In a volatile trading session, several prominent companies experienced significant stock price fluctuations driven by their latest earnings reports and forecasts. Informatica's shares took a steep dive of 33% after issuing a dismal forecast for the current quarter. Meanwhile, Airbnb delivered a surprise by surpassing both top- and bottom-line expectations for the fourth quarter, propelling its shares to soar more than 13%. Similarly, Roku's shares surged 14% after the company's fourth-quarter results exceeded market expectations.
Coinbase, on the other hand, saw its shares slide 2.5% despite beating earnings forecasts. Twilio faced a tougher day, with its shares tumbling 8.8% due to weak earnings guidance. Palo Alto Networks also saw a decline, as its shares fell over 4.4% following free cash flow results that did not meet estimates.
DaVita's stock took a hit, dropping 9% after the company issued a weak outlook in the face of rising care costs. In contrast, GameStop rallied with an 8% increase after sources familiar with the matter revealed to CNBC that the company is contemplating investments in bitcoin and other cryptocurrencies. Berkshire Hathaway continued its strategic moves by offloading some shares in a pre-planned arrangement.
Dexcom experienced a modest gain of 3% after reaffirming its full-year revenue guidance, while DraftKings' shares climbed 5.4% subsequent to raising the lower end of its full-year revenue expectations. Moderna faced a setback as its shares retreated 4%, following a loss of $2.91 per share in the fourth quarter, which was wider than analysts had anticipated.
Informatica's gloomy forecast projected first-quarter revenue between $380 million and $400 million, falling short of the $412 million expected by analysts polled by LSEG. Applied Materials also saw its shares slide 4.8% after offering a softer-than-anticipated revenue outlook that overshadowed otherwise positive quarterly results.
Airbnb emerged as a standout performer, although specific revenue figures for the fourth quarter were not disclosed. The company's impressive earnings performance provided a much-needed boost to its stock price.