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News
Thursday, February 19, 2026
What’s happening: Shares of DoorDash surged in after-hours trading on Wednesday following the release of its fourth-quarter results.
What happened: The food delivery company reported weaker-than-expected sales and earnings for the latest quarter.
However, DoorDash issued a strong forecast for marketplace GOV (gross order value), providing a boost to the stock.
How were the results: The San Francisco, California-based company reported around 38% year-over-year sales growth for the latest quarter.
Why it matters: DoorDash has been benefiting from steady customer demand. Total orders jumped 32% year-over-year to 903 million, while marketplace GOV grew by 39% to $29.7 billion in the quarter, topping estimates of $27.65 billion.
The company completed its acquisition of Deliveroo in October. While this contributed to the strong growth in total orders, investments in the British online food delivery platform impacted DoorDash’s bottom line. Profitability was also affected by higher costs per order.
DoorDash guided to first-quarter marketplace GOV of $31-$31.8 billion, higher than market estimates of $29.61 billion.
DoorDash said it is looking to rebuild its technology system to move its brands (Wolt, DoorDash and Deliveroo) to a single stack. Investments in this technology are also expected to impact the company’s profits ahead.
The company guided to adjusted EBITDA of $675-$775 million for the current quarter, below market expectations of $798.22 million.
How shares responded: DoorDash’s shares jumped 14.1% to $197.85 in the extended trading hours, reversing losses before the release of quarterly earnings. The stock has lost around 16% over the past month.
What to watch: Investors will continue monitoring rising competition in the online food delivery market, with options like Instacart and Uber Eats building up partnerships and increasing promotions to gain market share.
Context: The AUD/USD forex pair gained this morning following the release of strong jobs data.
Details: Data released this morning showed that employment in Australia rose by 17,800 to a new high of 14.70 million in January, after a surge of 68,500 in the previous month. While the figure was strong, it missed market estimates of 20,000.
The latest reading signalled growth in employment for the second month in a row, with full-time employment rising by 50,500 to 10.16 million. The total reading was impacted by a decline in part-time employment of 32,700 to 4.55 million.
Australia’s unemployment rate came in unchanged from the previous month at 4.1% in January and missed market expectations of 4.2%, indicating continued resilience in the labour market.
Upbeat data triggered speculations of an interest rate hike by the Reserve Bank of Australia. Markets widely expect the RBA to hike its benchmark rate in May.
Weakness in the US dollar lent further support to the AUD/USD forex pair this morning. The US dollar index, which measures the greenback’s performance versus a basket of major peers, slipped to 97.69.
The AUD/USD pair gained 0.4% to trade at 0.7071 this morning, while the S&P/ASX 200 jumped around 1% to 9,096.10.
What to watch: Investors await the release of data on S&P Global manufacturing PMI (0200 UAE Time), S&P Global services PMI (0200 UAE Time) and S&P Global composite PMI (0200 UAE Time) from Australia on Friday. The S&P Global manufacturing PMI, which was revised lower to 52.3 in January from a preliminary reading of 52.4, is expected to rise to 52.6 in February.
Analysts expect the S&P Global services PMI Business Activity Index to decline to 55.5 in February from 56.3 in January, while the composite PMI is projected to edge lower to 55.6 in February from 55.7 in the previous month.
Other Markets: European indices closed higher on Wednesday, with the FTSE 100, DAX 40, ACC 40 and STOXX Europe 600 Index up by 1.23%, 1.12%, 0.81% and 1.19%, respectively.
Russia’s military forces launched several attacks on Ukraine’s Zaporizhia region. The news sent the USD/RUB pair slightly lower in forex trading this morning.
South Africa’s annual inflation rate eased to 3.5% in January from 3.6% in the previous month, which exerted pressure on the USD/ZAR forex pair.
US crude oil inventories dipped by 0.61 million barrels in the week ended February 13, compared to a jump of 13.4 million barrels in the previous week, which sent the WTI crude oil prices higher this morning.
UK’s producer inflation rose 2.5% year-over-year in January, slowing from December’s 3.1% surge and lending some support to the GBP/USD forex pair.
Japan’s core machinery orders jumped 19.1% to ¥1,052.5 billion in December, recovering from an 11% decline in the previous month. However, the USD/JPY pair rose in forex trading this morning.
Eurozone’s current account (1300 UAE Time), construction output (1400 UAE Time) and consumer confidence (1900 UAE Time), Italy’s current account (1300 UAE Time), Spain’s balance of trade (1300 UAE Time), South Africa’s building permits (1500 UAE Time), UK’s CBI industrial trends orders (1500 UAE Time), Canada’s balance of trade (1730 UAE Time) and new housing price index (1730 UAE Time), as well as US balance of trade (1730 UAE Time), initial jobless claims (1730 UAE Time), Philadelphia Fed manufacturing index (1730 UAE Time), retail inventories (1730 UAE Time), wholesale inventories (1730 UAE Time), continuing jobless claims (1730 UAE Time), pending home sales (1900 UAE Time), CB leading index (1900 UAE Time), EIA natural gas stocks change (1930 UAE Time) and EIA crude oil stocks change (2100 UAE Time).
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