Biggest stock movers today: AVGO, PATH, and more

Ahead of the highly anticipated jobs data, stock futures extended their downward trend Friday morning as investors sought to gauge the potential impact on Federal Reserve monetary policy.

Here are some of Friday’s biggest stock movers:

Biggest stock gainers

• UiPath (NYSE:PATH) shares surged 10% after posting FQ2 results that exceeded market expectations. For FQ3, the company forecasts revenue between $345M and $350M, with a midpoint of $347.5M, aligning with the consensus of $347.51M. UiPath projects FY2025 revenue between $1.42B and $1.425B, surpassing the consensus of $1.41B. In a strategic move, the company announced that Ashim Gupta would be assuming the expanded role of Chief Operating Officer in addition to his current responsibilities as Chief Financial Officer. To bolster shareholder value, UiPath’s board of directors authorized a $500M share repurchase program.

Biggest stock losers

• Broadcom (NASDAQ:AVGO) shares plunged nearly 7% even though the company outperformed expectations in its FQ3 earnings report. Investors reacted negatively to a weaker Q4 outlook, with Broadcom forecasting $14B in revenue, slightly below the $14.13B consensus estimate. The company also expects adjusted EBITDA to be about 64% of its revenue.
• Planet Labs (NYSE:PL) shares plummeted over 13% following the release of disappointing FQ2 results and outlook. For FQ3, the company projects revenue between $61M and $64M, falling short of consensus of $64.16M. Additionally, Planet Labs anticipates an adjusted EBITDA loss of $2M-5M for the quarter. Despite this setback, the company ended the quarter with a healthy cash balance of $249M. Planet Labs remains committed to achieving adjusted EBITDA profitability by the end of the current fiscal year.