Stock Movers: Expedia Soars, Block Dips, Sweetgreen Plummets on Earnings

Market Performance Overview

• 📈 The S&P 500 saw a late rally, with 389 names gaining ground by the close of US trading on Friday.
• ⚡ The energy sector led gains, buoyed by rising oil prices and a potential end to the US government shutdown.

Expedia's Strong Outlook

• ✈️ Expedia was the top gainer in the S&P 500, rising approximately 17.5% after raising its full-year gross bookings and revenue outlook.
• 📊 The company now expects revenue to increase 6.5% and gross bookings to grow 7%, both exceeding previous guidance and analyst estimates.
• ⚠️ The outlook does not yet account for the US government shutdown, with no impact observed so far.

Block's Revenue Shortfall

• fintech Block (formerly Square) shares fell 7.7% despite raising its full-year profit forecast and showing strong growth in consumer banking.
• 📉 The company's third-quarter revenues of $6.11 billion fell short of the $6.34 billion consensus estimate.
• 👥 Block added 300,000 new primary banking users, and Cash App monthly active users rose to 58 million.

Sweetgreen's Struggles

• 🍟 Sweetgreen shares hit a record low, down 7.5%, after cutting its full-year revenue guidance and missing analyst estimates.
• ⚠️ The company removed its "Ripple fries" after only five months due to complexity in preparation and low customer interest at a $4.95 price point.

Economic Indicators and Other News

• 📦 A slump in cardboard box sales, hitting the lowest third-quarter reading since 2015, is stoking fears of a weak holiday retail shopping season.
• ⚖️ The President ordered an investigation into meat packing companies for alleged illicit collusion and price fixing, impacting shares of companies like JBS.
• 📊 Treasury yields showed volatility, with significant issuance expected the following week.
• 🇮🇱 S&P revised Israel's outlook to stable from negative, causing the Israeli shekel to strengthen against the dollar.