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DoorDash reports earnings miss, underwhelming earnings guidance

DoorDash reported earnings results that missed Wall Street expectations and provided underwhelming earnings guidance Wednesday after the bell, which it attributed to harsh weather and increased spending. The stock rebounded in premarket trading on Thursday.

For the final three months of 2025, DoorDash reported:

  • Earnings per share of $0.48, compared to the $0.59 analysts polled by FactSet were expecting.

  • Revenue of $3.9 billion, in line with the $3.9 billion analysts were penciling in.

  • Gross order value (the total amount spent on the platform) of $29.7 billion, compared to the $29.2 billion analysts were expecting.

For the current quarter, the company expects:

  • GOV between $31.0 billion and $31.8 billion, versus the $30.7 billion analysts are expecting.

  • Adjusted EBITDA between $675 million and $775 million, far below the $801.9 million analysts are expecting. The company said spending on Deliveroo, its recent UK acquisition, as well as extreme winter weather in the US are weighing on its profit guidance.

Shares fell as much as 11% following the release of its results on Wednesday, before climbing as much as 13% in Thursday’s early trading, recovering its losses. The stock is down more than 15% so far this year.

DoorDash’s costs have gone up as it ramps up investment in autonomous delivery and international expansion, among other things. “This is a massive and expensive undertaking and honestly one you shouldn’t do if you thought your best days were behind you,” CEO Tony Xu said in a letter to shareholders.

Ethan Feller, a strategist at Zacks Investment Research, said the underlying business remains strong even if the stock faces pressure in the near term.

“None of these are structural issues, but soft guidance is soft guidance — and the market rarely gives credit for context when a stock is already under pressure,” he said.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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