Diamonds and Dogs
Upstart Holdings (UPST) having a good day. The AI lending platform is jumping 35% after issuing upbeat revenue outlook for its fiscal second quarter, saying it would break even on adjusted earnings before interest, taxes, depreciation, and amortization in the period. The company also said it secured multiple long-term funding agreements that "together expected to deliver more than $2 billion to the Upstart platform over the next 12 months.
A record quarter didn't help Airbnb (ABNB). The rental platform stock is down 9% following better than expected earnings. Sales grew 20% to $1.8 billion. Executives said travel demand remains elevated in early 2023, but cautious guidance has investors concerned about a pending recession.
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