Atlassian Surges, Airbnb Jumps, Sweetgreen Tumbles

Today's biggest winners and losers in the stock market, a look at the notable movers:
On this episode of Stock Movers:

- Atlassian (TEAM) shares surged in trading after quarterly revenue climbed, easing concerns that the software services company would be overtaken by artificial intelligence applications.Fourth-quarter revenue rose 28% from a year earlier to $1.77 billion in the three months ended June 30, Atlassian said in a statement Thursday. First-quarter revenue is projected to be $1.71 billion to $1.72 billion, above the $1.67 billion average analyst estimate.

- Airbnb (ABNB) shares jumped after the company boosted its annual revenue forecast, citing robust demand in the US and Europe. The company now sees annual revenue growth improving by a percentage of “at least mid teens” and boosted its full-year margin forecast for adjusted earnings. Airbnb’s optimistic outlook suggests that travel demand remains healthy, with overall nights and seats booked jumping 10% to 148.3 million in the second quarter.

- Sweetgreen (SG) cut its annual outlook due to reduced consumer demand for fresh prepared foods during the cyclospora outbreak. The company now expects full-year sales at established restaurants to plummet as much as 8% this year, and its shares tumbled as much as 12% in New York trading on Friday. Sweetgreen has been trying to win over diners with cheaper options, including wraps, and has also reduced the number of restaurant openings, but sales at established locations fell 6.2% in the second quarter.

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