On this edition of Stock Movers:
- Duolingo (DUOL) shares rose today after the company lifted its earnings forecast for the year and said it had acquired a music-gaming startup to help speed up the broadening of its offerings beyond language-learning games. The company now expects full-year revenue of $1.01 billion to $1.02 billion, up from $987 million to $996 million it previously expected, a revision it attributed to the better-than-expected performance of its subscription tiers in the second quarter. Duolingo shares, which have risen around 6% this year through the market close Wednesday, were 11% higher in post-market trade.
- DoorDash (DASH) shares jumped today after the largest food delivery service in the US, issued an outlook for orders in the third quarter that surpassed Wall Street’s expectations, a sign that demand for its services remains resilient despite broader concerns about consumer spending. The company sees gross order value for the three months ending September in the range of $24.2 billion to $24.7 billion, exceeding the average Bloomberg-compiled estimate of $23.8 billion. The forecast was accompanied by better-than-expected second-quarter results, which the company attributed to a growing number of active customers and increased engagement.
- Walt Disney Co. (DIS) shares slid after the company disappointed Wall Street with a tepid full-year profit forecast, weighed down by its struggling movie and TV businesses. Earnings should increase 18% to $5.85 share in fiscal 2025, excluding some costs, the company said Wednesday. That outlook was less than some analysts had been expecting and put a damper on a mostly positive third-quarter report that showed strength in theme parks and streaming, two growth businesses. Overall revenue increased 2.1% to $23.7 billion in the three months ended June 28, Disney said, in line with analysts’ projections. Earnings rose to $1.61 a share, excluding some items, beating the $1.46 average analyst’s estimate, according to data compiled by Bloomberg. The shares slid 2.10% to $115.85 Wednesday afternoon in New York. They are up 4% this year.
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