Market Overview - U.S. stock futures declined on Thursday after a higher close on Wednesday, with all major benchmark indices showing lower futures [1] - Traders are analyzing the Federal Reserve's January meeting minutes, revealing significant disagreements among officials regarding future interest rates [1] - Despite discussions of potential rate increases to combat inflation, market participants expect two rate reductions by year-end [1][2] Economic Indicators - The 10-year Treasury bond yielded 4.10%, while the two-year bond was at 3.47% [2] - The CME Group's FedWatch tool indicates a 94% likelihood of the Federal Reserve maintaining current interest rates in March [2] Stock Performance - Dow Jones decreased by 0.12%, S&P 500 by 0.08%, Nasdaq 100 by 0.08%, and Russell 2000 by 0.24% [2] - DoorDash (DASH) shows a weaker price trend across all time frames despite a solid growth ranking [2] - eBay (EBAY) has a stronger price trend in the short and medium terms but a weak long-term trend with a moderate quality ranking [3] - Lockheed Martin (LMT) maintains a strong price trend across all time frames but has a poor value ranking [4] - Interactive Strength Inc. (TRNR) gained 12.47% after acquiring Ergatta, Inc., but maintains a weaker price trend overall [6] - Walmart (WMT) fell by 1.50% as analysts anticipate quarterly earnings of 73 cents per share on revenue of $190.43 billion [6] Sector Insights - Consumer discretionary, energy, and information technology stocks led gains in the S&P 500 on Wednesday, while real estate and utilities sectors declined [7] Analyst Insights - Jeremy Siegel expresses a positive outlook on the U.S. economy, suggesting recent data supports a bull market expansion rather than a derailment [8] - He identifies a "sweet spot" in the labor market, with jobless claims indicating resilience and a near-2% annual gain in weekly pay improving consumer purchasing power [8][9] - Siegel argues that cooling inflation and rising real income provide the Federal Reserve with room to lower interest rates [9] - He views market volatility due to "AI-driven disruption fears" as a typical reaction to technological changes, which he believes will ultimately enhance productivity and real incomes [9][10] - Siegel sees valuation support in the ongoing healthy market rotation towards non-tech sectors trading at reasonable multiples [10]

Market Overview - Major U.S. indices closed higher, with the Dow Jones Industrial Average rising 0.26% to 49,662.66, the S&P 500 advancing 0.56% to 6,881.31, and the Nasdaq climbing 0.78% to 22,753.63 [1] Carvana Co. (NYSE:CVNA) - Carvana shares rose 3.02% to close at $361.53, with an intraday high of $366.26 and a low of $339.15; however, the stock crashed nearly 15% to $307.70 in after-hours trading [1] - Carvana reported strong fourth-quarter results, with revenue rising 58% year-over-year to $5.60 billion, exceeding the $5.26 billion consensus estimate, and sold 163,522 vehicles, up 43% from a year ago [2] - Adjusted EBITDA reached $511 million with a 9.1% margin, reflecting improved unit economics despite a sequential dip in profitability [2] Figma Inc. (NYSE:FIG) - Figma shares rallied in extended trading after delivering strong fourth-quarter results, reporting EPS of 8 cents, surpassing the 7-cent estimate, and revenue rose to $303.78 million from $216.95 million a year earlier, ahead of the $293.15 million consensus [3] - Looking ahead, Figma guided first-quarter revenue of $315 million to $317 million, well above estimates, and projected full-year fiscal 2026 revenue of $1.37 billion to $1.374 billion, reinforcing confidence in continued growth [4] DoorDash Inc. (NASDAQ:DASH) - DoorDash posted EPS of 48 cents, below the 60-cent consensus, while revenue of $3.96 billion came in just shy of the $3.99 billion estimate, though significantly up from $2.87 billion a year ago [5] - For the first quarter, DoorDash expects marketplace GOV between $31 billion and $31.8 billion and adjusted EBITDA of $675 million to $775 million, as investors weigh continued growth against the earnings miss [5] Occidental Petroleum Corporation (NYSE:OXY) - Occidental Petroleum shares rose 2.55% to $47.11, with an intraday high of $47.43 and a low of $46.26; in after-hours trading, the stock rose 2.95% to $48.50 [6] Rackspace Technology Inc (NASDAQ:RXT) - Rackspace announced a strategic partnership with Palantir Technologies, leading to a dramatic rally as the company aims to enhance its deployment of Palantir's Foundry and AI Platform [7]

Core Insights - DoorDash is positioning itself as a technology and infrastructure partner for local commerce, moving beyond meal delivery to own the software and logistics stack [1][2] - The company aims to maximize long-term free cash flow and sees its acquisition of Deliveroo as a key part of this strategy, with Deliveroo expected to contribute approximately $200 million in EBITDA this year [2][9] - DoorDash is evolving into a broader commerce platform that integrates software, advertising, fulfillment, and autonomy to empower local businesses against larger digital competitors [10] Financial Performance - In the fourth quarter, DoorDash reported a revenue increase of 38% year over year, reaching $3.955 billion, with a GAAP net income of $213 million and adjusted EBITDA of $780 million [9] - For the full year, the company achieved total revenue of $13.7 billion and net income attributable to common stockholders of $935 million [9] - Management anticipates a slight increase in adjusted EBITDA margin for 2026 compared to 2025, excluding Deliveroo [9] Strategic Initiatives - The company is investing in SevenRooms, a guest experience and customer relationship management platform, to enhance merchant relationships by combining software with consumer demand [3] - DoorDash is advancing its in-house advertising technology platform, Symbiosys, which allows restaurants and retailers to purchase sponsored placements, contributing to the scaling of its ads business alongside core order growth [4] - The logistics strategy includes a "mixed fleet" model where independent contractors (Dashers) will work alongside autonomous vehicles, optimizing delivery assignments based on complexity and distance [8]

CFO Ravi Inukonda said his expectations for full-year 2026 EBITDA have not changed since the prior call. He said DoorDash expects 2026 EBITDA margin to be “up slightly compared to 2025, excluding Deliveroo,” and reiterated that Deliveroo is expected to produce about $200 million of EBITDA for the year.More broadly, Xu said the company’s business outside the U.S. is growing faster than in the U.S.—which he noted had “two of the fastest-growing quarters in 2025 in the last four years”—and that DoorDash is con ...

Core Insights - DoorDash CEO Tony Xu emphasizes that the company's grocery offering has a competitive edge over Amazon due to the variety of choices available to consumers [1][2] - DoorDash collaborates with existing grocery chains rather than owning its own brands, which allows it to provide a wider selection of products [2] - The company is expanding its services to retailers, including fulfillment through DashMarts, to help grocers compete with Amazon [4] Company Strategy - DoorDash has expanded partnerships with grocery chains, including Kroger and regional players like Schnucks, to enhance its grocery delivery service [2] - The company is focusing on fulfilling both small and large grocery orders, which is beneficial for grocers as they earn more from a diverse range of products [5] - DoorDash aims to make its retail and grocery business unit-economic positive by the second half of 2026, indicating a strategic focus on profitability [6] Market Position - Despite disappointing fourth-quarter earnings, DoorDash shares rose by as much as 14% in after-market trading, reflecting investor confidence in its grocery strategy [4] - The grocery delivery market is competitive, with Amazon expanding its same- and next-day delivery services, which has impacted shares of DoorDash and Instacart [1]

分组1 - DoorDash reported quarterly earnings of $0.48 per share, missing the Zacks Consensus Estimate of $0.58 per share, but showing an increase from $0.33 per share a year ago, resulting in an earnings surprise of -17.24% [1] - The company posted revenues of $3.96 billion for the quarter ended December 2025, which was below the Zacks Consensus Estimate by 0.37%, and an increase from $2.87 billion year-over-year [2] - Over the last four quarters, DoorDash has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] 分组2 - DoorDash shares have declined approximately 28.3% since the beginning of the year, contrasting with the S&P 500's zero return [3] - The current consensus EPS estimate for the upcoming quarter is $0.63 on revenues of $4.12 billion, and for the current fiscal year, it is $3.14 on revenues of $17.82 billion [7] - The Zacks Industry Rank indicates that the Internet - Services sector is currently in the bottom 34% of over 250 Zacks industries, suggesting potential challenges for stock performance [8]

DoorDash (NasdaqGS:DASH) Q4 2025 Earnings call February 18, 2026 05:00 PM ET Company ParticipantsAndrew Boone - Managing DirectorEric Sheridan - Managing DirectorJosh Beck - Managing DirectorJustin Patterson - Managing Director of Equity ResearchJustin Post - Managing DirectorLee Horowitz - Co-Head of Internet Equity ResearchMark Mahaney - Senior Managing DirectorRavi Inukonda - CFOShweta Khajuria - Managing Director of Global InternetTony Xu - Co-Founder, Chairman, and CEOWeston Twigg - Head of Finance and ...

DoorDash (NasdaqGS:DASH) Q4 2025 Earnings call February 18, 2026 05:00 PM ET Company ParticipantsAndrew Boone - Managing DirectorEric Sheridan - Managing DirectorJosh Beck - Managing DirectorJustin Patterson - Managing Director of Equity ResearchJustin Post - Managing DirectorLee Horowitz - Co-Head of Internet Equity ResearchMark Mahaney - Senior Managing DirectorRavi Inukonda - CFOShweta Khajuria - Managing Director of Global InternetTony Xu - Co-Founder, Chairman, and CEOWeston Twigg - Head of Finance and ...

DoorDash (NasdaqGS:DASH) Q4 2025 Earnings call February 18, 2026 05:00 PM ET Speaker13Hello, everyone. Thank you for joining us, and welcome to the DoorDash Q4 2025 earnings call. After today's opening statement, we will host a question and answer session. If you would like to ask a question, please press star one on your telephone keypad. To withdraw your question, please press star one again. I will now hand the call over to Weston Twigg. Please go ahead.Speaker18All right. Thanks, Elizabeth. Good afterno ...

DoorDash (DASH) reported fourth quarter results that slightly missed Wall Street's expectations on the top and bottom lines, while total orders rose more than forecast. Earnings per share came in at $0.48, compared with the $0.55 the Street had forecast. But adjusted EBITDA reached $780 million in the quarter — up 38% compared to a year ago and almost $5 million above the Street's estimates. Meanwhile, revenue grew 28% year over year to $3.96 billion, a tick lower than the nearly $4 billion Wall Street p ...