On this episode of Stock Movers:
- DataDog (DDOG) shares surged by the most in more than six years after the software developer raised its full-year outlook for sales and earnings. Revenue is now expected to total $4.3 billion to $4.34 billion, above analysts’ estimates of $4.09 billion on average. Datadog Chief Executive Officer Olivier Pomel said the company is "aggressively building with and for AI", and has signed deals with "two of the world’s biggest AI research teams" to help them with their training workflows.
- Blue Owl (OWL) shares drop. This comes as Blue Owl Capital is preparing to launch a debut credit secondaries strategy and is in early-stage talks with prospective investors for the fund, according to a person familiar with the matter. The private credit-secondary market allows investors to buy or sell stakes in private-asset funds, often at a discount, and the volume of secondaries transactions nearly doubled last year.
- Shake Shack (SHAK) shares plummeted after the burger chain reported first-quarter revenue that missed expectations due to pressures including rising beef costs and inclement weather. The company reported revenue of $366.7 million, below the analyst estimate for $372.5 million, and comparable sales growth of 4.6% was roughly in line with expectations.
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