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Today's Biggest Trades: U, EPAM, CPAY, ABNB, SEDG, ARRY
Roblox (RBLX) created a negative downtrend for gaming stocks on Thursday. Unity Software (U) will follow by falling today. The firm posted a -$0.75 EPS on revenue of $460.38 million (-8.0% Y/Y). Most of the losses are a result of restructuring charges.
Investors are hopeful that a new CEO from EA (EA), who led the Zynga division, to turn Unity around.
EPAM Systems (EPAM) shares might rebound today after falling by 26.99% to $183.93. It earned $2.46 a share (non-GAAP). However, it expects a full-year 2024 EPS of $7.34 - $7.64 (GAAP). Q1 results suffered from program delays. Fortunately, EPAM is not losing customers.
Corpay (CPAY) may recover from the -6.99% drop from yesterday. The firm posted a net income of $3.12 a share, up by 8% Y/Y. Investors are likely worried about its acquisition of Paymerang, an accounts payables automation solutions provider. This adds uncertainties to its operations.
Airbnb (ABNB) continued to deflate, down by 6.87%. Despite consumers spending heavily on vacations, investors expected more. The firm has a strong moat and platform, creating a good entry point for investors.
SolarEdge (SEDG) continued to struggle. After dropping by 8.48%, the stock is not a buy. It did not manage inventory levels well. Instead, consider Array Technologies (ARRY). Array reaffirmed its FY 2024 guidance of EPS in the range of $1.00 to $1.15.
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