Stocks continued to demonstrate their overall lack of direction on Thursday, as investors failed to build on positive momentum following huge gains in the markets after the Federal Reserve's interest rate decision on Wednesday. As of noon ET, the Nasdaq Composite (NASDAQINDEX: ^IXIC) had given back all its gains from the previous day and then some, falling nearly 5%.
The challenge investors face is that just as the broader markets are up one day and down the next, individual stocks are encountering very different business conditions in their respective industries. That was evident Thursday from the reactions that Booking Holdings (NASDAQ: BKNG) and Etsy (NASDAQ: ETSY) had following the release of their respective quarterly results. Below, we'll look more closely at the two companies to see why their reactions were so different.
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Why Booking Holdings Booked Gains While Etsy Dragged Down the Nasdaq Thursday