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Live Stock News: RBLX Drops Like Rock, Drug Makers and Retailers Earn
Markets climbed after earnings calls came out from retailers and drug makers- one stock dropped 21%, and you'll never guess why.
Happy Thursday investors; it's February 6th, so let's check out the Live Stock News.
$Ralph Lauren (RL.US)$ climbed 15% at open after the company reported an 11% increase in quarterly revenue and raised its fiscal-year outlook. $Tapestry (TPR.US)$ soared 14% after the luxury fashion company reported a 5% increase in quarterly revenue and raised guidance Coach sold well, while Kate Spade fell.
Drugmaker $Eli Lilly and Co (LLY.US)$ climbed after fourth-quarter earnings that beat Wall Street expectations. $Bristol-Myers Squibb (BMY.US)$ on the other hand, fell after fourth-quarter earnings beat but forward guidance was not enough for Wall Street.
This afternoon, expect big firms to continue to report. $Amazon (AMZN.US)$ $Pinterest (PINS.US)$ $Affirm Holdings (AFRM.US)$ are expected.
Elsewhere in the economy, $Crude Oil Futures(MAY5) (CLmain.US)$ climbed slightly to $71/barrel, near a two month low.
Gold and silver pulled back from all-time highs, and treasuries climbed. $Bitcoin (BTC.CC)$ hovered at $97,000. Bitcoin hit lows nearly breaking 90k on Monday, but its volatility did not stop its biggest holder from buying more- you'll never guess what moomoo investors said about it.
Overall, the market climbed Thursday, barely.
Just past 11:23 am ET the $S&P 500 Index (.SPX.US)$ traded +0.24%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.18%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.25%.
Thursday macro showed 219k people filed for unemployment in the US last week, a little more than expected. Unit labor costs for the 4th quarter rose by 3%, high but lower than feared, while nonfarm productivify was revised lower.
$Roblox (RBLX.US)$ sank 21% after the firm again posted a loss, and bookings and average daily active users rose from in a year by 21% and 19%, but still missed Wall Street forecasts. Apparently, 85 million daily players was still not enough, and in the coming year, the firm expects up to $1.15 billion in bookings, below high Wall Street Expectations.
Yesterday, users were frustrated over $Strategy (MSTR.US)$ earnings, now called Strategy after a rebrand. The world's largest bitcoin holder reported a Q4 adjusted loss of $3.03/share, with a whopping 447,470 in their wallet. How did it get bitcoin? According to a press release, the firm said in the fourth quarter it pulled in $15 billion in cash by selling class A shares. Since Jan 1, the firm said it has pulled in $2.4B selling shares.
Traders, what do you think? What are you watching on the stock market today? What is the herd following? Let me know in the comments below! $S&P 500 (LIST91326.US)$
Want to keep up to date with the market and all its feelings-driven swings, all in under three minutes? Click here to follow the Live Stock Podcast topic. Comment below or in the hot topic for a chance to appear on the podcast! I want to talk about what you are investing in!
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Kevin Travers
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
Posts do not represent mm
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