Stock Movers: Expedia Falls, Microchip Rises, Crowdstrike Investigated

Microchip's Performance and Outlook

• 📈 Microchip is up over 13%, extending gains from the open following its fourth-quarter results.
• 💡 Adjusted EPS beat estimates at 11 cents versus 10 cents, and net sales were slightly above forecasts, though down 27% year-over-year.
• 🚀 The company stated that the fourth quarter "marks the bottom of this prolonged industry down cycle," with analysts expecting an entry into a restocking cycle.

Expedia's Travel Outlook Concerns

• 📉 Expedia is down over 7%, after cutting its full-year outlook for gross bookings and revenue.
• ⚠️ The company cited weaker-than-expected domestic and inbound travel demand in the US.
• ✈️ A significant factor was a near 30% decline in inbound bookings from Canada, contributing to a 7% drop in overall inbound travel to the US.
• 📊 Comparable companies Booking and Airbnb also issued weaker-than-expected second-quarter guidance, despite topping first-quarter estimates.

Crowdstrike Under Investigation

• 🔎 Crowdstrike shares are down more than 2% following a Bloomberg News report.
• ⚠️ US prosecutors and regulators are investigating a $32 million deal between Crowdstrike and a tech distributor.
• 📧 The transaction was intended to supply software to the IRS, but the IRS reportedly never purchased or received the products.
• 🕵️ Investigators are questioning former employees and have obtained internal Crowdstrike records regarding the deal.