AppLovin, Penn Entertainment, Ford: Trending Tickers
AppLovin (APP) shares are climbing Thursday after the mobile app advertising company posted strong fourth-quarter earnings results and issued an upbeat 2024 outlook, fueled by holiday ad demand.
Penn Entertainment (PENN) stock is declining following a fourth-quarter revenue miss reported by the gaming and sports betting company.
Ford (F) CEO Jim Farley explains the company's growth strategy and the need to price new EVs higher due to production costs.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Angel Smith
Video Transcript
BRAD SMITH: Stocks ticking higher this morning, striving to mount a further rebound as investors digest the latest retail sales number, showing a slowdown in spending falling 8/10 of a percent in January from the month prior, according to the Census Bureau data.
RACHELLE AKUFFO: Indeed. Also taking a look at some individual trending tickers shares of AppLovin surging after blowing past expectations in its fourth quarter and issuing a strong outlook. The company had a strong holiday season with major growth in its mobile app advertising market and bidding enhancements pushed profits higher.
BRAD SMITH: We're also watching Penn Entertainment shares they are falling as they reported a revenue miss for the fourth quarter, down 12% in the last year. A Jefferies analyst saying the losses are likely due to the Casino operators investment in ESPN Bet, which, quote, "has negatively impacted overall company performance."
RACHELLE AKUFFO: That's right. Also watching Ford shares rising this morning as its CEO, Jim Farley, and CFO, John Lawler, discuss its Ford Plus growth plan at Wolfe Research conference this morning. Farley saying that the build cost of the F-150 Lightning EV is, quote, "too expensive," that the company has to sell EVs just three to $5,000 above gas car prices.
