Stocks to Watch: Arm Holdings, Applovin, Topgolf Callaway
November 08 2023 - 7:18PM
Dow Jones News
By Ben Glickman
Arm Holdings reported a wider-than-expected loss in the fiscal
second quarter, despite posting record sales. The chip designer
warned that the industry was vulnerable to changes in the economy
and the trajectory of the recovery in the semiconductor industry
was not clear. Shares drop 7%, to $50.61, after-hours.
Applovin's revenue grew 21% and topped estimates as it reported
a larger-than-expected profit in the third quarter. The marketing
platform said the quarterly performance was driven by strong
results from its artificial intelligence-based advertising engine.
Shares rise 16%, to $46.70, after-hours.
Topgolf Callaway Brands said it is expecting a slowdown in
demand at its Topgolf locations, slashing guidance for sales and
earnings. The driving range and golf equipment company's sales and
profit fell in the third quarter. Shares fall 16%, to $10.44,
after-hours.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
November 08, 2023 19:03 ET (00:03 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
ARM (NASDAQ:ARM)
Historical Stock Chart
From Apr 2024 to May 2024
ARM (NASDAQ:ARM)
Historical Stock Chart
From May 2023 to May 2024