Hot Stocks: MRNA, NKLA, LYV rally on quarterly results; BIRD rebounds from early slide
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While headlines out of Ukraine continue to dominate Wall Street, earnings news provided a catalyst for a large number of single-stock moves in Thursday's midday trading. Moderna (NASDAQ:MRNA) and Nikola (NASDAQ:NKLA) both rallied on earnings reports and product updates.
Live Nation (NYSE:LYV) also showed an advance during intraday action, boosted by a strong Q4 showing.
Meanwhile, Allbirds (NASDAQ:BIRD) posted an early slide following its quarterly report but had recovered most of its losses by the middle of the day.
Gainers
Moderna (MRNA) showed substantial strength in midday trading following the release of quarterly results and the announcement of a new COVID booster candidate. Shares jumped more than 12% on the news.
The company revealed a new booster candidate that combines an Omicron-specific vaccine with the firm's standard COVID shot. Meanwhile, MRNA also announced better-than-expected Q4 results, including revenue that jumped to $7.2B on strong sales of the vaccine. The firm also announced a $3B stock repurchase plan.
Earnings news also gave a boost to Live Nation (LYV). Benefiting from a rebound in concert-going in the post-COVID world, the live event promoter posted Q4 revenue of $2.71B -- more than $650M above analysts' expectations. The stock rose 6% in intraday action.
Nikola (NKLA) scored a midday gain as well, rising about 7% after reporting a narrower-than-projected loss. The electric vehicle maker reported an adjusted EBITDA loss for Q4 of $90.4M, compared to an expectation of a loss of $134M.
NKLA also announced that it has delivered its first two Tre BEV vehicles to TTSI in California as a part of a three-month pilot program.
Decliner
Allbirds (BIRD) matched projections with its Q4 loss, on revenues that rose 23% from last year and edged past expectations. However, shares of the shoe maker retreated on weak guidance. The company predicted Q1 revenue of $60M-$62M, below the $63.7M consensus estimate of Wall Street analysts.
BIRD plunged at the start of Thursday's trading, dragged down by the earnings news. Shares reached $7.55 -- its lowest level since coming public in November in an IPO priced at $15 a share. However, the stock has cut its losses since the initial trades. By 11:30 a.m. ET, BIRD had rebounded to $8.49.

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