February 23, 2024 11:58 AM |
2 min read
The Dow Jones index surged over 100 points on Friday, propelling U.S. stocks higher.
Carvana Co. (CVNA) witnessed a remarkable ascent during Friday’s trading session following the announcement of its fourth-quarter financial results.
Carvana reported fourth-quarter revenue of $2.424 billion, slightly below the consensus estimate of $2.528 billion, as per Benzinga Pro. The company disclosed a quarterly loss of $1 per share, missing analyst projections of an 88-cent loss per share.
Anticipating a modest increase in retail units sold in the first quarter compared to the previous year, Carvana also projects first-quarter adjusted EBITDA to exceed $100 million significantly.
The market responded with enthusiasm as Carvana shares surged by 31.1% to reach $68.69 by the session’s end.
In addition to Carvana, other notable stocks experienced substantial gains during the trading day:
- Maravai LifeSciences Holdings, Inc. (MRVI) soared by 57.8% to $8.06 after surpassing expectations in its fourth-quarter financial performance.
- ATN International, Inc. (ATNI) climbed 31.4% to $37.23.
- Nextdoor Holdings, Inc. (KIND) rose by 18.6% to $2.04 following the announcement of preliminary fourth-quarter results and the return of Nirav Tolia as CEO.
- Block, Inc. (SQ) jumped 16.8% to $79.36 on the back of better-than-expected fourth-quarter sales and favorable guidance.
- Docebo Inc. (DCBO) witnessed a 14.7% increase, closing at $52.60 post-upbeat quarterly results.
Furthermore, Comfort Systems USA, Inc. (FIX) advanced by 10.2% to $273.10 after exceeding expectations in its fourth-quarter performance.
In a market characterized by bullish sentiment, Friday’s trading session saw a multitude of companies, including Carvana, riding the wave of positive outcomes.
