Charles Schwab (SCHW) shares saw their worst open since March 2023 on Wednesday, despite reporting fourth-quarter earnings that beat expectations. Revenue, however, slightly missed forecasts. The company’s CEO Walt Bettinger said on the earnings call that “No one at Schwab is kidding themselves that everything is perfect right now.”
Chinese tech stocks including Alibaba (BABA) also traded lower following disappointing GDP data out of China showing muted post-COVID consumer demand recovery.
Grocery delivery platform Instacart (CART) gained ground after being upgraded to “Outperform” at Wolfe Research with a $35 price target. Analysts there speculate that the company, which is incorporated at Maplebear, could gain investment or acquisition interest from Uber (UBER).
Yahoo Finance’s Madison Mills and Josh Lipton break down the details of these trending tickers.
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Editor’s note: This article was written by Angel Smith
