Fabrinet Declines, Baidu ADRs Fall, Klarna Sinks as Guide Cut Overshadows 2Q Rev Beat
About this episode
On this episode of Stock Movers:
- Fabrinet (FN) shares fell. The process engineering and manufacturing services firm’s Datacom sales disappointed investors. The company also reported fourth-quarter results that beat expectations.
- Baidu (BIDU) ADRs fall. The Chinese search-engine operator reported its fifth quarter of free cash outflow in the past six, thanks to soaring capital expenditures. It also reported AI-powered revenue that was weaker than analysts expected.
- Klarna (KLAR) shares sink. The payments company slashed its full year revenue and gross merchandise value guidance, missing expectations. Active consumers for the second quarter also missed expectations. KBW said the key issue is the weaker second half outlook.
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