US markets tumbled; DoorDash jumped 10.7% on Q4 results; Tripadvisor fell 2.5% on Q4 results
- The Nasdaq fell 2.88% on Thursday to close at 13,717 points.
- DoorDash jumped 10.7% on Q4 results including record order numbers.
- Tripadvisor fell 2.5% on Q4 results including an unexpected loss.
The US markets tumbled on Thursday as investors sold out of stocks following increasing geopolitical tensions between Russia and western allies of Ukraine as the White House warned Russia is on the verge of invading Ukraine.
The Dow Jones fell 1.78% to finish the trading day down 622 points to close at 34,312 points.
The tech heavy NASDAQ fell 2.88% to finish the trading day down 407 points to close at 13,717 points.
One bitcoin is worth US$40,686 going into the Asian trading day.
The Australian dollar is stronger against the major currencies and is buying 71.86 US cents.
Food delivery company DoorDash jumped 10.7% on Thursday after releasing fourth-quarter results that beat expectations on the top line. For the quarter, DoorDash reported revenue of US$1.3bn, had an increase of 35% YoY on orders to a record 369m and gross order value grew 36% YoY to US$11.2bn. DoorDash also posted a US$0.45/share loss, wider than the expected loss of US$0.25/share.
Shares in Tripadvisor fell 2.5% on Thursday after also posting fourth-quarter earnings results. For the quarter, Tripadvisor reported an unexpected quarterly loss of US$29m and revenue of US$241m which fell short of analysts’ estimates. Tripadvisor said it expects the travel market to improve significantly in 2022 following ‘unexpected periods of virus resurgence in 2021’.
And Ford’s Mustang Mach-E electric vehicle has been named as Consumer Reports’ top EV pick of 2022, pushing Tesla’s Model 3 off top spot.
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