DoorDash is a technology-driven food delivery service that connects customers with local restaurants and food providers through its user-friendly platform. It enables users to browse menus, place orders, and have meals delivered to their doorstep swiftly and conveniently. Founded to support local businesses and enhance the dining experience, DoorDash offers a wide range of delivery options, meeting diverse consumer preferences while also providing services like grocery delivery and convenience items. The company focuses on expanding its network of partners and enhancing logistics to improve delivery efficiency and customer satisfaction. Read More
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Stay updated with the movements of the S&P500 index one hour before the close of the markets on Friday. Discover which stocks are leading as top gainers and losers in today's session.
Shares of on-demand food delivery service DoorDash (NYSE:DASH)
jumped 5.6% in the morning session after it announced a new on-demand delivery partnership with apparel retailer Old Navy.
Stay informed about the performance of the S&P500 index in the middle of the day on Friday. Uncover the top gainers and losers in today's session for valuable insights.
Investors stepped back into beaten-down tech names Friday, with the Nasdaq 100 rising 0.6% by midday in New York, staging a modest rebound after Thursday's sharp selloff.
DoorDash shares are trading higher Friday morning after Needham reiterated a Buy rating on the stock, arguing that the market's reaction to the company's recent earnings report was excessive.
DoorDash, Inc. (Nasdaq: DASH), a global leader in local commerce, and Old Navy, a global apparel and accessories retailer, today announced a partnership that makes it easier than ever for consumers to shop the styles they love on-demand, just in time for the holidays. Shoppers nationwide can now get their favorites for the whole family, including denim, activewear, and Jingle Jammies, delivered to their doors through DoorDash. The partnership expands Old Navy’s omnichannel reach, delivering on-trend style and value with ease and accessibility. From family matching to the latest trends (and everything in between!), Old Navy style is now just a tap away.
DoorDash’s third quarter results led to a significant market pullback, with management highlighting the company’s ongoing investments in technology and new product initiatives as core drivers of performance. CEO Tony Xu pointed to strong order growth and improving unit economics, which allowed DoorDash to reinvest in its business. However, higher spending on platform development and new verticals, along with incremental costs related to acquisitions, contributed to earnings per share falling short of Wall Street expectations. Management acknowledged these tradeoffs, emphasizing the long-term benefits of reinvestment and the need to maintain a disciplined approach to capital allocation.
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