Closing Bell: Akami Misses Expectations, Deere Soars, Klarna Tumbles

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

On this episode of Stock Movers:

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.

- Akami Technologies (AKAM) shares are down 7% in extended trading, after the software company gave an outlook for adjusted earnings that is weaker than expected for both the first quarter and the full year.

- Deere (DEER) shares climbed the most in six years as the world’s largest farm-machinery maker boosted its annual profit outlook, anticipating a long-awaited upturn in the agriculture economy. Deere shares rose as much as 13%, the most intraday since March 2020, to an all-time high. The stock, one of the biggest gainers in the S&P 500 on Thursday, has rallied 44% this year on increased hopes for a recovery.

- Klarna (KLAR) has reported two consecutive quarters of losses and is struggling to convince investors to hold on for future profit, less than six month after its initial public offering. Shares in the payments firm are on course for their worst day since listing after Klarna reported a pretax loss of $241 million for last year, even as it pulled in record revenue. As the Stockholm-headquartered firm has expanded beyond its original buy-now-pay-later product into more lucrative longer-term credit, it’s had to set aside more money for potentially souring loans. Klarna has also increased its spending on technology, product development and marketing. In 2024, the firm reeled in a pretax profit of $33 million.

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