Dow Jones Update: Stock Market Gains; Focus on Ford and Snap Earnings

Fortinet Inc. (FTNT): Shares of the cybersecurity firm surged over 8% after surpassing Wall Street estimates for quarterly earnings and billings.

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Ford Motor Co. (F): The carmaker's shares rose more than 5% as it outperformed earnings estimates and projected a favorable outlook for 2024.

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Warner Bros. Discovery (WBD): Shares of the entertainment company increased by more than 3% following the announcement of a collaboration with Disney’s ESPN (DIS) and Fox (FOXA) to launch a sports streaming service. Disney shares were down about 1% in premarket trading, while Fox gained nearly 5%.

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Snap Inc. (SNAP): Shares of the social media company plummeted by 30% after reporting lower-than-expected fourth-quarter revenue, attributing challenges to the conflict in the Middle East.

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Alibaba Group Holding Ltd. (BABA): American depositary receipts of the Chinese e-commerce giant slid over 4% after falling short of expectations for fourth-quarter sales.

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Uber Technologies Inc. (UBER): Shares of the ride-hailing software company declined by 2%, despite exceeding expectations on the top and bottom lines in its quarterly report. The stock's price had doubled in the 12 months leading up to Wednesday’s results.

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