Amgen and Airbnb Stocks Fall, Fortinet and Dynatrace Rise
- Amgen and Airbnb experienced declines in their stock prices.
- Conversely, stocks for Fortinet and Dynatrace saw an increase.
- This reflects distinctive market trends affecting these companies.
NEW YORK (AP) — On Wednesday, several stocks experienced notable fluctuations following the release of second-quarter financial results that disappointed investors. Novo Nordisk (NVO) saw a decline of $10.34, closing at $119.78, as its earnings fell short of Wall Street expectations. Similarly, Amgen Inc. (AMGN) dropped $16.91 to $312.04 after reporting earnings that did not meet analysts' forecasts. Airbnb Inc. (ABNB) also faced a setback, with shares down $16.85 to $113.62, as the company’s revenue forecast for the current quarter failed to align with market predictions. Super Micro Computer Inc. (SMCI) experienced a significant drop of $100.01, closing at $516.93, after its fiscal fourth-quarter results disappointed analysts. In contrast, Fortinet Inc. (FTNT) saw a positive turn, rising $14.58 to $70.39 after the network security firm raised its earnings forecast for the year. Trex Co. (TREX) reported a decline of $15.54 to $61.02, as it adjusted its revenue forecast downward. On a brighter note, Cirrus Logic Inc. (CRUS) gained $10.54, closing at $125.85, with a revenue forecast that exceeded Wall Street expectations. Dynatrace Inc. (DT) also reported a positive outcome, rising $5.91 to $46.41 after beating analysts’ fiscal first-quarter earnings forecasts.