ASX lifts after jobs report boosts Wall Street

Equinix jumped 11.5 per cent after reporting stronger profit for the latest quarter than analysts expected. The company, which runs data centres around the world, also said an independent investigation led by its board found no accounting inconsistencies or errors that would require financial restatements. Earlier, an investment firm had accused it of “major accounting manipulation.”

Yeti Holdings rose 12.8 per cent after reporting better profit for the latest quarter than expected thanks to stronger sales for its drinkware and coolers and equipment. It also raised its forecast for full-year earnings per share. Like other companies, it’s ploughing cash into buying back its own stock, which boosts per-share profit for existing investors.

Cheesecake Factory gained 6.2 per cent after topping expectations for profit. The results were encouraging following some recent warnings by big food and drink companies about how much pressure their customers, particularly lower-income ones, are feeling.

Airbnb sank 6.9 per cent despite topping expectations for profit and revenue. It gave a forecasted range for revenue in the current quarter whose midpoint fell short of what analysts expected. It said an earlier Easter pulled more of its business this year into the first quarter from the second quarter.

Beyond Meat, the maker of plant-based meat substitutes, fell 14.4 per cent after it posted a much worse loss than analysts expected as demand continued to crater.

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In the bond market, the yield on the 10-year Treasury eased to 4.45 per cent from 4.50 per cent late Wednesday. The two-year yield, which more closely tracks expectations for the Fed, slipped to 4.81 per cent from 4.84 per cent late Wednesday.

A smooth auction of 30-year Treasury bonds helped to keep yields stable.

With AP

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