Twilio Stock (NYSE:TWLO), Trade Ideas

Twilio

Twilio is a cloud-based communications platform-as-a-service company offering communication building blocks that allow for a fully customized customer engagement experience spanning voice, video, chat, and SMS messaging. It does this through various application programming interfaces and prebuilt solution applications aimed at improving customer engagement. The company leverages its Super Network, a global network of carrier relationships, to facilitate high-speed, cost-effective communication.

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On Wednesday, Cathie Wood’s Ark Invest made some significant trades.

Cathie Wood&#39;s Ark Invest Purchases Over $30M of Shopify Shares Amid Q1 Numbers-Driven Plunge; Adds Reddit Shares To Kitty — Offloads Coinbase Stock As Bitcoin Declines

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Why Upstart Shares Are Trading Lower By Around 10%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

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Wednesday witnessed a tempering of the bullish sentiment that had buoyed Wall Street in recent sessions, with major indices showing slight declines around midday trading in New York.

Stocks Falter As Fed Signals Need For Higher-For-Longer Rates; Uber Crashes, Energy Sector Loses Ground: What&#39;s Driving Wednesday&#39;s Market?

Twilio Inc

Twilio's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) short percent of float has risen 5.73% since its last report. The company recently reported that it has 2.49 million shares sold short, which is 1.66% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.0 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Twilio Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715272217_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Twilio has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Twilio's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Twilio's peer group average for short interest as a percentage of float is 6.99%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

(TWLO) - Analyzing Twilio's Short Interest

On Wednesday, Cathie Wood&#8217;s Ark Invest made some significant trades. The most prominent among these were the purchases of Shopify Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) and Reddit Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>), and the selling off of Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) shares.
The Shopify Trade
Ark Invest&#8217;s Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>), ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), and ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) bought a combined total of 482,042 shares of Shopify. The trade was valued at $30.24 million. For the day, Shopify shares plunged 18.59% to $62.73 in the regular session.
This move came despite the company&#8217;s stock plunging after it reported its quarterly results. According to a <a href="https://www.benzinga.com/news/earnings/24/05/38703997/shopify-stock-plunges-after-q1-print-as-sale-of-logistics-business-weigh">Benzinga report</a>, Shopify&#8217;s revenue grew by 23% year-over-year to $1.86 billion, beating the consensus estimate of $1.845 billion. However, the company reported a loss of $(273) million after a profit of $68 million a year ago.
The Reddit Trade
Ark Invest&#8217;s ETFs ARKF and ARKW also bought a combined total of 115,394 shares of Reddit. The transaction amounted to $5.93 million. On Wednesday, Reddit shares closed 4.05% higher at $51.40.
 The social media platform&#8217;s shares soared soon after it reported its <a href="https://www.benzinga.com/news/earnings/24/05/38683061/reddit-shares-soar-on-first-post-ipo-q1-results-strong-q2-guidance">first-quarter financial results</a> and gave strong Q2 guidance. Reddit&#8217;s quarterly sales were $242.963 million, beating the analyst consensus estimate of $212.83 million by 14.16%.
The Coinbase Trade
Ark Invest&#8217;s ETFs ARKF and ARKW sold a total of 41,964 shares of Coinbase Global Inc. The amount of shares purchased was worth $8.89 million. Coinbase shares closed 1.46% lower at $211.20 for the day.
Ark&#8217;s move was made amidst a softening Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) price, as reported by <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38720330/bitcoin-ethereum-dogecoin-continue-to-slip-analyst-says-king-crypto-network-fundamentals-i">Benzinga</a>. Coinbase&#8217;s shares closed at $211.2 on Wednesday, marking a decrease of 1.46%.
Other Key Trades:
<ul>
<li>Ark Invest&#8217;s ARKF sold shares of Global-E Online Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLBE#NASDAQ">GLBE</a>). ARKF also sold shares each of Twilio Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) and StoneCo Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STNE#NASDAQ">STNE</a>). </li>
<li>ARKK sold shares of Draftkings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) and shares of Twist Bioscience Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWST#NASDAQ">TWST</a>). ARKQ sold shares of AeroVironment Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAV#NASDAQ">AVAV</a>) and those of of 2U Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWOU#NASDAQ">TWOU</a>) but bought stock of Rocket Lab USA Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>). </li>
</ul>
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38635874/elon-musk-is-astonished-by-warren-buffetts-berkshire-hathaway-amassing-as-much-cash-as-tesla-ceo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Is Astonished By Warren Buffett&#8217;s Berkshire Hathaway Amassing As Much Cash As Tesla CEO&#8217;s Wealth: &#8216;Wow&#8217;</a>
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Cathie Wood's Ark Invest Purchases Over $30M of Shopify Shares Amid Q1 Numbers-Driven Plunge; Adds Reddit Shares To Kitty — Offloads Coinbase Stock As Bitcoin Declines

Macquarie analyst Frederick Havemeyer maintains Twilio (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) with a Neutral and lowers the price target from $69 to $63.

Price Target

Macquarie Maintains Neutral on Twilio, Lowers Price Target to $63

Shares of Upstart Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>) fell sharply during Wednesday's session after the company reported first-quarter financial results and issued second-quarter revenue <a href="https://www.benzinga.com/news/earnings/24/05/38682848/upstart-q1-earnings-revenue-beat-eps-beat-targeting-positive-ebitda-in-2024-and-more">guidance below estimates</a>.
Upstart reported first-quarter revenue of $128 million, which beat the consensus estimate of $124.867 million, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Upstart expects second-quarter revenue of approximately $125 million versus estimates of $140.83 million. The company anticipates a second-quarter adjusted EBITDA loss of approximately $25 million.
Upstart shares dipped 10.3% to $21.96 on Wednesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Reborn Coffee, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REBN#NASDAQ">REBN</a>) shares jumped 132.9% to $4.0297 after the company announced a significant expansion into the China market through a strategic Master License Agreement with IAID Co.</li>
<li>iSun, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISUN#NASDAQ">ISUN</a>) gained 49% to $0.1966.</li>
<li>NewGenIvf Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIVF#NASDAQ">NIVF</a>) jumped 36.4% to $1.48.</li>
<li>Tivic Health Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIVC#NASDAQ">TIVC</a>) rose 34% to $1.4099.</li>
<li>Innodata Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INOD#NASDAQ">INOD</a>) shares gained 31.5% to $8.86 after the company reported a year-over-year increase in first-quarter financial results.</li>
<li>Cricut, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRCT#NASDAQ">CRCT</a>) gained 31% to $7.25 after the company reported better-than-expected first-quarter GAAP EPS results.</li>
<li>MaxCyte, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MXCT#NASDAQ">MXCT</a>) rose 27.6% to $5.01 following upbeat quarterly results.</li>
<li>Ameresco, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMRC#NASDAQ">AMRC</a>) gained 27.6% to $28.47 following strong quarterly results.</li>
<li>Davis Commodities Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DTCK#NASDAQ">DTCK</a>) rose 26.8% to $1.5580</li>
<li>Elanco Animal Health Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELAN#NYSE">ELAN</a>) surged 26.5% to $17.11 following strong quarterly earnings.</li>
<li>American Public Education, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APEI#NASDAQ">APEI</a>) rose 23.3% to $18.71 following upbeat quarterly results.</li>
<li>Globus Medical, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GMED#NYSE">GMED</a>) gained 23.3% to $63.35 after the company reported better-than-expected first-quarter financial results and raised its FY24 guidance.</li>
<li>Kyndryl Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KD#NYSE">KD</a>) jumped 21.6% to $25.25 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>PowerSchool Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWSC#NYSE">PWSC</a>) gained 21.2% to $20.17 following a report suggesting Bain is pursuing a takeover of the company.</li>
<li>Myriad Genetics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYGN#NASDAQ">MYGN</a>) rose 21.1% to $24.02 following better-than-expected first-quarter earnings.</li>
<li>Arko Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKO#NYSE">ARKO</a>) gained 20.3% to $5.15 following first-quarter earnings.</li>
<li>Latham Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWIM#NASDAQ">SWIM</a>) gained 19% to $3.5609 following strong first-quarter earnings.</li>
<li>Hyster-Yale Materials Handling, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HY#NYSE">HY</a>) surged 18.2% to $69.74 following UPBEAT first-quarter earnings.</li>
<li>Alpha and Omega Semiconductor Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AOSL#NASDAQ">AOSL</a>) jumped 17.7% to $26.22 after reporting strong quarterly results.</li>
<li>Neo-Concept International Group Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCI#NASDAQ">NCI</a>) gained 17.2% to $1.1529 after declining over 6% on Tuesday.</li>
<li>Oddity Tech Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODD#NASDAQ">ODD</a>) gained 15.8% to $36.19 after the company reported better-than-expected first-quarter financial results and issued FY24 EPS guidance above estimates.</li>
<li>Dutch Bros Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BROS#NYSE">BROS</a>) climbed 15.5% to $32.82 after the company reported better-than-expected first-quarter financial results and raised its FY24 revenue guidance.</li>
<li>Louisiana-Pacific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPX#NYSE">LPX</a>) gained 15% to $83.93 following better-than-expected first-quarter financial results.</li>
<li>RingCentral, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNG#NYSE">RNG</a>) rose 14.8% to $34.42 after the company reported better-than-expected first-quarter financial results and raised its FY24 guidance.</li>
<li>Luminar Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAZR#NASDAQ">LAZR</a>) rose 14.5% to $1.89 as the company posted a narrower-than-expected quarterly loss.</li>
<li>Toast, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOST#NYSE">TOST</a>) gained 14.2% to $27.09 after the company reported better-than-expected quarterly sales results.</li>
<li>Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HASI#NASDAQ">HASI</a>) gained 13.9% to $29.84 following upbeat earnings.</li>
<li>Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) rose 13% to $15.75 after the company reported mixed first quarter financial results.</li>
<li>Repare Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPTX#NASDAQ">RPTX</a>) gained 11.7% to $3.6650 after the company posted better-than-expected results for its first quarter.</li>
<li>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) gained 10.1% to $90.01 after the company reported first quarter financial results.</li>
<li>Cirrus Logic, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRUS#NASDAQ">CRUS</a>) jumped 9.6% to $99.93 as the company posted better-than-expected results for its fourth quarter.</li>
<li>Clover Health Investments, Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLOV#NASDAQ">CLOV</a>) shares gained 9.5% to $0.81 after the company reported better than expected first-quarter financial results.</li>
<li>Lyft, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) gained 8.8% to $18.08 following better-than-expected first-quarter results.</li>
<li>Veeco Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VECO#NASDAQ">VECO</a>) rose 6.9% to $40.08 following upbeat results.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Treace Medical Concepts, Inc.. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMCI#NASDAQ">TMCI</a>) shares dipped 60.8% to $4.3650 after the company reported first-quarter financial results and issued FY24 revenue guidance below estimates.</li>
<li>DoubleVerify Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DV#NYSE">DV</a>) fell 38.5% to $18.79 after the company reported first-quarter financial results.</li>
<li>Inspire Medical Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INSP#NYSE">INSP</a>) fell 34.3% to $161.35 following first-quarter results.</li>
<li>Definitive Healthcare Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DH#NASDAQ">DH</a>) dipped 32.2% to $4.9150 after the company reported worse-than-expected first-quarter sales results.</li>
<li>Seres Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCRB#NASDAQ">MCRB</a>) fell 31.1% to $0.7653 following quarterly results.</li>
<li>Tripadvisor, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRIP#NASDAQ">TRIP</a>) fell 28.4% to $18.24 after Liberty Tripadvisor and the Special Committee ceased discussions with third parties with respect to a potential transaction.</li>
<li>ZoomInfo Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZI#NASDAQ">ZI</a>) shares fell 25.2% to $11.98 after the company reported first-quarter financial results and issued second-quarter guidance below estimates.</li>
<li>LegalZoom.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LZ#NASDAQ">LZ</a>) dipped 23.3% to $9.35 after the company reported worse-than-expected first-quarter financial results and issued second-quarter revenue guidance below estimates.</li>
<li>Semler Scientific, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMLR#NASDAQ">SMLR</a>) fell 22.7% to $21.78 after the company reported worse-than-expected first-quarter financial results.</li>
<li>Grocery Outlet Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GO#NASDAQ">GO</a>) dipped 22.2% to $20.17 after the company reported worse-than-expected first-quarter adjusted EPS results.</li>
<li>Flywire Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLYW#NASDAQ">FLYW</a>) shares declined 21.7% to $16.08 after the company reported worse-than-expected first-quarter EPS results and issued second-quarter revenue guidance below estimates.</li>
<li>SIGA Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIGA#NASDAQ">SIGA</a>) dipped 20.6% to $8.31 following first-quarter results.</li>
<li>Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) fell 19.8% to $61.76 following first-quarter earnings..</li>
<li>Rapid7, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPD#NASDAQ">RPD</a>) dipped 18.6% to $37.26 following first-quarter earnings..</li>
<li>Acutus Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFIB#NASDAQ">AFIB</a>) fell 17.1% to $0.1020 after jumping 15% on Tuesday. Nasdaq, last week, notified the company that it has not regained compliance with listing rule 5550(a)(2).</li>
<li>Shoals Technologies Group, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHLS#NASDAQ">SHLS</a>) shares fell 14.1% to $7.56 after the company reported worse-than-expected first-quarter sales results.</li>
<li>Masimo Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MASI#NASDAQ">MASI</a>) fell 13.8% to $117.23 following first-quarter earnings. The company&#8217;s second-quarter guidance midpoint was below consensus estimates.</li>
<li>EchoStar Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) dipped 13.6% to $14.99 following worse-than-expected first-quarter financial results.</li>
<li>STAAR Surgical Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STAA#NASDAQ">STAA</a>) dipped 11.8% to $41.10 following quarterly results.</li>
<li>Volcon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLCN#NASDAQ">VLCN</a>) shares declined 11.8% to $0.26 after the company reported a year-over-year decrease in first-quarter sales results.</li>
<li>Qualys, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QLYS#NASDAQ">QLYS</a>) fell 10.1% to $149.21 after the company reported first-quarter earnings and issued second-quarter revenue guidance below estimates.</li>
<li>Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) fell 9.1% to $31.74 following third-quarter earnings.</li>
<li>Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) dipped 8.6% to $64.40. Uber posted weaker-than-expected fiscal first-quarter financial results.</li>
<li>Coupang, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPNG#NYSE">CPNG</a>) fell 7.8% to $21.78 after the company reported mixed first-quarter financial results.</li>
<li>Astera Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>) shares declined 6.3% to $71.37 following first-quarter results.</li>
<li>Centrus Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEU#NYSE">LEU</a>) shares declined 6.2% to $41.56 following first-quarter results.</li>
<li>A-Mark Precious Metals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMRK#NASDAQ">AMRK</a>) shares fell 5.5% to $38.14 following fiscal third quarter 2024 results.</li>
<li>Twilio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) shares fell 5.5% to $59.86 following first-quarter results.</li>
<li>OPKO Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPK#NASDAQ">OPK</a>) shares fell 5.4% to $1.23 after the company reported worse-than-expected first-quarter financial results.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/05/38702433/airbnb-gears-up-for-q1-print-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call">Airbnb Gears Up For Q1 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a>

Why Upstart Shares Are Trading Lower By Around 10%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

Wednesday witnessed a tempering of the bullish sentiment that had buoyed Wall Street in recent sessions, with major indices showing slight declines around <a href="https://www.benzinga.com/markets">midday trading in New York.</a>
Hawkish remarks from Minneapolis Fed President Neel Kashkari and Boston Fed President Susan Collins sparked concerns among investors about the potential delay in rate cuts, as the likelihood of enduring higher interest rates gained traction.
Kashkari asserted that the Fed would likely need to maintain borrowing costs at current levels for an extended period, potentially throughout the year, and did not rule out rate hikes if inflation remained stubbornly high at 3%.
Collins echoed similar sentiments, suggesting that a slowdown in economic growth would be necessary to bring inflation closer to the Fed&#8217;s 2% target, cautioning against premature rate cuts.
The S&amp;P 500, as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), edged down by 0.2%, striving for a fifth consecutive day of gains, which would mark the longest winning streak since late January.
The Nasdaq 100 also slipped by 0.2%, while blue-chip stocks in the Dow Jones Industrial Average marginally managed to avoid losses. However, small-cap stocks were the laggards of the day, with the Russell 2000 Index declining by 0.9%.
In the commodities market, the Energy Information Administration&#8217;s report of a decline in crude oil inventories last week led to a modest 0.6% increase in West Texas Intermediate prices. Gold prices remained steady, while silver experienced a modest uptick of 0.6%.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) traded flat at $62,300.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance Of Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg</td>
<td>%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,938.23</td>
<td>+53.97</td>
<td>0.1%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,062.51</td>
<td>-28.94</td>
<td>-0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,177.51</td>
<td>-10.19</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,056.16</td>
<td>-1.81</td>
<td>-0.9%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:54 EDT</figcaption></figure>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Uber Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NASDAQ">UBER</a>) fell over 9% after the company missed earnings expectation, ad reported a loss in Q1. </li>
<li>Other stocks reacting to earnings were Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>), down 19%, Tripadvisor.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRIP#NASDAQ">TRIP</a>), down 29%, Kyndril Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KD#NYSE">KD</a>) up 23%, Emerson Electric Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>) up 3.5%, Vista Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>), Broadbidge Financial Solutiom (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BR#NYSE">BR</a>) down 6%, TPG Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>) down 3% Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>), up 6%, Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), up 3% Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDT#NYSE">RDT</a>) up 2.3%, Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) down over 11%, Twilio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) down over 6%.</li>
<li>Those reporting after the close include Airbnb, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>), AppLovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>), Beyond Meat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYND#NASDAQ">BYND</a>), Bumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMBL#NASDAQ">BMBL</a>), Cheesecake Factory Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAKE#NASDAQ">CAKE</a>), Exact Sciences Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXAS#NASDAQ">EXAS</a>), HubSpot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUBS#NYSE">HUBS</a>), News Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWSA#NASDAQ">NWSA</a>), Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>), The Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) and SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>).</li>
</ul>
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38701300/apples-new-m4-ipads-more-powerful-than-any-ai-pc-today-set-to-boost-sales">Apple&#8217;s New M4 iPads: &#8216;More Powerful Than Any AI PC&#8217; Today, Set To Boost Sales</a>
Image generated using artificial intelligence via Midjourney.

Stocks Falter As Fed Signals Need For Higher-For-Longer Rates; Uber Crashes, Energy Sector Loses Ground: What's Driving Wednesday's Market?

Canaccord Genuity analyst Michael Walkley maintains Twilio (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) with a Buy and lowers the price target from $90 to $85.

Canaccord Genuity Maintains Buy on Twilio, Lowers Price Target to $85

Bernstein analyst Peter Weed maintains Twilio (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) with a Market Perform and lowers the price target from $70 to $68.

Bernstein Maintains Market Perform on Twilio, Lowers Price Target to $68

Piper Sandler analyst James Fish maintains Twilio (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) with a Overweight and raises the price target from $78 to $79.

Piper Sandler Maintains Overweight on Twilio, Raises Price Target to $79

Twilio Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) shares are trading lower Wednesday after the company reported first-quarter financial results and issued soft guidance <a href="https://www.benzinga.com/pressreleases/24/05/b38681317/twilio-announces-first-quarter-2024-results">for the second quarter</a>. 
What Happened: Twilio said first-quarter revenue was up 4% year-over-year to $1.05 billion, which beat the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a> of $1.03 billion. The cloud-based customer engagement company reported quarterly earnings of 80 cents per share, which beat analyst estimates of 60 cents per share, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. 
Communications revenue came in at $972 million, up 4% year-over-year. Segment revenue totaled $75 million, up 2% year-over-year. Twilio said it had more than 313,000 active customer accounts as of March 31, up from 300,000 year-over-year. 
"We are operating with greater financial discipline, operational rigor, and focus on innovation than ever before. Our solid&nbsp;first quarter&nbsp;results build on the momentum that we've delivered over the last several quarters, demonstrating continued progress on profitability and significant free cash flow," said&nbsp;Khozema Shipchandler, CEO of Twilio.&nbsp;
"Moving forward, we'll continue to drive further leverage, while also making focused investments that we expect will re-accelerate growth over time."
Guidance: Twilio expects second-quarter revenue to be between $1.05 billion and $1.06 billion versus estimates of $1.08 billion. The company anticipates second-quarter earnings of 64 cents to 68 cents per share versus estimates of 62 cents per share. Twilio also said it expects full-year 2024 revenue growth of 5% to 10%.
Following the print, Baird analyst William Power maintained Twilio with a <a href="https://www.benzinga.com/analyst-stock-ratings">Neutral rating</a> and lowered the price target from $70 to $65.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38696261/prominent-apple-bull-reveals-surprise-takeaway-from-apples-ipad-launch-tim-cooks-ai">Prominent Apple Bull Reveals Surprise Takeaway From Apple&#8217;s iPad Launch: Tim Cook&#8217;s AI Ambitions Now &#8216;Lot Faster&#8230;With Announcement Of M4 Chip&#8217;</a>
TWLO Price Action: <a href="https://www.benzinga.com/quote/TWLO" target="_blank" rel="noreferrer noopener">Twilio shares</a> were down 7.05% at $58.90 at the time of publication, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Photo: <a href="https://www.flickr.com/photos/websummit/">Web Summit</a> from Flickr.

Earnings

Twilio Stock Is Trading Lower Wednesday: What's Going On?

Needham analyst Ryan Koontz reiterates Twilio (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) with a Buy and maintains $71 price target.

Reiteration

Needham Reiterates Buy on Twilio, Maintains $71 Price Target

<h3>Gainers</h3>
<ul>
<li>Soluna Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNH#NASDAQ">SLNH</a>) shares moved upwards by 16.5% to $2.83 during Wednesday's pre-market session. The company's market cap stands at $10.7 million. </li>
<li>RingCentral (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNG#NYSE">RNG</a>) stock moved upwards by 13.33% to $33.99. The market value of their outstanding shares is at $3.1 billion. As per the press release, Q1 earnings came out yesterday. </li>
<li>Mawson Infra Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIGI#NASDAQ">MIGI</a>) stock rose 13.15% to $1.29. The market value of their outstanding shares is at $22.5 million. </li>
<li>Cirrus Logic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRUS#NASDAQ">CRUS</a>) stock increased by 12.47% to $102.5. The company's market cap stands at $5.5 billion. As per the news, the Q4 earnings report came out yesterday. </li>
<li>Olo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OLO#NYSE">OLO</a>) stock moved upwards by 9.38% to $5.13. The market value of their outstanding shares is at $826.1 million. As per the news, the Q1 earnings report came out yesterday. </li>
<li>Veritone (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERI#NASDAQ">VERI</a>) shares rose 8.77% to $3.62. The market value of their outstanding shares is at $136.5 million. As per the news, the Q1 earnings report came out yesterday. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>DoubleVerify Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DV#NYSE">DV</a>) stock declined by 40.8% to $18.1 during Wednesday's pre-market session. The market value of their outstanding shares is at $3.1 billion. As per the press release, Q1 earnings came out yesterday. </li>
<li>Alpha Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATGL#NASDAQ">ATGL</a>) stock declined by 8.12% to $3.85. The market value of their outstanding shares is at $58.7 million. </li>
<li>Corsair Gaming (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRSR#NASDAQ">CRSR</a>) shares decreased by 7.49% to $10.88. The company's market cap stands at $1.1 billion. As per the news, the Q1 earnings report came out yesterday. </li>
<li>Ostin Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OST#NASDAQ">OST</a>) stock declined by 7.33% to $0.42. The company's market cap stands at $6.9 million. </li>
<li>Twilio (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) shares declined by 6.9% to $59.0. The market value of their outstanding shares is at $10.3 billion. As per the press release, Q1 earnings came out yesterday. </li>
<li>Auddia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUUD#NASDAQ">AUUD</a>) stock declined by 6.9% to $1.62. The company's market cap stands at $3.8 million. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ATGL

AUUD

CRSR

MAWSON INFRSTRUCTURE GRP by Mawson Infrastructure Group Inc.

MIGI

SLNH

VERI

12 Information Technology Stocks Moving In Wednesday's Pre-Market Session

Baird analyst William Power maintains Twilio (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) with a Neutral and lowers the price target from $70 to $65.

Baird Maintains Neutral on Twilio, Lowers Price Target to $65

U.S. stocks are on track for a mixed start on Wednesday as the <a href="https://www.benzinga.com/news/earnings/24/05/38683629/twilio-q1-earnings-revenue-beat-eps-beat-buyback-update-and-more">market digests mixed earnings reports</a> and looks ahead to more speeches by Federal Reserve officials. Given the paucity of any market-moving economic data, the spotlight will likely be on central bank officials&#8217;s statements about rates and inflation.
The still-contained bond yields suggest traders are still harboring hopes of rate cuts this year. The importance of each incoming data, therefore, can&#8217;t be emphasized enough. &#8220;Wall Street will continue to root for bad economic news since it wants to guilt the Fed to begin cutting key interest rates sooner rather than later,&#8221; said fund manager Louis Navellier.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.03%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.01%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.07%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.46%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Wednesday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged up 0.02% to $517.24,&nbsp;while the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) slipped 0.02% to $440.21, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Session:
Some disappointing earnings, particularly from the tech space, were used by traders as a reason for profit-taking on Tuesday. To make matters worse, Minneapolis Fed President Neel Kashkari, while speaking at a Milken Institute conference., said the the Fed may have to stay higher for longer. He also opined that inflation may not be too high to contain inflationary pressure.
The major averages opened on a mixed note and experienced some volatility in the morning session. Although the indices moved uniformly higher and hovered above the unchanged line during the mid-session, they pulled back in the afternoon. While the Nasdaq Composite settled the day modestly lower, the S&amp;P 500 Index and the Dow Industrials experienced modest gains.
Most sectors advanced, although consumer discretionary, IT, and energy stocks came under selling pressure.
In the process, the Dow Industrials extended its winning streak to five sessions, the S&amp;P 500 was higher for a fourth straight session.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td> Index</td>
<td> Performance (+/-)</td>
<td> Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.10%</td>
<td>16,332.56</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.13%</td>
<td>5,187.70</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.08%</td>
<td>38,884.26</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.19%</td>
<td>2,064.65</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Despite the volatility seen in the market, the broader trajectory in the near term could be higher, said a technical analyst. Fund Strat Global Head of Technical Strategy Mark Newton said in a note on Monday equities remain in a new short-term bullish uptrend as part of intermediate-term uptrends which never wavered during the recent three-week decline.  
&#8220;While more evidence of falling Yields and the US Dollar is likely beginning in the days/weeks ahead, it's likely that the recent uptick in Healthcare, Financials and Industrials are constructive factors for this market technically and should help it broaden out,&#8221; he said. 
The analyst also attaches significance to the bounce seen in SMID-cap stocks over the past week. &#8220;This recovery is also important despite it being in its infancy,&#8221; he said. Newton said he expects the S&amp;P 500 Index to begin its trek back to late March highs at 5264.85 and should exceed this en route to 5400.
Upcoming Economic Data:
<ul>
<li>The Commerce Department is due to release its wholesale inventories report at 10 a.m. EDT. Economists, on average, expect a 0.4% month-over-month decline in wholesale inventories in March, reversing most of the 0.5% gain in February.</li>
<li>The Energy Information Administration will release its customary weekly petroleum status report at 10:30 a.m. EDT.</li>
<li>Fed Vice Chair Philip Jefferson is due to speak at 11 a.m. EDT, followed by Boston Fed President Susan Collins at 11:45 a.m. EDT and Fed Governor Lisa Cook at 1:30 p.m. EDT.</li>
<li>The Treasury will auction 10-year notes at 1 p.m. EDT.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/best-futures-brokers">Best Futures Brokers </a>
Stocks In Focus:
<ul>
<li>Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) climbed over 7.50% <a href="https://www.benzinga.com/premarket">in premarket trading </a>following its earnings announcement.</li>
<li>Other stocks moving on earnings are Coupang, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPNG#NYSE">CPNG</a>) (down over 6%), Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) (down about 3.50%), GoPro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GPRO#NASDAQ">GPRO</a>) (up about 3.80%), Luminar Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAZR#NASDAQ">LAZR</a>), Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) (up over 16%), Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDT#NYSE">RDT</a>) (up nearly 15%), Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) (down over 4%), Twilio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) (down over 6%), RingCentral, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNG#NYSE">RNG</a>) (up nearly 14%), Louisiana-Pacific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPX#NYSE">LPX</a>) (up about 15%), DoubleVerify Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DV#NYSE">DV</a>) (down about 39%), ZoomInfo Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZI#NASDAQ">ZI</a>) (down over 22.50%) and Lyft, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) (up over 5%).</li>
<li>Anheuser-Busch InBev SA/NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>), Choice Hotels International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHH#NYSE">CHH</a>), The New York Times Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYT#NYSE">NYT</a>), Taboola.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBLA#NASDAQ">TBLA</a>), Sunoco LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUN#NYSE">SUN</a>), Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>), Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and EchoStar Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) are among the<a href="https://www.benzinga.com/calendars/earnings"> notable companies reporting ahead of the market open.</a></li>
<li>Those reporting after the close include Airbnb, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>), AppLovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>), Beyond Meat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYND#NASDAQ">BYND</a>), Bumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMBL#NASDAQ">BMBL</a>), Cheesecake Factory Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAKE#NASDAQ">CAKE</a>), Exact Sciences Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXAS#NASDAQ">EXAS</a>), HubSpot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUBS#NYSE">HUBS</a>), News Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWSA#NASDAQ">NWSA</a>), Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>), The Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) and SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures were seen extending their declines and were down about a percent and gold futures traded flattish with a slight negative bias. The 10-year bond yield rose 18 basis points but held below the 4.5% mark. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell over 2% to under $62.5K.
Most Asian markets slipped on Wednesday, tracking the lackluster performances of Wall Street stocks overnight, while the European markets firmed up in early trading.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/05/38636014/will-earnings-cheer-continue-this-week-all-eyes-on-disney-palantir-robinhood-while-reddit-gears-up-">Will Earnings Cheer Continue This Week? All Eyes On Disney, Palantir, Robinhood While Reddit Gears Up For Debut Quarterly Report</a>

Futures

Previews

Federal Reserve

Pre-Market Outlook

TBLA

Wall Street Poised For Muted Open On Mixed Earnings, With More Fed Speeches In Store: Analyst Sees S&P 500 Crossing Late-March High

WIIM

Twilio shares are trading lower after the company reported Q1 financial results and issued soft Q2 revenue guidance.

U.S. stock futures were slightly higher this morning, with the Dow futures gaining around 20 points on Wednesday.
Shares of Flywire Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLYW#NASDAQ">FLYW</a>) fell sharply in today's pre-market trading after the company reported worse-than-expected first-quarter EPS results and issued second-quarter revenue <a href="https://www.benzinga.com/quote/FLYW/news">guidance below estimates</a>.
Flywire posted a quarterly loss of 5 cents per share, compared to market expectations for a loss of 2 cents per share. The company's quarterly sales came in at $114.10 million versus estimates of $109.90 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
Flywire shares dipped 14.1% to $17.65 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Treace Medical Concepts, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMCI#NASDAQ">TMCI</a>) shares dipped 53.7% to $5.15 in pre-market trading after the company reported first-quarter financial results and issued FY24 revenue guidance below estimates.</li>
<li>DoubleVerify Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DV#NYSE">DV</a>) shares tumbled 39.4% to $18.50 in pre-market trading after the company reported first-quarter financial results.</li>
<li>ZoomInfo Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZI#NASDAQ">ZI</a>) shares declined 21.1% to $12.65 in pre-market trading after the company reported first-quarter financial results and issued second-quarter guidance below estimates.</li>
<li>Inspire Medical Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INSP#NYSE">INSP</a>) shares dipped 17.5% to $202.75 pre-market trading following first-quarter results.</li>
<li>Shoals Technologies Group, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHLS#NASDAQ">SHLS</a>) shares tumbled 15.8% to $7.41 in pre-market trading after the company reported worse-than-expected first-quarter sales results.</li>
<li>Upstart Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>) shares dipped 13.5% to $21.14 in pre-market trading after the company reported first-quarter financial results and issued second-quarter revenue guidance below estimates.</li>
<li>A-Mark Precious Metals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMRK#NASDAQ">AMRK</a>) shares fell 11.7% to $35.62 in pre-market trading following fiscal third quarter 2024 results.</li>
<li>OPKO Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPK#NASDAQ">OPK</a>) shares fell 10.7% to $1.16 in pre-market trading after the company reported worse-than-expected first-quarter financial results.</li>
<li>EyePoint Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EYPT#NASDAQ">EYPT</a>) shares fell 9.9% to $10.69 in pre-market trading after gaining 6% on Tuesday.</li>
<li>Integral Ad Science Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IAS#NASDAQ">IAS</a>) shares dipped 9.2% to $8.99 in pre-market trading.</li>
<li>Centrus Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEU#NYSE">LEU</a>) shares declined 8.6% to $40.49 pre-market trading following first-quarter results.</li>
<li>Twilio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) shares fell 6.7% to $59.13 in pre-market trading following first-quarter results.</li>
<li>Astera Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>) shares declined 6% to $71.66 in pre-market trading following first-quarter results.</li>
<li>Coupang, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPNG#NYSE">CPNG</a>) fell 5.8% to $22.27 in pre-market trading after the company reported mixed first-quarter financial results.</li>
<li>Sony Group Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) shares declined 4.1% to $78.33 in pre-market trading.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/05/38692469/tripadvisor-likely-to-report-lower-q1-earnings-here-are-the-recent-forecast-changes-from-wall-stree">TripAdvisor Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a>
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>

EYPT

Sony Group Corporation American Depositary Shares

SONY

Flywire Reports Q1 Loss, Joins ZoomInfo, Inspire Medical Systems And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

Guidance

Twilio Reaffirms Full Year 2024 Organic Revenue Growth Guidance Of 5%-10%

Twilio Sees Q2 Adj. EPS $0.64-$0.68 vs $0.62 Est., Revenue $1.05B-$1.06B vs $1.08B Est.

Twilio Sees FY24 Income From Operations $585M-$635M

Twilio Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) reported first-quarter financial results Tuesday after the bell. Here&#8217;s a <a href="https://www.benzinga.com/quote/TWLO">rundown of the report</a>.
Q1 Earnings Highlights: Twilio&#8217;s first-quarter revenue increased 4% year-over-year to $1.05 billion, which beat the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a> of $1.03 billion, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. The cloud-based customer engagement company reported quarterly earnings of 80 cents per share, which beat analyst estimates of 60 cents per share.
Communications revenue came in at $972 million, up 4% year-over-year. Segment (formerly Data &amp; Applications) revenue totaled $75 million, up 2% year-over-year.
Twilio said it had more than 313,000 active customer accounts as of March 31, up from 300,000 year-over-year. 
&#8220;We are operating with greater financial discipline, operational rigor, and focus on innovation than ever before. Our solid&nbsp;first quarter&nbsp;results build on the momentum that we&#8217;ve delivered over the last several quarters, demonstrating continued progress on profitability and significant free cash flow,&#8221; said Khozema Shipchandler, CEO of Twilio. 
&#8220;Moving forward, we&#8217;ll continue to drive further leverage, while also making focused investments that we expect will re-accelerate growth over time.&#8221;
Twilio&#8217;s board authorized a $1 billion buyback in February and an additional $2 billion to the program in March. Twilio said it has repurchased $1.5 billion worth of its shares and plans to complete the remaining $1.5 billion of repurchases before the end of 2024.
Outlook: Twilio expects second-quarter revenue to be between $1.05 billion and $1.06 billion. The company sees second-quarter adjusted earnings in the range of 64 cents to 68 cents per share. Twilio expects full-year 2024 revenue growth of 5% to 10%.
Management will hold a conference call to discuss these quarterly results at 5 p.m. ET.
Check This Out: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38677762/us-stocks-eye-fourth-positive-session-despite-hawkish-fed-remarks-disney-palantir-tumble-t">US Stocks Eye Fourth Positive Session Despite Hawkish Fed Remarks; Disney, Palantir Tumble; Treasury Yields Fall</a>
TWLO Price Action: <a href="https://www.benzinga.com/quote/TWLO" target="_blank" rel="noreferrer noopener">Twilio shares</a> were down 5.98% after hours at $59.58 at the time of writing, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock.

After-Hours Center

Twilio Q1 Earnings: Revenue Beat, EPS Beat, Buyback Update And More

Twilio shares are trading lower. The company reported Q1 financial results.

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Northland Securities analyst Michael Latimore maintained a Hold rating on Twilio (TWLO – Research Report) today and set a price target of $66.00. T...

Northland Securities Reaffirms Their Hold Rating on Twilio (TWLO)

Macquarie analyst Frederick Havemeyer has maintained their neutral stance on TWLO stock, giving a Hold rating today. Frederick Havemeyer has given ...

Twilio's Hold Rating: A Cautious Stance on a Long Road to Recovery

Biggest stock movers today: SHOP, UBER, LYFT, RIVN, TWLO, and more

MSGM, KIND among major communication services gainers; TWLO, CXDO among losers

Twilio: Reinvigorating The Business (Rating Upgrade)

In a report released today, Ryan MacWilliams from Barclays maintained a Hold rating on Twilio (TWLO – Research Report), with a price target of $70....

Barclays Sticks to Its Hold Rating for Twilio (TWLO)

Analysts have been eager to weigh in on the Communication Services sector with new ratings on Twilio (TWLO – Research Report), AutoHome (ATHM – Res...

Analysts Have Conflicting Sentiments on These Communication Services Companies: Twilio (TWLO), AutoHome (ATHM) and Match Group (MTCH)

AENT

ATHM

BODI

CXDO

GAME

KIND

MSGM

SCOR

SHEN

Press Releases

Twilio Concludes Operational Review of Segment Business and Announces $2 Billion Expansion of Share Repurchase Authorization

Twilio Launches Unified Profiles and Agent Copilot, Combining Customer Data and AI to Boost Productivity and Engagement

Twilio Appoints Andy Stafman to Board of Directors

Twilio Announces Retirement of Byron Deeter and Board Declassification

Anson Funds Comments on Recent Events at Twilio

New Twilio Study Points to Lack of Customer Data as Major Obstacle to Reaping AI Rewards

Twilio to Announce First Quarter 2024 Results on May 7, 2024

Twilio Appoints Chris Koehler Chief Marketing Officer

Twilio Announces First Quarter 2024 Results

Twilio to Participate in 52nd Annual J.P. Morgan Global Technology, Media and Communications Conference

Akamai Techs