As stock futures proved to be a mix of good and bad omens on Thursday, concerns of
prosperity lingered in the air following underwhelming retail sales statistics,
casting an uncertain shadow on the U.S. economy’s deceleration.

Stay informed on today’s standouts in the stock market:

Top Performers on the Stock Market

The blank-check firm, Digital World Acquisition (NASDAQ:DWAC), exhibited remarkable fortitude, witnessing a 27% surge after bagging approval from the SEC for its merger with Trump Media & Technology Group. After enduring an arduous two-year quest to acquire Trump’s media company, the SPAC is poised to announce the special stockholder meeting imminently.

Furthermore, the travel stock Tripadvisor (NASDAQ:TRIP) rose by an impressive 7% following strong Q4 results that eclipsed market expectations on both the top and bottom lines. With adjusted EBITDA of $84M, equivalent to 22% of the revenue, the company exceeded forecasts, demonstrating a prudent approach to channel mix and marketing spend. Chief Financial Officer Mike Noonan remains resolute, “In 2024, we will continue to prioritize our segment strategies, focusing on long-term growth and profitability.”

Shake Shack’s (NYSE:SHAK) shares ascended a staggering 16% in response to the burger chain’s stellar Q4 performance. Exceeding anticipated revenue and same-store sales, with system-wide sales jumping by 21.4% for the quarter, the company’s Same-Shack sales surged by 2.8% from a year ago. Adjusted EBITDA also flourished at $31.4M, a substantial improvement from the $19.6M reported a year prior.

Super Micro Computer (NASDAQ:SMCI) witnessed its shares climbing over 6%, as Bank of America initiated coverage on the AI-focused server company. Projections suggest that the market for AI servers is set to grow at a striking 50% annually over the next three years, a notable contrast to the traditional server market growth rate of 5.5% over the past 17 years.

While SunPower (NASDAQ:SPWR) missed the consensus mark in Q4 earnings, the company’s stock saw an 18% spike after securing $175M in new capital financing from TotalEnergies and Global Infrastructure Partners. CEO Peter Faricy and CFO Beth Eby stressed the company’s focus on profitability and free cash flow, anticipating positive cash flow in the latter half of 2024 and beyond, despite grappling with industry challenges such as weak demand and consumer reluctance to invest in alternative energy.

Biggest Stock Underperformers

On the flip side, Cisco’s (NASDAQ:CSCO) shares plunged by 5% after the announcement of discouraging guidance that fell short of expectations and plans for company-wide layoffs. The company anticipates Q3 adjusted EPS between $0.84 and $0.86, below the consensus of $0.92, with a revenue projection significantly lower than expected. The revelation of company-wide terminations resulted in Cisco expecting to incur approximately $800M in related charges, primarily for severance and termination benefits.

Furthermore, shares of Twilio (NYSE:TWLO) nosedived by 13% following the company’s announcement of lower-than-expected revenue guidance for the current quarter. Twilio expects Q1 2024 revenue to fall short of the consensus estimate, with CEO Khozema Shipchandler’s assurance that the team remains steadfast in delivering on their customer engagement vision.

Blink Charging’s (NASDAQ:BLNK) shares retreated 7%, relinquishing the prior session’s 32% gain on the back of robust Q4 revenue projections that surpassed estimates. The electric vehicle charging network builder anticipated 4Q revenue to exceed $42 million, surpassing the consensus, while projecting 2023 revenue to exceed $140M, reinforcing the company’s growth trajectory bolstered by strong demand for its equipment and services.