U.S. Stocks to Watch: Opendoor, Nvidia, Grail, Newmont, AppLovin, Akamai, and More

Dow Jones
02/20

US stock futures were pointing to gains Friday as investors shrugged off higher oil prices and looked ahead to key U.S. inflation data.

These stocks were making moves in the premarket session:

Opendoor Technologies was rising 15%. The online homebuying platform reported a quarterly loss of $1.26 a share on revenue of $736 million. The revenue figure was well ahead of FactSet estimates of $594 million. Opendoor said that for the current quarter it expects a decrease of approximately 10% in revenue quarter over quarter and it was driving for its adjusted net income to become positive by the end of 2026.

Grail tumbled 47% after the healthcare company said Galleri, its multi-cancer early detection test, failed to meet the primary endpoint of a recent trial. While it didn’t meet the target of a statistically significant reduction in Stage III and Stage IV cancer, the trial showed a favorable trend toward fewer Stage III and Stage IV cancers in a prespecified group of 12 deadly cancers in the intervention arm after a prevalent screening round, the company said.

Newmont was down 3.4% after the gold minerreported earnings. Its adjusted per-share earnings were $2.52, ahead of the $2.05 anticipated by analysts, according to FactSet. Revenue rose 21% to $6.82 billion, ahead of analysts’ forecasts of $6.19 billion. The average realized gold price was $4,216 in the fourth quarter, up 60% from the previous year. The stock had climbed 26% this year through the close of trading Thursday.

Nvidia shares were gaining 0.4%. The chip maker intends to invest $30 billion in ChatGPT-developer OpenAI’s latest funding round, according to multiple reports. That would replace a previously announced plan for Nvidia to investup to $100 billionin OpenAI, according to the Financial Times. Nvidia didn’t immediately respond to a request for comment fromBarron’s.

Akamai Technologies was down 8.8% on the back of earnings from the cloud-services company. Akamai’s adjusted per-share earnings were $1.84, ahead of the $1.76 anticipated by analysts, according to FactSet. Revenue rose 7% to $1.09 billion. The company expects current-quarter revenue of $1.06 billion to $1.09 billion with adjusted earnings per share of $1.50 to $1.67.

AppLovin shares were rising 7.1%. The advertising platform intends to build its own social-networking platform, according to comments made by an executive in a podcast interview and a job posting on its website.

Copart was falling 6.2% after the operator of online vehicle auctions posted earnings and revenue that missed expectations. It reported a net income of $350.7 million, or 36 cents a share, missing the $382.5 million in net income Wall Street expected, according to FactSet. Revenue grew 3.6% to $1.12 billion, which was below the $1.15 billion forecast of analysts polled by FactSet.

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