Stock Movers Expedia Falls, Microchip Rises, Crowdstrike drops on News of US Probe
May 9, 2025
Expedia takes a hit as it lowers its revenue outlook, revealing disappointing domestic and Canadian travel demand. Meanwhile, Microchip's stock enjoys a boost after better-than-expected earnings results, signaling a potential turnaround in the chip industry. On the darker side, CrowdStrike faces scrutiny as U.S. prosecutors investigate a questionable deal tied to the IRS, causing a significant stock drop. The contrast in these performances highlights the ups and downs of the current market landscape.
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Microchip Hits Industry Bottom
- Microchip shares rose over 13% due to better-than-expected 4Q earnings results.
- The company believes the fourth quarter marks the bottom of the chip industry's down cycle.
Expedia Cuts Travel Outlook
- Expedia cut its full-year guidance citing weaker than expected US domestic and inbound travel.
- A near 30% drop in Canadian inbound bookings caused a 7% decline in overall US inbound travel bookings.
Kentucky Derby Cost Anecdote
- Planning to attend the Kentucky Derby revealed the high cost of attendance without airfare.
- The cheapest option to get in the door was about four thousand dollars per person for three days.