Shopify Drops 18.5%

Wall Street's lull stretched into a second day as US stocks drifted to a mixed close in a quiet Wednesday.

• The S&P 500 finished virtually unchanged after flipping between modest gains and losses through the day. It edged down by 0.03 points to 5,187.67.
• The Dow Jones Industrial Average rose 172.13 points, or 0.4%, to 39,056.39.
• The Nasdaq composite slipped 29.80, or 0.2%, to 16,302.76.

Uber Technologies slumped 5.7% after reporting worse results for the latest quarter than analysts expected. It also gave a forecasted range for bookings in the current quarter whose midpoint fell below analysts' expectations, the AP reports.

Shopify tumbled 18.5% despite reporting better profit and revenue for the latest quarter than analysts expected. The company, which helps businesses sell things online, said its revenue growth would likely slow this quarter and that it would likely make less profit. Match Group sank 5.4% despite topping profit expectations. The company behind Tinder, Hinge, and other apps gave a forecast for revenue in the current quarter that fell short of analysts' predictions. It said its efforts to make Tinder better for women and Gen Z customers in particular have hurt some performance measurements in the short term. Intel fell 2.2% after saying the US Commerce Department revoked licenses for exports to a Chinese customer.

On the winning side, Lyft revved 7.1% higher after topping expectations for profit and revenue. It said growth was particularly strong for early-morning, commute, and weekend-evening trips. Reddit, another winner, rose 4.1% after delivering its first quarterly report as a publicly traded company. It reported a milder loss and better revenue than expected, while also giving a stronger-than-expected forecast for revenue in the current quarter. Arista Networks climbed 6.5% for one of the biggest gains in the S&P 500 after topping expectations for both profit and revenue.

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