Sweetgreen, Intel, Akamai Technologies, and More
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Key Takeaways
- The Dow, S&P 500, and Nasdaq were little changed at midday Friday, heading to the close of a volatile week for markets that began with a global sell-off.
- Sweetgreen shares soared after the salad restaurant chain cut its losses, exceeded revenue forecasts, and raised its guidance as it added locations.
- Intel shares dropped as the chipmaker reportedly canceled an event scheduled for September after reporting wider-than-expected losses and announcing layoffs.
The Dow, S&P 500, and Nasdaq were little changed at midday Friday, heading to the close of a volatile week for markets that began with a global sell-off.
Akamai Technologies (AKAM) was the best-performing stock in the S&P 500 after the tech firm beat profit and sales estimates and raised its earnings guidance as it saw higher demand for its security and cloud computing offerings.
Shares of Take-Two Interactive Software (TTWO) gained after the video game maker also posted better-than-expected results and gave an upbeat outlook as net bookings rose.
Sweetgreen (SG) shares soared after the salad restaurant chain cut its losses, exceeded revenue forecasts, and raised its guidance as it added locations.
Intel (INTC) shares dropped as the chipmaker reportedly canceled an event scheduled for September after reporting wider-than-expected losses and announcing layoffs.
Shares of Insulet (PODD) slumped as the manufacturer of the Omnipod insulin delivery system missed earnings estimates amid concerns about the number of new products reaching the market.
Mondelez International (MDLZ) shares dropped as the snack food maker missed revenue estimates as consumers turned to lower-priced brands.
Oil and gold futures advanced. The yield on the 10-year Treasury note fell. The U.S. dollar lost ground to the euro, pound, and yen. Prices for most major cryptocurrencies were higher.
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