In the midst of the busiest day in earnings season, stock markets extended their declines as investors evaluated quarterly results from big names like Microsoft and Meta, alongside economic indicators that clouded the outlook for Federal Reserve interest-rate policy. Here’s a breakdown of how some of the most notable companies performed and what’s driving the movement in their stocks.

eBay Drops on Disappointing Forecast

eBay took a nearly 9% hit after issuing a fourth-quarter revenue forecast that fell short of Wall Street’s expectations. The online marketplace expects revenues between $2.53 billion and $2.59 billion for the quarter, slightly below the anticipated $2.65 billion, per StreetAccount. However, it’s worth noting that eBay’s earnings for the most recent quarter actually surpassed estimates, though that wasn’t enough to offset concerns over future growth.

Peloton Surges with New CEO and Upbeat Forecast

Peloton shares jumped more than 8% following two positive developments: the announcement of Peter Stern, a former Ford executive, as the new CEO, and stronger-than-expected first-quarter earnings. The company, known for its at-home exercise equipment and media content, also raised its profit forecast for the full year, signaling optimism under its refreshed leadership.

Microsoft Slips on Modest Revenue Forecast

Despite exceeding analyst expectations in the fiscal first quarter, Microsoft shares dipped nearly 4% as the tech giant issued a more conservative revenue forecast for the current quarter. Microsoft projected revenue between $68.1 billion and $69.1 billion, slightly under the $69.8 billion consensus estimate, according to LSEG. This cautious outlook contributed to the stock’s slip as investors reassessed expectations for future growth.

Booking Holdings Gains on Strong Earnings

Booking Holdings, the parent company of Booking.com, surged 6.1% following a robust earnings report that beat analyst forecasts. The company posted an adjusted earnings of $83.39 per share on $7.99 billion in revenue, well above LSEG’s expectations of $77.52 per share and $7.63 billion in revenue. The strong performance reflected heightened demand for travel services, despite broader economic uncertainties.

Robinhood Drops After Earnings Miss

The trading platform Robinhood saw its stock tumble 11% after reporting lower-than-expected earnings for the third quarter. The company posted earnings of 17 cents per share on $637 million in revenue, missing the expected 18 cents per share and $658 million revenue estimate. According to Robinhood’s CFO, marketing promotions aimed at attracting new customers impacted the quarter’s revenue, a factor that disappointed investors.

Uber Slides After Missed Bookings Estimate

Uber Technologies faced a decline of over 6% after reporting lower-than-expected gross bookings for the third quarter, coming in at $40.97 billion against the anticipated $41.25 billion, per StreetAccount. However, Uber’s revenue exceeded expectations, suggesting that while ride-hailing demand remains strong, meeting growth projections continues to be a challenge.

Comcast Climbs on Solid Earnings

Comcast stock rose nearly 6% after the company’s third-quarter earnings and revenue topped analyst predictions. The theme park and media giant reported earnings of $1.12 per share, surpassing expectations of $1.06, with revenue reaching $32.07 billion versus the projected $31.66 billion. Comcast’s performance reflected the resilience of its diverse business segments, including cable, streaming, and theme parks.

Super Micro Computer Plummets Amid Accounting Concerns

Shares of Super Micro Computer dropped another 5%, following a steep 32% decline on Wednesday. The plunge came after the company’s auditor resigned, citing concerns about board independence and accounting practices. Investors reacted strongly, as the resignation underscored potential governance and transparency issues within the company.

Meta Platforms Declines on User Growth and Spending Projections

Meta Platforms, parent of Facebook and Instagram, fell 3% despite surpassing Wall Street’s earnings expectations. The company’s monthly user numbers, however, came in below the anticipated 3.31 billion. Additionally, Meta raised its capital expenditure forecast for the year, noting ongoing investments in AI, which it expects to drive growth into 2025. This mixed bag of news appeared to leave investors uncertain about the stock’s short-term trajectory.

Cigna Rises on Strong Earnings

Cigna’s stock rose over 2% after the health insurer beat both earnings and revenue estimates for the third quarter. Cigna posted adjusted earnings of $7.51 per share on $63.7 billion in revenue, outperforming FactSet’s forecast of $7.23 per share on $59.58 billion. These results underscored Cigna’s steady performance in the healthcare sector.

Coinbase Dips After Earnings Miss

Coinbase, a leading cryptocurrency exchange, saw its stock drop more than 2% after reporting weaker-than-expected third-quarter results. The company earned 28 cents per share on $1.21 billion in revenue, missing the consensus estimates of 41 cents and $1.26 billion, according to LSEG. The company’s struggle to meet expectations reflects the broader volatility in the crypto market and uncertain regulatory landscape.

Mixed Results Fuel Market Caution

As investors sift through earnings, mixed signals across sectors have left markets in a cautious state. Companies like Booking Holdings and Comcast provided bright spots with impressive earnings, while others, including eBay and Uber, raised concerns with underwhelming forecasts. Meanwhile, the Federal Reserve’s interest-rate decisions remain unclear, adding to the ongoing volatility. Investors will continue monitoring these developments closely as they seek to navigate the complex landscape of earnings season.