DraftKings, Expedia Sink; Applied Materials Surges

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

- DraftKings (DKNG) stocks fell after the online betting company issued a 2026 forecast for sales and profit that fell short of Wall Street estimates, sending the stock tumbling to its largest intraday drop in nearly three-and-a-half years. The stocks of online betting companies including DraftKings and Flutter Entertainment Plc have fallen in recent months on investor concerns over the competitive threat posed by prediction markets.

- Expedia (EXPE) shares sank after fears around AI disruption have created a dramatic divide in the travel and leisure sector, with the stocks of online-booking platforms collapsing while traditional hotel operators have rallied.

- Applied Materials (AMAT) shares surged to a record after the company delivered a surprisingly upbeat sales forecast, signaling that demand for artificial intelligence and memory semiconductors is fueling equipment purchases. The company, which is the largest US supplier of chipmaking gear, expects revenue of approximately $7.65 billion in the fiscal second quarter. Analysts had estimated $7.03 billion on average for the period, which runs through April.

See omnystudio.com/listener for privacy information.