Cerebras Tumbles, Stubhub Drops, Birkenstock Rallies on Solid Sandal Demand

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:
- Cerebras (CBRS) shares slid after the company projected slower growth than some investors anticipated. Revenue will be about $215 million in the current quarter, which topped the $212 million average estimate but was below some predictions. The company's cloud division revenue nearly quadrupled to $127.7 million on a core basis, eclipsing its hardware business, which sells computers outfitted with its chips.
- Stubhub (STUB) shares drop. The ticketing company reported earnings per share for the second quarter that missed the average analyst estimate. Analysts highlight a boost from the World Cup, but note that the company’s full-year forecast underwhelmed.
- Birkenstock (BIRK) shares rise. Birkenstock Holding Plc expects revenue growth of 15% on a constant-currency basis for the fiscal year that ends in September, implying revenue of as much as €2.35 billion. The company posted strong quarterly earnings, with constant-currency sales rising to €720 million in the quarter through June, and an adjusted gross profit margin of 59.2%.

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