Top Movers
By Athena Xu
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The S&P 500 Index modestly ascended by 0.1% to close at 5,187.70 on Tuesday, hinting at a tempering of the earlier bullish momentum this month. Investors remain divided on the market's ability to maintain its current trajectory. Amidst this backdrop, several companies stood out in after-hours trading, presenting a mixed bag of earnings that could influence investor sentiment in the days to come.
Dutch Bros (BROS) emerged as a notable performer, with its shares surging 10% following the announcement of first-quarter comparable sales that exceeded expectations. The drive-thru coffee chain also uplifted its revenue and adjusted Ebitda forecasts for the year, signaling robust growth prospects. Similarly, Lyft (LYFT) enjoyed a 4.8% uptick in its shares after reporting first-quarter gross bookings, revenue, and adjusted Ebitda that surpassed analyst predictions, offering a positive outlook for the ride-hailing sector.
In the technology domain, Reddit (RDDT) shares soared 14% as the social-media platform not only outperformed first-quarter expectations but also provided an optimistic forecast in its inaugural earnings report as a public entity. Meanwhile, iRobot (IRBT) witnessed a 4% increase in its shares after announcing a narrower expected loss for the year and the appointment of a new CEO, hinting at a potential turnaround for the Roomba-maker.
However, not all news was positive. Rivian (RIVN) shares dipped 1.7% after the electric vehicle manufacturer reported a first-quarter adjusted loss wider than analysts had anticipated, casting shadows over its short-term financial health. ZoomInfo (ZI) faced a steeper decline, with shares plummeting 15% as its revenue and profit forecasts for the current quarter fell short of Wall Street expectations, raising concerns about its growth trajectory.
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