Block Rallies, Duolingo Tumbles, FIGS Surges

Today's biggest winners and losers in the stock market. On this episode of Stock Movers: -Block (XYZ) shares rally after the financial technology company said it was reducing its workforce by nearly half in a bet on AI. Jack Dorsey’s firm also raised its full-year outlook for gross profit, which was already above the average analyst estimate. -Duolingo (DUOL) shares tumble after the language-learning software company gave a full-year outlook that is below expectations. The stock has dropped 33% this year, as of the last close, as investors fret about the prospect of AI-related disruption. Multiple firms downgraded the stock. - FIGS (FIGS) Inc shares are climbing after the company delivered a standout fourth-quarter report that blew past Wall Street expectations. FIGS posted earnings of 10 cents per share, far above the 2 cent estimate, and revenue of $201.9 million, which topped expectations by more than 22%.See omnystudio.com/listener for privacy information.