At Extreme Investor Network, we strive to provide our readers with the most up-to-date and valuable information in the world of finance. Today, we are excited to share some key highlights of companies making headlines before the bell.
Shopify, the e-commerce platform operator, saw a 14% increase in its stock price after posting third-quarter operating income of $283 million, up from $122 million in the same quarter a year ago. Their revenue of $2.16 billion also surpassed expectations, coming in above a FactSet estimate of $2.12 billion.
Home Depot, the home improvement retailer, experienced a 1.7% rise in its shares after topping earnings expectations and raising its full-year outlook. Sales grew more than 6% on a year-over-year basis.
Live Nation Entertainment, the live music and entertainment company, saw its shares jump 5% after reporting an earnings beat for the third quarter. Although revenue of $7.65 billion missed consensus estimates of $7.75 billion, the earnings per share of $1.66 exceeded an LSEG estimate of $1.59.
Honeywell’s shares rallied 7% after Elliott Management disclosed a $5 billion stake in the industrial giant and recommended a separation of Aerospace and Automation to create more value for shareholders.
Twilio shares moved 1.7% higher following an upgrade at Wells Fargo, which sees Twilio as a key player in the next wave of AI-native applications.
IAC shares rose 3% on news of a potential spinoff of home improvement marketplace Angi.
In the world of cryptocurrency, some popular stocks took a breather as bitcoin eased from its recent highs. Coinbase, Robinhood, and Riot Platforms saw minor declines, while Microstrategy gained about 2%.
Trump Media & Technology shares pulled back 4% after a recent rally following the president-elect’s victory.
Okta, the security software stock, dipped 1.6% after a downgrade to hold from buy at Deutsche Bank, citing slower growth than expected.
SentinelOne shares rose 1.6% after an upgrade to buy from hold at Deutsche Bank, with a revised price target reflecting an 18% upside from Monday’s close.
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