The board game Monopoly by toymaker Hasbro at a toy store in New York City.
Check out the companies making headlines in midday trading Thursday.
DoorDash — Shares of DoorDash jumped 10.6% after the food delivery company’s quarterly revenue turned out better than expected. DoorDash reported $1.3 billion in revenue last quarter, beating a Refinitiv estimate of $1.28 billion. The company also posted strong order numbers and added new users, suggesting that demand for food delivery services remains high.
Palantir Technologies — Shares of Palantir dropped 15.7% after the company’s earnings fell short of forecasts for the fourth quarter, though its revenue beat estimates. Its reported net loss was $156.19 million, wider than the $148.34 million loss seen in the year-earlier period.
Hasbro — The toymaker saw shares rise 2% after activist investor Alta Fox Capital Management nominated five directors to the company’s board. Alta is pushing for Hasbro to spin off its Wizards of the Coast unit and its digital games unit, which include franchise brands like Dungeons and Dragons and Magic: The Gathering. Alta owns a 2.5% stake in Hasbro worth around $325 million.
Fastly — The cloud computing company’s shares plunged 33.6% on disappointing full year guidance. Fastly reported a fourth quarter loss, though it was narrower than analysts had expected, and revenue beat consensus estimates.
Nvidia — Shares of the chipmaker fell 7.5% despite the company reporting strong quarterly results. Nvidia noted that its automotive business, which represents a growth market for its chips, had revenue drop 14% to $125 million. It also came under pressure on concerns about its exposure to the cryptocurrency market.
Cheesecake Factory — The restaurant chain saw its shares rise 4% before pulling back, despite it reporting earnings that missed analysts’ expectations along with increased input costs that negated a beat in revenue. The company is planning a price increase in new menus that could lift prices later this year.
Walmart — The retail giant’s shares rose 4% after Walmart topped earnings expectations and said it’s on track to hit long-term financial targets, calling for adjusted earnings per share growth in the mid single-digits.
Tripadvisor — The travel site operator fell 2.5% following an unexpected quarterly loss and a revenue miss. Tripadvisor said it expects the travel market to improve significantly in 2022 following what it called “unexpected periods of virus resurgence” in 2021.
Cisco Systems — The software company added 2.7% after it reported a beat on quarterly revenue and earnings and issued an upbeat full-year forecast, citing strong demand from cloud computing companies. Cisco earnings of 84 cents per share beat estimates by 3 cents. Revenue came in at $12.72 billion, versus estimates of $12.65 billion.
Equinix — Digital infrastructure company Equinix gained 2.6% after TD Securities upgraded the stock to buy from hold, citing its recent…
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