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Today's Morning Movers and Top Ratings: CVNA, QCOM, PTON, MRNA and More

Movers and Shakers wrote a column · May 2 07:11
Morning Movers
Gapping up
$Carvana(CVNA.US)$ soared by 35% following the company's unexpected prediction of an increase in retail sales and fundamental earnings for the current quarter, driven by consumers gravitating towards pre-owned vehicles due to rising interest rates.
$Qualcomm(QCOM.US)$ climbed 5.6% after the semiconductor manufacturer projected sales and adjusted earnings for the quarter that exceeded forecasts, spurred by an increase in both the volume and price of the advanced chips it sells for smartphones equipped with artificial intelligence capabilities.
$Peloton Interactive(PTON.US)$ increased by 7.5% following the announcement that chief executive Barry McCarthy would be leaving the connected-fitness firm amidst an ongoing decline in its share price.
$Moderna(MRNA.US)$ increased by 1.4% after the pharmaceutical company reported a smaller loss for the first quarter than anticipated, thanks to successful cost-reduction initiatives and vaccine sales for Covid that exceeded expectations.
Gapping down
$DoorDash(DASH.US)$ tumbled over 11% following the company's projection of a lackluster annual profit forecast, indicating that increased expenses were negating some of the benefits from the growth in grocery and food delivery orders.
$Zillow-A(ZG.US)$ dropped 5.9% after the digital real estate platform's projected revenue for the second quarter, anticipated to be between $525 million and $540 million, fell short of the approximately $560 million that had been broadly anticipated.
$eBay(EBAY.US)$ declined by 3.4% following the online retailer's projection of second-quarter revenue that did not meet expectations, attributing the shortfall to diminishing consumer interest.
$Fastly(FSLY.US)$ plummeted by 34% after the cloud computing service provider issued second-quarter and full-year 2024 earnings forecasts that were below expectations, attributing the downturn to decreased revenue coming from some of their major clients.
Source: CNBC;
US Top Rating Updates on 05/02
Today's Morning Movers and Top Ratings: CVNA, QCOM, PTON, MRNA and More
Source: Dow Jones
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