24H|SMCI And Snap Tumbled Over 14%; Booking Shed 3%; Grab Rose 2%; HIMS Kept Rally

Tiger Newspress
12 hours ago

Super Micro Computer Inc. tumbled over 14% in overnight trading after giving preliminary results that fell well short of analysts’ estimates, a sign its comeback plan has been slow to gain traction.

Grab Holdings Ltd. raised its full-year earnings forecast after quarterly sales beat estimates, a sign that the Southeast Asian ride-hailing and food-delivery market might be a bright spot in a tech industry rattled by global trade tensions. Shares rose 2% in overnight trading.

Snap Inc. narrowly beat analysts’ estimates for first-quarter revenue but declined to issue a sales forecast for the current period, saying it’s navigating macroeconomic “headwinds” for its advertising business.

While sales continue to grow in the second quarter, Snap said economic volatility “may impact advertising demand more broadly,” contributing to its decision to withhold sales projections. Shares fell 14% in overnight trading.

Hims & Hers kept gaining in overnight trading after surging 23% on Tuesday. Novo Nordisk said on Tuesday it was partnering with telehealth firms Hims & Hers, Ro and LifeMD to sell branded versions of Wegovy, ahead of potential restrictions on selling compounded versions of the obesity drug.

Booking Holdings shed 3% in overnight trading. Gross bookings for the first quarter came in at $46.7 billion, only narrowly topping the $46.53 billion StreetAccount consensus estimate. Booking Holdings’ top- and bottom-line results for the period firmly beat expectations, however.

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