Wall Street Rollercoaster Today's Biggest Stock Market Shocks and Surprises

Burger King's Have It Your Way Earnings

Alright alright alright let's talk about Burger King because apparently everyone's still craving those flame broiled patties. Restaurant Brands the overlords of BK Tim Hortons and Popeyes absolutely crushed earnings expectations. We're talking 96 cents a share when the so called experts predicted 95. A penny people. A SINGLE PENNY. That's all it takes to send the stock up 1.3%. The revenue also beat estimates coming in at $2.47 billion. Guess people still want their Whoppers. So next time someone tells you fast food is dead just remember Burger King's earnings. They're not asking the real questions are they?

QuantumScape's Battery Blues and Big Losses

Now let's shift gears to something less appetizing: QuantumScape. These guys are trying to revolutionize batteries which is cool and all but their stock is getting absolutely hammered down 9.3%. They lost 17 cents per share which okay analysts expected but their guidance for the year is… not great. An adjusted EBITDA loss of $250 million to $275 million. Ouch. They are developing solid state lithium metal battery technology which requires considerable investments. It's a tough business batteries. Hey speaking of future tech have you seen Nintendo's Switch 2 Sales Forecast Holds Firm Defying Pessimistic Predictions? That's some serious next gen stuff. Nintendo needs great batteries for their next console.

Cisco's Mixed Bag of Wires and Woes

Cisco the networking giant had a bit of a rollercoaster day. Their stock tanked about 7% after they posted a non GAAP gross margin that was below expectations. 67.5% versus the 68.1% predicted. What's going on here. It’s a classic case of "expectations." They beat earnings and revenue estimates but the market is a fickle beast. The stock had been up 11% this year so far so maybe it was just due for a correction. Still gross margin miss is never a good look regardless if the expectations were exceeded on the top and bottom lines.

Fastly's Cloud Surfing Bonanza

Alright this is more like it. Fastly a cloud computing company is absolutely soaring up a whopping 44%. Why? Well they crushed earnings posting 12 cents a share when analysts expected 6. And their revenue guidance for the year is way above expectations. $700 million to $720 million versus the $668 million that Wall Street was predicting. It's a classic "beat and raise," and the market is rewarding them handsomely. Good for them. Now if only I had bought some Fastly stock before this happened.

Rollins Gets Bugged Out

Rollins the pest control company got absolutely smoked down 13%. They missed earnings and revenue estimates posting 24 cents a share when the expectation was 26 and $912.9 million in revenue versus the $926.8 million expected. Turns out people weren't all that interested in pest control this quarter. Bad news for them.

Memory Lane Runs Green

Shares of memory storage stocks were up more than 6% and about 3% respectively. Micron Technology and Western Digital gained more than 3% each. The moves also come after Cisco pointed to rising memory costs in its latest earnings results which could weigh on its profits moving forward. So it appears that memory is going to be a great investment. That's about it.