Market Movers of the Week: Diamondback Soars 17%, Uber Hits ATH on Buybacks

investing.com:

While major indexes like the Nasdaq and S&P 500 have seen a relatively stagnant performance this week, several individual stocks have bucked the trend, achieving significant gains.

This article will analyze four notable performers:

We'll explore the recent news and events that may have contributed to their success, as well as delve into their financial health and potential risks.

Diamondback Energy recently announced a 7% increase in its base dividend to $3.60 per share per year, starting in Q4 2023.

Additionally, it entered a definitive merger agreement valued at around $26 billion with Endeavor Energy Resources, expected to close in Q4 2024.

In the last session, Uber led the S&P 500 with a 14% increase, reaching new all-time highs, following a $7 billion share buyback plan announcement. Morgan Stanley, among others, raised the target price to $90.

Airbnb reported positive Q4 2023 earnings, indicating robust overall travel demand, with a modest increase in gross booking value (GBV) and revenue. The quarter saw a strong rise in EBITDA attributed to effective expense management.

Leonardo also exhibited strong performance, expressing confirmed interest in Iveco's defense vehicle unit.

Additionally, it signed an MoU with Saudi Arabia's Ministry of Investment and the General Authority for Military Industry to evaluate investments and collaborations in the aerospace and defense sector.

Let's take a look at InvestingPro's Fair Values for each stock, based on several recognized financial models tailored to the specific characteristics of the companies to understand where they stand from a fundamental perspective right now:

For Diamondback Energy, InvestingPro's Fair Value, which summarizes 15 investment models, stands at