Stock Movers: Crocs Shares Rise, AppLovin Surges, Arm Drops After Downbeat Forecast
On this episode of Stock Movers: • Crocs shares rose after first quarter adjusted EPS and adjusted net income both beat estimates. However, the company withdrew its full year outlook for this year and said it won't provide full-year guidance at this time. • AppLovin jumped after the AI-powered ad platform reported results after the close Wednesday, with both first quarter EPS and net income beating estimates. The company also projects ad revenue to beat forecasts in 2Q. • ARM Holdings shares fell after first quarter sales forecast for $1 billion to $1.1 billion disappointed analysts. CEO Rene Haas blamed the miss on the timing of new agreements with customers, saying the outlook is conservative "to make sure we don't overreach." (Source: Bloomberg)
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