Hasbro and Avis slip; Ecolab rises By Investing.com

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(Updated – February 13, 2024 11:19 AM EST)

Investing.com — Main U.S. indexes slumped Tuesday after hot inflation data dashed hopes the Fed would begin cutting rates in the first quarter of 2024.

Here are some of the biggest U.S. stock movers today:

Coca-Cola (NYSE:) declined 1% after it said it expects to deliver full-year adjusted organic revenue growth of 6% to 7%. The guidance was just ahead of Bloomberg consensus predictions of 5.9% but slower than the pace registered in 2023.

Biogen (NASDAQ:) declined 6% after the company reported lower-than-anticipated profit and revenue in its latest quarter.

Hasbro’s (NASDAQ:) stock price tumbled 7% after the company missed consensus estimates on top and bottom lines for its fiscal fourth quarter.

Arista Networks (NYSE:) fell 4.5% after the networking equipment company unveiled a first-quarter margin outlook that missed analysts’ expectations.

Datadog (NASDAQ:) declined 2.8% following a weaker-than-anticipated annual forecast from the cloud software group.

JetBlue (JBLU) shares popped 14% after activist investor Carl Icahn announced that he had taken a 9.91% stake in the airline and said he had spoken with the company’s management about potentially gaining representation on the board.

Ecolab (NYSE:) stock rose 8% after its forecast for first quarter earnings per share beat estimates. Management said they expect another strong year.

Moody’s Corp. (NYSE:) fell 6% after earnings per share missed estimates due to lower than expected operating margin.

Marriott (MAR) stock declined 5.75% after reporting revenue that trailed estimates in the fourth quarter and issuing guidance that was viewed as a disappointment.

ZoomInfo Technologies (ZI) rose 12% after the infrastructure software firm reported fourth quarter results that topped Wall Street expectations, along with solid guidance for the first quarter and full year. Expectations were low heading into the print.

Avis Budget Group (NASDAQ:) declined 19% after the rental car company reported revenue that misses estimates in the last quarter of 2023.

Zoetis Inc . (NYSE:) declined 4% after it reported worse-than-expected earnings for the fourth quarter. It also issued full year EPS guidance that misses expectations.

WESCO International (WCC) declined 23% after reporting earnings per share and revenue that were significantly below consensus expectations. The stock was quickly downgraded by analysts.

Additional reporting by Louis Juricic

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