U.S. stocks were trending higher on Friday, though they remained on track for weekly losses as investors digested market movements. The trading session followed a day of heavy selling, largely driven by broader fears about potential AI disruption across various sectors.
On the earnings front, Expedia Group reported fourth-quarter results that comfortably surpassed Wall Street’s expectations. The online travel company also provided an optimistic outlook, with its forecasts for first-quarter sales and gross bookings coming in stronger than analysts had predicted.
In contrast, shares of DraftKings sank significantly after the sports betting company issued revenue and profit guidance that fell short of what the market was hoping for. The company indicated that its conservative forecasts reflect plans for increased investment in its operations. Adding to the concerns, DraftKings also reported that a key metric, the number of monthly unique payers for the fourth quarter, missed analyst estimates.
