The day traders’ favourite meme stock GameStop (GME) popped by over 7% in pre-market trading after a CNBC report that the video game retailer is considering investing in alternative assets such as bitcoin (BTC-USD) and other cryptocurrencies.
Citing unnamed sources, the report, published after Thursday’s market close, revealed that GameStop (GME) is exploring whether to allocate funds into crypto and other alternative investment options.
The news follows an intriguing development: GameStop (GME) CEO Ryan Cohen shared a photo of himself with Michael Saylor, co-founder of MicroStrategy (MSTR) and the largest corporate holder of bitcoin. However, CNBC clarified that Saylor is not currently involved in GameStop's discussions on crypto investments.
Once at the heart of the pandemic-era meme stock frenzy, GameStop's (GME) shares are down 16% year-to-date as of Thursday’s close. Nevertheless, the stock has experienced a remarkable 85% increase over the last 12 months, partially driven by social media influencers like "Roaring Kitty" (aka Keith Gill), who have sparked renewed interest among retail investors.
Stocks in the cybersecurity firm lost 5% in pre-market trading after issuing a disappointing earnings outlook for the current quarter.
The Santa Clara, California-based company revealed that it expects third-quarter adjusted earnings to fall between 76 and 77 cents per share, missing analysts’ expectations of 80 cents. This comes on the heels of second-quarter earnings that also underperformed market forecasts.
Looking ahead, the firm projected fiscal third-quarter adjusted earnings of $0.76 to $0.77 per share, slightly in line with analysts’ estimate of $0.76. Revenue for the period was forecasted to range between $2.26bn and $2.29bn, compared to the consensus estimate of $2.27bn.
For the full 2025 fiscal year, Palo Alto (PANW) revised its guidance significantly downward, now forecasting non-GAAP net income per diluted share between $3.18 and $3.24, on revenue ranging from $9.14bn to $9.19bn. This marks a sharp drop from prior projections of adjusted earnings per share between $6.26 and $6.39, with revenue expected to fall between $9.12bn and $9.17bn.
In recent years, the cybersecurity vendor has focused on expanding its all-in-one security platform, completing 21 acquisitions since 2014 in an effort to integrate new technologies into its enterprise offerings.
Stocks in the cryptocurrency exchange were in correction territory in pre-market trading after surging by nearly 9% in the previous session.
Coinbase's (COIN) total revenue for Q4 reached $2.27bn, marking an 88% increase from the previous quarter and surpassing the analyst consensus of $1.87bn.
Transaction revenue, which constitutes the bulk of Coinbase’s (COIN) earnings, surged 172% quarter-over-quarter to $1.6bn.
Meanwhile, subscription and services revenue grew 15%, reaching $641m, buoyed by the increase in crypto asset prices and growth in staking, custody, and USDC assets.
For the quarter, Coinbase (COIN) reported a net income of $1.3bn, which included $476m in pre-tax gains from its crypto asset investment portfolio.
"2024 was a strong year for crypto and for Coinbase (COIN) – our revenue more than doubled to $6.6bn, net income was $2.6bn, and we generated $3.3bn of adjusted Ebitda," said Coinbase CEO Brian Armstrong.
Shares in the homestay rental and experience platform surged 13% in pre-market trading following the company's fourth-quarter earnings report, which exceeded analyst expectations.
For Q4, Airbnb (ABNB) posted earnings per share of $0.73, well above the consensus estimate of $0.58. Revenue for the quarter reached $2.48bn, marking a 12% year-over-year increase and surpassing analysts' forecast of $2.42bn, according to Stocktwits data. The company attributed the strong revenue growth to an increase in nights stayed on the platform.
Looking ahead to the current quarter, Airbnb (ABNB) forecast sales of $2.25bn, slightly below analysts' expectations of $2.3bn for the March-ending period.
“Nights growth accelerated in Q4 compared to Q3—resulting in the highest-growth quarter of the year,” Airbnb (ABNB) stated in its letter to shareholders. “This momentum allowed us to end 2024 with over 491 million nights and experiences booked and nearly $82bn of [gross booking value] GBV.”
In 2024, Airbnb's (ABNB) revenue surpassed $11bn, driven by strong demand, a modest increase in average daily rates, and effective monetisation efforts, such as the expansion of guest travel insurance and the introduction of an additional service fee for cross-currency bookings.
The company reported 111 million nights and experiences booked in Q4, a 12% increase from the previous year, and above the 108.7 million expected by StreetAccount. Gross booking value (GBV), which includes host earnings, service fees, cleaning fees and taxes, totalled $17.6bn for the quarter.
Airbnb (ABNB) saw a "notable acceleration in the number of first-time bookers on our platform", the company said in its Q4 investor letter. "Globally, we saw an acceleration in growth across all regions, with Asia Pacific and Latin America again leading the way."
Haute couture fashion house Hermes (RMS.PA) posted a better-than-expected surge in fourth-quarter sales, highlighting continued strong demand for its exclusive products in a challenging luxury market.
The maker of the iconic Birkin handbag reported a 17.6% increase in revenues at constant exchange rates, reaching €3.96bn (£3.3bn/$4.15bn) for the three months ending December 31. This exceeded analysts’ forecasts of €3.69bn.
For the full year, Hermes (RMS.PA) saw sales rise by 14.7% at constant exchange rates, totalling €15.2bn, surpassing the anticipated €14.94bn.
Despite the strong performance, Hermes’ (RMS.PA) executive chairman, Axel Dumas, warned that the company could raise prices if US president Donald Trump follows through with plans for reciprocal tariffs. Dumas said the company is committed to maintaining production in France, Switzerland and Italy, where it manufactures its leather goods, watches and shoes.
“We do not adjust our industrial policy based on tariffs. When tariffs go up, we will increase our prices accordingly,” Dumas told journalists.
