Unveiling Highs and Lows in Stock Movements

Stock futures edged higher Friday morning, after a strong rally in the S&P 500 the previous day. Investor concerns about a potential recession were eased by unexpectedly low jobless claims.

Here are some of Friday’s biggest stock movers:

Highlighting the Winners

• Shares of Paramount Global (NASDAQ:PARA) (NASDAQ:PARAA) rose over 5% after a mixed Q2 performance. Despite missing revenue and subscriber growth targets due to a sharp decline in its TV media division, the company surpassed profit expectations. Additionally, Paramount announced a cost-cutting initiative that includes laying off approximately 15% of its U.S. workforce.
• Trade Desk (NASDAQ:TTD) shares soared 6% after a strong Q2 and a promising outlook. The company reported a 26% year-over-year revenue increase, propelled by robust demand in the ad market for its services. Moving into Q3, TTD forecasts revenue of at least $618M and around $248M in adjusted EBITDA, both surpassing analyst predictions.
• Expedia (NASDAQ:EXPE) shares surged over 11% after exceeding the consensus in Q2 results, with Room Nights growth accelerating to +10% and Brand Expedia achieving nearly 20% growth, the fastest rate since the first quarter of 2023. Total gross bookings climbed 6% year-over-year to $28.8B, driven by an 8% increase in lodging bookings and an 11% rise in hotel bookings.

Addressing the Losers

• Despite better-than-expected FQ1 financials, E.l.f. Beauty (NYSE:ELF) saw a 10% decline in shares as its raised FY2025 earnings outlook fell short of expectations. The company revised its FY25 sales forecast to be within a range of $1.28B to $1.3B from the initial guidance of $1.23B to $1.25B, aligning with the consensus of $1.30B. Adjusted EPS is now projected at $3.36 to $3.41 per share, up from $3.20 to $3.25 per share, but below the consensus estimate of $3.42 per share. Adjusted EBITDA guidance was increased to $297M to $301M from the previous range of $285M-$289M.