Snap Surges, DoorDash Plunges, Qualcomm Gives Upbeat Forecast

On this episode of Stock Movers:

- Snap (SNAP) shares surged more than 25% in extended trading after the company announced a $400 million partnership with Perplexity AI Inc. to incorporate its AI-powered search engine into Snapchat. The deal gives Snap a new business line and puts the social messaging company more squarely into the mix around AI chatbots and assistants. Perplexity’s answer-engine will be integrated into Snapchat’s Chat interface beginning in 2026, according to Snap Chief Executive Officer Evan Spiegel, though the company’s existing My AI chatbot will also be available to users.

- DoorDash (DASH) shares plunged in extended trading after the US food-delivery app leader said it will spend more on investments next year to build new products and bolster internal tools, weighing on its earnings forecast. Shares of DoorDash plunged as much as 20% in late trading after the report, before paring some of the losses. The stock has been up 42% so far this year through Wednesday’s close at $238.

- Qualcomm (QCOM) the largest maker of smartphone processors, gave a bullish revenue forecast for the current period, though a US tax change took a toll on profit last quarter.Sales will be roughly $12.2 billion in the fiscal first quarter, which runs through December, the company said in a statement Wednesday. Profit will be about $3.40 a share, minus certain items. Analysts had estimated revenue of $11.6 billion and earnings of $3.26 a share. Qualcomm shares fell about 3% in extended trading following the announcement. The stock had rallied in recent weeks, which may have made it harder for the report to impress investors.

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