Shares of Monday.com (MNDY) are declining after the company’s revenue outlook fell in line with estimates despite beating fourth-quarter earnings expectations.
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Editor’s note: This article was written by Angel Smith
BRAD SMITH: We’re about 30 minutes into the trading day. Let’s take a look at how things are shaping up right now. Stocks taking a breather this morning. Flat after the S&P 500 closed above 5,000 for the first time ever. Investors, also, awaiting key inflation data. That’s coming Tuesday.
RACHELLE AKUFFO: That’s right. And also taking a look at some individual trending tickers. Shares of task management software company, monday.com, sinking today, as its revenue outlook comes just in line with analysts’ expectations. Not enough to impress investors, though.
The company did beat estimates on its top and bottom line in its fourth quarter driven by a boost in prices.
BRAD SMITH: And Rivian stock falling after getting a downgrade from Barclays driven by weakening demand in the electric vehicle market. The analysts praising Rivian’s vehicles, but warned that EV pressure in sales could lead to weaker pricing and bigger losses for a company like Rivian that still needs to raise capital.
RACHELLE AKUFFO: And Joby shares climbing higher today after announcing its air taxi service could be coming to Dubai by early 2026. The company signing an agreement with Dubai’s government giving them exclusive rights to operate air taxis in Dubai for six years.