In This Article:
Bloomberg / Getty Images
Supermicro CEO Charles Liang speaks at the Computex conference on June 5, 2024Key Takeaways
-
The S&P 500 ticked lower by less than 0.1% on Friday, Feb. 14, as retail sales data revealed a retreat in consumer spending during January.
-
Airbnb stock soared after the vacation rental provider beat quarterly estimates, highlighting its ambition to become a comprehensive destination for travel and living needs.
-
Website domain provider GoDaddy posted lower-than-expected fourth-quarter profits, and its shares dropped.
Major U.S. equities indexes were mixed to wrap up a week of trading that spotlighted inflation updates and evolving trade policies.
Retail sales data released on Friday showed a wider-than-expected drop in consumer spending in January, suggesting that consumers may have been more reluctant to splurge following a hot holiday spending season.
The S&P 500 closed with a minimal loss of less than 0.1%, while the Dow slipped 0.4%. Resilience among tech stocks helped the Nasdaq notch a gain of 0.4%. Despite Friday's mixed action, all three major market gauges posted weekly gains.
Airbnb (ABNB) was the top-performing stock in the S&P 500 on Friday, popping 14.5% higher after the vacation rental platform topped expectations for fourth-quarter profits, bookings, and gross booking value. CEO Brian Chesky suggested that the company intends to develop the Airbnb app into a one-stop shop for travel needs.
Shares of server provider Super Micro Computer (SMCI) wrapped up a week of significant gains with a surge of 13.3%. In addition to the upbeat fiscal 2026 revenue outlook provided by Supermicro earlier this week, the company received a boost from reports on Friday that Facebook parent Meta Platforms (META) plans to make a large investment in humanoid robots. The robots would likely operate on cloud-based artificial intelligence (AI) technology, and Meta uses Supermicro's servers in its data centers. Supermicro faces a deadline on Feb. 25 for the filing of its delayed annual report.
Fourth-quarter results from Wynn Resorts (WYNN) blew past sales and profit estimates, and shares of the hotel and casino operator jumped 10.4%. Highlights of the quarter included strong performance from the company's Wynn Palace property in Macau as well as its Las Vegas operations. The company also highlighted construction progress on its integrated resort in the United Arab Emirates, which is on track to open in March 2027.
GoDaddy (GDDY) shares tumbled 14.3%, suffering the steepest drop in the S&P 500, after the website domain company posted mixed results for the fourth quarter. Although revenue for the period edged out estimates, earnings per share (EPS) fell short of forecasts. Analysts at Cantor Fitzgerald noted GoDaddy's progress on product initiatives, including AI-driven marketing and design tools, but they reduced their price target on the stock, citing valuation concerns.