:max_bytes(150000):strip_icc()/GettyImages-1574595349-be47fb85a4fa42bebe677a100410d5ab.jpg "Warner Bros. Discovery, Block, Booking Holdings, and More")
Key Takeaways
- The S&P 500 was up at midday Friday, Feb. 23, 2024, though it pared back some gains after reaching a record high earlier in the session.
- Warner Bros. Discovery shares dropped as the entertainment giant’s ad revenue slowed.
- Block shares surged on the payments fintech’s better-than-expected results and outlook.
The S&P 500 was up at midday Friday, though it pared back some gains after reaching a record high earlier in the session as the tech-fueled rally slowed. The Dow advanced, while the Nasdaq was little changed.
Block (SQ) shares jumped after the payments fintech posted a surprise quarterly profit and better-than-expected guidance on expectations of growth in its Cash App business and cost-cutting measures.
Live Nation Entertainment (LYV) shares gained as the parent of Ticketmaster posted better-than-expected revenue on a rise in shows and concert attendance.
Shares of VICI Properties (VICI) also climbed after the real estate investment trust (REIT) beat profit and sales forecasts as it benefited from focused capital expenditures.
Warner Bros. Discovery (WBD) shares sank as earnings and revenue at the entertainment giant missed estimates on falling advertising revenue. Shares of rival streaming services were lower as well.
Shares of Booking Holdings (BKNG) slumped after the online travel site warned that fighting in Gaza and currency fluctuations could negatively impact reservations and gross bookings.
EOG Resources (EOG) shares slipped as falling oil prices cut into the energy producer’s profits.
Oil futures were down and gold prices rose. The yield on the 10-year Treasury note dropped. The U.S. dollar advanced against the euro, but lost ground to the pound and yen. Most major cryptocurrencies traded lower.
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