To get from $840 back to $1,000 a stock needs to rise 19.0%; to erase a 21% rise it has to fall 17.4%. After-hours trading has thin volume, so at the open moves can fade or reverse.
Three things are worth watching at 16:30 Sofia time: whether AppLovin holds its gain, how Qualcomm and Zillow open, and whether Bitcoin stays around $80,000.
See also: stock prices and crypto prices.
Bottom line
After-hours moves are a fact, not a promise for the open. In most of these reports it is the guidance for the next quarter, not the result for the last one, that moves the price.
Sources: HawkValue data at 06:57 a.m.
For information only. This is not investment advice.
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