Midday movers: PepsiCo and Pinterest fall, Cloudflare soars

investing.com:

(Updated — February 9, 2024 11:23 AM EST)

Investing.com — Main U.S. indexes were mixed on Friday, with strength in the tech heavy Nasdaq and the S&P 500 but weakness in the Dow. Downward revisions to official 2023 inflation figures supported equities ahead of the release of the highly anticipated January CPI report next week.

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

PepsiCo (NASDAQ:PEP) declined 3% after it unveiled a full-year forecast for organic revenue growth of at least 4%, below Bloomberg consensus expectations of 5.2%, as the food and beverage group flagged waning benefits from elevated prices. However, fourth-quarter core per-share earnings beat estimates.

Shares in Pinterest (NYSE:PINS) tumbled 11% on Friday after the social media company missed fourth-quarter revenue expectations and issued soft guidance for the March quarter.

Cloudflare (NYSE:NET) shares spiked 23% on Friday after the internet firm unveiled first-quarter income and revenue guidance that topped Wall Street expectations.

Take-Two (NASDAQ:TTWO) declined 8% after it cut its annual bookings guidance, citing projected softness for titles like «NBA 2K24» and a planned release moving out of its fiscal fourth quarter.

Expedia (NASDAQ:EXPE) shares fell 18% after the online travel agency warned that slipping air ticket prices would dent revenue in 2024. The group also announced that Chief Executive Peter Kern would be stepping down. Peers Airbnb Inc. (ABNB) and Booking Holdings (NASDAQ:BKNG) also declined.

Shares in U.S. crypto exchange Coinbase (NASDAQ:COIN) Global, as well as crypto miners Marathon Digital (NASDAQ:MARA) and Riot Platforms (NASDAQ:RIOT), jumped after the price of Bitcoin surpassed $47,000. The digital token was trading at