Thursday’s market recap: Several stocks jump on impressive quarterly results, Alibaba dips 10%, and Dicerna is merging with Novo Nordisk

19 November 2021 By

JD, Nvidia, and Intuit top quarterly revenue estimates
Alibaba drops 10% after releasing Q3 2021 results
Dicerna Pharmaceutical surges 80% on a merger announcement

Different companies reported quarterly earnings on Thursday, and for some, that topped estimates that triggered stock jump.

Nvidia up 8% impressive revenue results

Nvidia Corp (NASDAQ: NVDA) shares jumped 8% after the company reported Q3 results that beat analysts’ expectations. The company reported a 50% YoY revenue increase to $7.1 billion, surpassing estimates by $290 million. In addition, impressive gaming and data center revenues boosted the company’s total revenue. Data Centre revenue grew 55% to $2.94 billion while gaming revenue was up 42% YoY to $3.22 billion. As a result, Nvidia reported Non-GAAP EPS of $1.17 whole GAAP EPS was $0.97.

JD top analyst revenue estimates

Shares of JD.Com Inc. (NYSE: JD) jumped 5% on Thursday after the company reported fiscal Q3 revenue and earnings that topped analyst estimates. Revenue during the quarter was up 25.5% YoY to $33.9 billion, beating estimates by $360 million. On the other hand, the company had a non-GAAP EPS of $0.49 per share while GAAP EPS loss was $0.28, missing estimates of a loss of $0.16 per share.

Intuit’s acquisition Credit Karma helps its top revenue results

Intuit Inc. (NASDAQ: INTU) stock was up 10% after hours on Thursday after posting solid fiscal Q1 2022 results thanks to record revenue from its 2020 acquisition, Credit Karma. The company had a profit of $228 million or $0.82 per share compared to a profit of $198 million or $0.75 per share a year ago. In addition, Intuit reported revenue of $2 billion, representing an annual growth of 50%.

Alibaba reports YoY revenue growth of 29%

Alibaba Group Holding Ltd (NYSE: BABA) shares dropped 10% after the company reported its Q3 2021. The Chinese e-commerce giant recorded a 29% YoY thanks to the performance of its diversified business. The company’s yearly active consumers across its ecosystem hit 1.24 billion after adding 62 million customers. The community Marketplaces segment has been expanding its coverage and growing rapidly in low-tier cities. Alibaba’s cloud computing revenue was up 33% YoY to around $3.1 million.

Novo Nordisk to acquire Dicerna Pharmaceuticals

Dicerna Pharmaceuticals (NASDAQ: DRNA) shares jumped 80% after announcing that Novo Nordisk is purchasing the RNAi therapeutics biopharmaceutical company for $3.3 billion. Novo Nordisk’s Board of Directors unanimously approved the transaction. The companies have been working together on RNAi therapeutics research since 2019. The company’s RNAi tech enables access to intracellular disease targets across hepatic and extrahepatic cells and tissues.