Li Auto's stock surged nearly 14% after unveiling its first fully electric sports utility vehicle, the Li I8. The debut of this innovative model marks a significant milestone for the company, capturing investor interest and boosting confidence in Li Auto's future prospects. Meanwhile, Zoom Communications experienced a 4% decline in shares following a revenue guidance that fell short of market expectations.
In the retail sector, Home Depot reported mixed financial results. The company's stock added 1% after revealing fourth-quarter revenue of $39.7 billion, surpassing the consensus estimate of $39.16 billion. However, the home improvement giant anticipates a 2% decrease in adjusted earnings per share from the previous year, casting a shadow over its impressive revenue figures.
Eli Lilly made headlines by launching higher dose vials of its weight loss drug, Zepbound, at a lower price for self-pay patients through its direct-to-consumer website. This strategic move aims to enhance accessibility and affordability for consumers seeking weight management solutions. On the other hand, Cleveland-Cliffs reported a disappointing loss of 92 cents per share for the fourth quarter, falling short of analysts' expectations of a 61-cent loss.
In the cryptocurrency world, Bitcoin remains approximately 20% off its all-time high reached on President Donald Trump's inauguration day. This dip reflects ongoing volatility in the digital currency market, impacting investor sentiment and market dynamics.
Zoom Communications managed to beat adjusted earnings expectations for the fourth quarter, posting in-line revenue figures. Despite this positive performance, the company's shares slipped due to the underwhelming revenue guidance. Meanwhile, Chegg is embroiled in a legal battle with Google, accusing the tech giant of damaging its traffic and revenue through artificial intelligence summaries of search results.
Hims & Hers Health faced a steep 22% drop in shares after failing to meet fourth-quarter expectations. Similarly, Krispy Kreme's shares fell more than 18% following disappointing quarterly results. Keurig fared better, reporting quarterly adjusted earnings of 58 cents per share on revenue of $4.07 billion.
Tempus AI experienced a 14% decline in shares as its fourth-quarter revenue fell short of expectations. Chegg also suffered a significant blow, with shares plummeting approximately 20% after posting a net loss of $6.1 million on revenue of $143.5 million in the fourth quarter.