Shares of neighborhood social network Nextdoor (NYSE:KIND) jumped 3.5% in the morning session after the company announced the most consequential redesign of its core product to date, aimed at making the platform more useful and timely for users. The revamped neighborhood network will now focus on three key areas: "Alerts," "News," and "Faves."
Shares of heavy equipment distributor Custom Truck One Source (NYSE:CTOS) jumped 11.7% in the afternoon session after an upgrade from Wall Street firm Stifel, which boosted its rating on the stock to Buy from Hold and raised its price target.
Shares of furniture company La-Z-Boy (NYSE:LZB)
fell 3.2% in the afternoon session after the company warned that its first-quarter results would likely be at the low end of its prior guidance.
Shares of technology real estate company Opendoor (NASDAQ:OPEN)
jumped 16.4% in the afternoon session after the iBuyer announced the launch of its new Key Agent™ app, designed to streamline the home assessment process for real estate agents. The new application aims to make home assessments faster and more accurate for the company's agent partners by providing room-by-room guidance and offline capabilities. An iBuyer, or "instant buyer," is a company that uses technology to make quick cash offers on homes. More strategically, Opendoor stated that the enhanced data collected through the app will provide a "critical foundation for the future" of its valuation technology. The company plans to use the high-quality, structured data to fine-tune its home valuation models and repair-estimation algorithms. Investors are reacting positively to the news, as more precise data could lead to more competitive and accurate offers for sellers, a crucial factor for improving profitability and market share in the iBuying space.
Shares of burger restaurant chain Red Robin (NASDAQ:RRGB)
jumped 9.5% in the afternoon session after the casual dining chain announced its "First Choice" strategic plan and an improved profitability forecast for the second quarter. The company unveiled its new "First Choice" plan, a five-point strategy focused on strengthening operations, driving customer traffic, managing costs to reduce debt, improving restaurant facilities, and fostering a high-performance culture. While Red Robin now expects a comparable restaurant sales decrease of about 4% for the second quarter, slightly worse than its previous forecast, it anticipates that its Adjusted EBITDA will come in higher than the prior guidance of $13 million to $16 million. EBITDA, which stands for Earnings Before Interest, Taxes, Depreciation, and Amortization, is a key measure of a company's operating performance.
Shares of digital infrastructure provider Applied Digital (NASDAQ:APLD) jumped 5.4% in the afternoon session on continued investor optimism surrounding its strategic pivot to building high-performance computing (HPC) data centers for the artificial intelligence (AI) industry. The company, which is transitioning its business model to focus on the surging demand for AI infrastructure, is benefiting from a positive outlook from investors and analysts. While no specific news was released today, the move reflects ongoing confidence in Applied Digital's strategy to build out large-scale data centers tailored for AI and HPC workloads.
Palantir stock nears $150 on AI optimism and analyst upgrades, but its 120x sales valuation raises concerns of a pullback despite record revenue growth
In the ever-evolving world of data analytics and artificial intelligence, few companies have achieved the level of mystique—and results—enjoyed by Palantir Technologies. What started as a government-focused data company has now transformed into a powerhouse driving digital transformation across industries. But what exactly are Palantir's core services, and
As the Q1 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the consumer internet industry, including Expedia (NASDAQ:EXPE) and its peers.
