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Carvana’s Fourth-Quarter Surge and Other Big Stocks on the Move

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Carvana’s Fourth-Quarter Surge and Other Big Stocks on the Move

U.S. equities were generally up, with the Dow Jones Industrial Average climbing more than 100 points on Friday.

Carvana Co. (CVNA) saw a significant uptick in its shares during Friday’s session after unveiling its fourth-quarter financial results. The company reported a quarterly revenue of $2.424 billion, just below the estimated $2.528 billion. In terms of earnings per share, Carvana posted a loss of $1, missing analysts’ predictions of an 88-cent loss.

Looking forward, Carvana expects a slight increase in retail units sold in the first quarter compared to the previous year. The company is also optimistic about its adjusted EBITDA for Q1, forecasting figures significantly exceeding $100 million.

On Friday, Carvana shares soared by 31.1% to settle at $68.69.

Joining Carvana in the spotlight, other major stocks showed impressive gains in the current session.

  • Maravai LifeSciences Holdings, Inc. (MRVI) gained 57.8% to reach $8.06 after surpassing expectations in its fourth-quarter financial report.
  • ATN International, Inc. (ATNI) rose by 31.4% to $37.23.
  • Nextdoor Holdings, Inc. (KIND) experienced an 18.6% increase, closing at $2.04, following positive fourth-quarter financial results.
  • Block, Inc. (SQ) climbed 16.8% to $79.36 after reporting robust Q4 sales figures and providing forward-looking guidance.
  • Docebo Inc. (DCBO) jumped by 14.7% to hit $52.60 after reporting encouraging quarterly results.
  • Universal Insurance Holdings, Inc. (UVE) witnessed a 12.7% climb to $19.42 post strong quarterly results.
  • Gyre Therapeutics, Inc. (GYRE) surged by 12.1% to $17.93 following an announcement of Supermicro’s proposed offering of $1.5 billion of convertible senior notes due 2029.
  • Tandem Diabetes Care, Inc. (TNDM) showed a 12.1% leap, closing at $28.02 amid market fluctuations post its fourth-quarter financial disclosure.
  • Akero Therapeutics, Inc. (AKRO) marked an 11% climb to $26.86.
  • Vir Biotechnology, Inc. (VIR) concluded 10.3% higher at $11.36 after robust sales results.
  • Ventyx Biosciences, Inc. (VTYX) rose by 10.6% to $6.39.
  • LegalZoom.com, Inc. (LZ) surged 10.5% to $10.87 after surpassing expectations in its Q4 financial results and issuing revenue guidance for FY24.
  • Comfort Systems USA, Inc. (FIX) climbed 10.2% to $273.10 after exceeding Q4 expectations.
  • Hyatt Hotels Corporation (H) saw an 8.9% increase to $147.66 post better-than-expected Q4 sales and forward guidance disclosure.
  • RB Global, Inc. (RBA) experienced an 8.2% gain, closing at $73.98 after surpassing anticipated Q4 adjusted EPS figures and providing guidance.

In other news: Dow Surges Over 150 Points; AerCap Posts Upbeat Earnings