Block stock pops, Carnival Cruise Line misses on earnings, Facebook users reportedly leave platform

Yahoo Finance Live examine several of the day's trending stock tickers.

Video Transcript

RACHELLE AKUFFO: Now my pick is the ticker symbol SQ, also known as Block, formerly known as Square. Now we did see it rising in early trading Tuesday, and it continued that rally. It's currently up over 6%. As we see there, just over 6% heading towards 7%. And this came off of some news in intraday after Mizuho Americas raised its price objective from the stock to $190 from $180. That was analyst Dan Dolev.

And he was citing this growing traction that we're seeing for its payment processing firm Cash App being used more among teens. So it's not too many times you'll see teenagers pushing up a stock price. But this is an interesting one to watch. As we do see more fintech, we did see a couple of fintech stocks also rising today, so perhaps that also has to do with how teens are using money these days.

BRAD SMITH: Yeah, the critical thing to remember about Square is just, or Block, the company formerly known as Square, and going through the entire re-brand and revamp, is that they are still just about what, 40% off of some of their most recent highs that they had seen in the third quarter of last year, in third and fourth quarter of last year. And so with that, still have a lot of ground to make back up.

However, if there's one thing that you do hang your hat on, it is that new generation of spenders and really gleaning the insights on what their habits are, what some of those trends are and how they would engage with not just peer to peer transactions, but also we continue to think about the number of point of sale transactions that Square, Block is engaged with for so many merchants.

And so that is exactly where you could see more of that inclination from the next generation of spenders really leaning into some of the existing investments that a company in Block has already made. And we didn't even talk about crypto, because at the end of the day, that too, is still one of the emerging spaces that they're going to see even more of that fanfare from the younger and newer generation of the financial savvy and the spending economy out there.

But I also got to talk about this other company that has been battered, bruised, and unfortunately, not cruised as much as they would have hoped. But at this point, taking a look at Carnival. They provided this business update. And I think on the day, continuing to track shares of CCL here, it's in firm reaction to this. And there you're taking a look at some of the updates that they've provided.

Revenue of $1.62 billion. And then additionally, EPS coming in even worse than expected on the loss side. And so with all that in consideration for the cruise segments, they did see revenue per passenger cruise day, this is that PCD metric. For the first quarter of 2022, that increased approximately 7 and 1/2%. That was compared to the 2019 metrics. And so that is really what's going to be in focus here in trying to ensure that they can beat some of those 2019 comps at this point in time, when they're starting so many of those re-engagement campaigns to get people back on cruise lines.

DAVE BRIGGS: All right, quickly, my play is FB Facebook Meta platforms Inc., because on "BuzzFeed's" Tuesday earnings call, CEO Jonah Peretti said, quote, "We continue to see audiences spending less time on Facebook." This, of course, after the company for the first time ever revealed they had declined in quarterly active users. Again, that was the first time ever. Nonetheless, the stock up almost $6 a share as the tech heavy NASDAQ has a great day. FB Facebook having a pleasant day up almost $6 bucks, guys.