On this episode of Stock Movers: - Paycom (PAYC) reported second-quarter results that beat expectations and raised its full-year forecast. Analysts also see potential from an AI product. Our Bloomberg Intelligence team sees the results as positive, “the company appears to be on pace to meet customer-count estimates,” and “the launch of AI-driven IWant, which requires full suite access, could drive sales by encouraging wider product adoption across all modules”- Fortinet (FTNT) shares tumbled as much as 26% on Thursday, in biggest intraday fall since August 2023, after the software company gave an update to its firewall refresh cycle. At least five analysts downgraded their rating on the stock saying the product refresh cycle is now looking like a “much smaller catalyst than expected. Bloomberg Intelligence analyst Mandeep Singh says, “Fortinet is unlikely to see any big lift from its product refresh cycle amid expectations of muted services gains through 2H”- Eli Lilly (LLY) tumbled as disappointing data on its new weight-loss pill overshadowed strong growth from the company’s current obesity medicine, which helped drive it to raise its yearly profit and sales outlook. Lilly’s results from an obesity pill study, a drug key to unlocking billions of dollars of growth, didn’t perform as well as Wall Street expected. It resulted in lower weight loss and higher rates of nausea and vomiting than anticipated, side effects associated with so-called GLP-1 drugs. The data was a boon for rival Novo Nordisk. Lilly fell more than 10% when markets opened in New York on Thursday. Novo rose as much as 14.3% in Copenhagen, the most in almost four months.See omnystudio.com/listener for privacy information.
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5:12
Airbnb Drops, DoorDash Gains, Duolingo Soars on Profit Outlook
On this episode of Stock Movers:- Airbnb (ABNB) shares drop after the company warned that growth rates may not keep up later this year due to tough year-ago comparisons. Airbnb’s outlook, combined with a lukewarm forecast issued by online travel peer Booking Holdings Inc., underscored how broader economic uncertainty is weighing on travel demand.- DoorDash (DASH) shares gain after the company reported second-quarter results that beat expectations and gave a positive forecast for Marketplace gross order value. The company attributed its better-than-expected second-quarter results to a growing number of active customers and increased engagement, with "high levels of consumer engagement in the US" evident across many metrics.- Duolingo (DUOL) shares soar after the the language-learning software company reported second-quarter results that beat expectations on key metrics and raised its full-year forecast. The company cited better-than-expected performance of its subscription tiers over the second quarter.See omnystudio.com/listener for privacy information.
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4:36
Intel Falls, Eli Lilly Drops, DoorDash Rises on Rosy Outlook
On this episode of Stock Movers:- Intel (INTC) shares fall after US President Donald Trump calls for the chipmaker’s chief executive officer to resign, because of what he called conflicts of interest. This adds to the challenges for a company that is supposed to anchor restoration of the US semiconductor industry.- Eli Lilly (LLY) shares drop after its' new weight-loss pill had lower weight loss and higher rates of nausea and vomiting than anticipated in a study, according to the company. Lilly’s sky-high valuation is tied in part to eventually turning its weight-loss pill into a blockbuster - DoorDash (DASH) shares rise after the company issued an outlook for orders in the third quarter that surpassed Wall Street’s expectations. It's a sign that demand for its services remains resilient despite broader concerns about consumer spending.See omnystudio.com/listener for privacy information.
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Intel Lower on Trump Post; Peloton Soars; Eli Lilly Drops on Drug News
On this episode of Stock Movers:- Intel (ITNC) shares are lower after President Trump called on the chief executive officer of Intel Corp. to resign because of what he called conflicts of interest, adding to the challenges for a company that is supposed to anchor restoration of the US semiconductor industry. A spokesperson for Intel didn’t immediately respond to a request for comment on Trump’s post. This week, Republican Senator Tom Cotton asked the chairman of Intel’s board to answer questions about Chief Executive Officer Lip-Bu Tan’s ties to China, including investments in the country’s semiconductor companies and others with connections to the country’s military. Intel said it would address the matters in the letter with the senator, stating that "Intel and Mr. Tan are deeply committed to the national security of the United States and the integrity of our role in the U.S. defense ecosystem".- Peloton (PTON) is soaring after it projected a sales decline for the current quarter and said it would cut jobs, but expressed confidence in a turnaround plan under new management. The company reported revenue of $607 million in the quarter ending in June, a 6% decline, but beat estimates, and said overall gross profit improved and operating expenses shrank by 20%. Peloton plans to cut 6% of its workers globally to reduce costs, and will also expand its microstore lineup, third-party retail availability, and create a unified division for selling equipment to gyms.- Eli Lilly (LLY) is lower on news its experimental pill helped patients shed roughly 11% of their body weight in a late-stage study. The result falls on the lower end of Wall Street's expectations, as investors had hoped the pill would be as effective as Novo Nordisk A/S's Wegovy. Full year revenue did come in higher in Eli Lilly's earnings today as well.- Airbnb (ABNB) are lower after issuing a better-than-expected outlook for the third quarter due to encouraging summer travel demand. The company expects growth rates to be "relatively stable" from the 7.4% achieved in the second quarter, but warned of tougher year-over-year comparisons later in the year.See omnystudio.com/listener for privacy information.
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4:48
Eli Lilly Drops on Weight Loss Results; Fortinet Tumbles; Airbnb Lower
On this episode of Stock Movers:- Eli Lilly (LLY) is lower on news its experimental pill helped patients shed roughly 11% of their body weight in a late-stage study. The result falls on the lower end of Wall Street's expectations, as investors had hoped the pill would be as effective as Novo Nordisk A/S's Wegovy. Full year revenue did come in higher in Eli Lilly's earnings today as well.- Novo Nordisk (NVO) shares are rising on the Eli Lilly news. Investors had hoped Lilly’s pill, called orforglipron, would be as effective as Wegovy — the blockbuster weight-loss shot made by Novo Nordisk A/S. Novo rose as much as 8.4% in Copenhagen on the Eli Lilly results, the most in almost four months.- Fortinet (FTNT) tumbled after the software company gave an update to its firewall refresh cycle. At least three analysts downgraded their rating on the stock saying the product refresh cycle is now looking like a “much smaller catalyst than expected.” - Airbnb (ABNB) are lower after issuing a better-than-expected outlook for the third quarter due to encouraging summer travel demand. The company expects growth rates to be "relatively stable" from the 7.4% achieved in the second quarter, but warned of tougher year-over-year comparisons later in the year.- Doordash (DASH) is higher as it issued an outlook for orders in the third quarter that surpassed Wall Street’s expectations, with a gross order value range of $24.2 billion to $24.7 billion. The company attributed its better-than-expected second-quarter results to a growing number of active customers and increased engagement, with "high levels of consumer engagement in the US" evident across many metrics.See omnystudio.com/listener for privacy information.
Stock Movers features five-minute conversations on today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.
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