During Market hours on Friday – 11.02.2022:

  • The Dow (Symbol: DIA) went down 0.8%. The S&P 500 (Symbol: SPY) dropped 0.6% and the Nasdaq (Symbol: QQQ) lost 1.1%.
  • Roku (Symbol: ROKU) — Roku shares were down 22.2% after the company reported revenue for the most recent quarter that fell short of analysts’ forecasts. Roku also issued a weaker-than-expected outlook due to higher component prices and supply chain disruptions.
  • DraftKings (Symbol: DKNG) — Sports betting company DraftKings saw shares tumble 21.6% after it reported a narrower-than-expected quarterly loss and issued guidance projecting a wider-than-expected adjusted loss for the full year.
  • Bloomin’ Brands (Symbol: BLMN) — Shares of the Outback Steakhouse parent jumped 7.5% after the company reported a quarterly earnings beat and a modest revenue beat. Bloomin’ also reinstated its quarterly dividend and announced a new $125 million share buyback program.
  • Redfin (Symbol: RDFN) — The real estate brokerage’s shares tumbled by 20.1% after RBC Capital Markets downgraded the stock to sector perform from outperform, calling the bull case for the stock “broken.” Redfin on Thursday reported a smaller-than-expected loss for the fourth quarter and beat on revenue. Real estate services unit and gross margins missed expectations.
  • Pilgrim’s Pride (Symbol: PPC) — Shares of the poultry producer sank 13.6% after the Brazilian meatpacker JBS withdrew from plans to buy the remaining 20% of the company it doesn’t already own, saying the two sides couldn’t agree on terms of a deal.
  • Intel (Symbol: INTC) — Shares of Intel were down 5.3%, leading laggards on the Dow Jones Industrial Average. Bank of America reiterated an underperform rating on the stock.
  • General Electric (Symbol: GE) — The electric company saw its shares slide 5.8% after it provided a profit outlook for 2022 saying supply chain challenges continue to pressure its health care, renewable energy and aviation businesses and could remain through the first half of 2022. “As a result, supply chain headwinds may continue to partially mask the significant progress we are making across our businesses,” the company said in an 8-K filing.

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