Yahoo Finance Trending tickers: Google, Coinbase, Abrdn, Workday
The latest investor updates on stocks that are trending on Tuesday
Google (GOOG)
Google's shares swooned as the day closed out in the US on Monday, after Melius Research analyst Ben Reitzes warned about the company's direction in AI, reiterating his "hold" rating on the stock.
Stock was down 4.5% by the end of the day, erasing more than a week of gains. It looks set to stage a small comeback when markets open later on.
The tech firm on Wednesday announced a new tier of its AI-capable enterprise productivity suite Gemini for Workspace. The move is another strike at rival Microsoft (MSFT) as the pair continue to battle for customers in the generative AI era.
Read more: FTSE 100 LIVE: European markets higher as UK chancellor warned on tax cut plans
Google’s new offering, known as Gemini Business, is an add-on for its Workspace suite of products which includes Gmail, Docs, Meet, Sheets, and Slides. At $20 per user per month, the Gemini for Business is $10 cheaper than Google’s existing Gemini Enterprise and Microsoft’s Copilot for Microsoft 365.
Coinbase (COIN)
Crypto exchange Coinbase saw its stock rise 16.9% yesterday, and was trading around 5% higher in premarket on Tuesday off the back of gains seen in Bitcoin (BTC-USD), the world's biggest cryptocurrency by market cap.
Miners Marathon (MARA) and crypto software company Microstrategy (MSTR) were also on the up.
Read more: Crypto live prices
Sentiment has been buoyed by money flowing into spot bitcoin ETFs, with trading volumes reaching new all-time highs. Bloomberg ETF analysts said Monday saw $2.4bn (£1.89bn) in volume.
Abrdn (ABDN.L)
Aberdeen stock briefly surged in London on Tuesday despite warnings of pressure on its margins amid a shift by its clients away from actively managed funds.
Shares were as much as 6% higher following a report that beat analyst forecasts. The jump also followed plans to cut 500 roles which were laid out in January.
The company's CEO Stephen Bird is attempting to stem the outflow of client cash, which amounted to £13.9bn in 2023 compared with £10.3bn a year earlier. The company will also look to reduce its range of funds and expand into mass-market investing.
Read more: Stocks that are trending today
Bird also dismissed speculation the company could be broken up amid the exodus.
Abrdn reported adjusted operating profit of £249m ($316m), down 5% from £263m the previous year — ahead of analyst forecasts.
Workday (WDAY)
HR management software company Workday was trading 6.7% lower in premarket on Tuesday, following its Q4 earnings report.
Despite its better-than-expected earnings for the three months to December, the company held its outlook for 2025, citing macro concerns.
Workday's revenue for the fourth quarter stood at $1.9bn, in line with market expectations.
The company said it expects subscription revenue of $7.7bn to $7.8bn, up 17% to 18%, next financial year.
It has also agreed to acquire AI-powered talent software company HiredScore for an undisclosed amount.
"We've only just begun to see the opportunities of what is possible with responsible AI in the workforce, and how organizations can use it more efficiently and effectively to deliver on HR transformation goals related to recruiting and employee experiences," said Athena Karp, HiredScore founder and CEO.
Watch: Bitcoin tops $57,000 as big buyers circle
Download the Yahoo Finance app, available for Apple and Android.
