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As travel industry executives tout the rapid resurgence of tourism and entertainment, the pandemic stock portfolio is getting turned upside down.

Airlines stocks are rallying alongside online booking sites, ride-hailing companies and Airbnb, after earnings reports showed clear signs of a recovery in travel. At the same time, stay-at-home stocks are sagging as borders reopen and health experts indicate that an end to the Covid-19 pandemic could come sooner than expected.

“We’ve seen it everywhere,” Expedia CEO Peter Kern told analysts on an earnings call Thursday after his company reported a 97% jump in revenue from a year earlier. “Cities are picking up. International has picked up. Virtually every area has seen growth.”

Expedia shares soared 16% on Friday and rival Booking Holdings jumped over 7%. Airbnb surged 13% and closed out its best week since its IPO late last year, after the home-sharing company reported better-than-expected revenue and a 280% increase in profit.

Airlines are finally back. Delta had its best week in about a year, climbing 13%, as the U.S. prepares to lift international travel bans. American Airlines jumped 14% and Southwest Airlines rose more than 10% for the week.

The across-the-board rally in travel followed an announcement from Pfizer, which said on Friday that its Covid-19 pill, when combined with a common HIV drug, cut the risk of hospitalization or death by 89% in high-risk adults exposed to the virus. Dr. Scott Gottlieb, a Pfizer board member, told CNBC’s “Squawk Box” that Covid-19 could end in the U.S. by early January, when President Biden’s workplace vaccine mandate goes into effect.

“These mandates that are going to be put in place by Jan. 4 really are coming on the tail end of this pandemic,” said Gottlieb, who’s also a former commissioner of the Food and Drug Administration. 

Meanwhile, Peloton had its worst day on the market since the home workout company’s IPO in 2019. Peloton reported a wider-than-expected quarterly loss late Thursday as it copes with waning demand from the reopening of gyms as well as supply chain constraints.

Peloton shares tumbled 35% on Friday to their lowest level since June 2020.

“We anticipated fiscal 2022 would be a very challenging year to forecast, given unusual year-ago comparisons, demand uncertainty amidst re-opening economies, and widely-reported supply chain constraints and commodity cost pressures,” Chief Executive Officer John Foley said in a letter to shareholders. 

During an all-hands meeting on Friday, Peloton halted hiring across all departments effective immediately, CNBC has learned.

While not as dramatic as Peloton’s plunge, Netflix dropped 6.5% this week, the worst stretch since April for the streaming-video company. Zoom, the video-chat company that headlined everyone’s pandemic portfolio as revenue in 2020 soared 326%, fell over 6% on Friday. Food-delivery provider Doordash, which became a household name last year, fell more than 4%.

Workers returning to the office and consumers going back to the movie theaters, concerts and restaurants could very well spell some trouble for Netflix, Zoom, Doordash and other stay-at-home companies. To get from place to place, people will need rides, which helps explain why investors are rotating into Uber and Lyft.

On Thursday, Uber reported 72% revenue growth from a year earlier, with the number of active mobility drivers increasing nearly 60%. Lyft, which has also invested millions into incentives, said drivers are coming back. Lyft shares jumped 17% this week and Uber climbed almost 8%.

Uber CEO Dara Khosrowshahi said on the company’s earnings call that some of the supply and demand challenges that emerged during the pandemic are working themselves out. Surge pricing incidents have come down by roughly half, and wait times are averaging less than five minutes, he said.

“The rebound is unmistakable,” Khosrowshahi told CNBC’s “Squawk Box” on Friday, adding that airport and business travel are both coming back, though the magnitude of the rebound varies by geography. “The human condition of wanting to move, of wanting to travel, of wanting to get out of the house, it’s true for everyone and it’s universal.”

Broadway shows began reopening in September, while movie ticket sales are up and theaters and concert venues have thrown open their doors. Shares of Live Nation Entertainment surged 15% on Friday after the company reported strong third-quarter earnings, and Eventbrite rose more than 5%.

“Live music roared back over the past quarter,” said Michael Rapino, CEO of Live Nation, on the company’s earnings call. Rapino said ticket sales for major festivals were up 10% in the quarter from 2019 levels, and said “many of our festivals selling out in record time.”

WATCH: Pent up demand for entertainment is driving the sector

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Intel drops 9% as chipmaker’s foundry business axes projects, struggles to find customers

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Intel drops 9% as chipmaker's foundry business axes projects, struggles to find customers

Lip-Bu Tan, Chief Executive Officer of Intel, appears at an event organized by the company.

Andrej Sokolow | Picture Alliance | Getty Images

Intel‘s stock dropped 9% after the chipmaker said it would slash foundry costs in its latest attempt to turnaround its struggling business.

Concerns about where that leaves Intel’s chip manufacturing business overshadowed a better-than-expected earnings report late Thursday. Intel beat on revenue and issued a sales forecast for the third quarter that also topped estimates. The company reported adjusted earnings of 10 cents per share, topping the average analyst estimate of a penny, according to LSEG.

CEO Lip-Bu Tan, who was appointed to the job in March, wrote in a memo to employees that the company’s forthcoming chip manufacturing process, called 14A, will be built out based on confirmed customer commitments and that there will be “no more blank checks.” In a filing with the SEC on Thursday, Intel said it may “pause or discontinue” its foundry business entirely if it could not secure a customer on its next technology cycle.

“We have been unsuccessful to date in securing any significant external foundry customers for any of our nodes and our prospects for securing a significant external foundry customer for Intel 14A are uncertain,” the company said in the filing.

Intel’s drop on Friday wiped out most of its rally for the year. The shares lost 60% of their value in 2024, their worst year on record. The slump reflected Intel’s inability to make much headway in the artificial intelligence market, which is dominated by Nvidia, as well as skepticism surrounding its foundry bet.

The company said it’s axing chip facility projects in Germany and Poland and slowing production at its Ohio plant. Intel depends on a large customer for its foundry business to succeed.

“Management wants external customer commitments to pursue the node, but in the meantime, this adds more uncertainty to product roadmaps and makes customer adoption more unlikely,” analysts at Barclays, who have the equivalent of a hold rating on the stock, wrote in a note to clients.

Tan, who replaced Pat Gelsinger as CEO, said in the memo that his first few months at the helm of the company have “not been easy.” Intel has gone through with most of its layoff plans, which will result in eliminating 15% of its workforce and finishing the year with 75,000 employees.

“Over the past several years, the company invested too much, too soon – without adequate demand,” Tan wrote. “In the process, our factory footprint became needlessly fragmented and underutilized,” he added

Intel’s net loss widened to $2.9 billion, or 67 cents per share, from $1.61 billion, or 38 cents in the year-ago period. The company recorded an $800 million impairment charge, “related to excess tools with no identified re-use.”

Analysts at JPMorgan Chase called Intel’s foundry decision a “positive step,” although ongoing market share losses remain a concern.

WATCH: Intel shares drop despite topping revenue estimates

Intel shares drop despite topping revenue estimates

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Astronomer HR chief Kristin Cabot resigns following Coldplay ‘kiss cam’ incident

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Astronomer HR chief Kristin Cabot resigns following Coldplay 'kiss cam' incident

Chris Martin of Coldplay performs live at San Siro Stadium, Milan, Italy, in July 2017.

Mairo Cinquetti | NurPhoto | Getty Images

Days after Astronomer CEO Andy Byron resigned from the tech startup, the HR exec who was with him at the infamous Coldplay concert has left as well.

“Kristin Cabot is no longer with Astronomer, she has resigned,” a company spokesperson wrote in an email to CNBC Thursday. Cabot was the company’s chief people officer.

Cabot and Byron, who is married with children, were shown in an intimate moment on the ‘kiss cam’ at a recent Coldplay show in Boston, and immediately hid when they saw their faces on the big screen. Lead singer Chris Martin said, “Either they’re having an affair or they’re just very shy.” An attendee’s video of the incident went viral.

Byron resigned from the company on Saturday. Both Cabot and Byron have been removed the company’s leadership team webpage.

Pete DeJoy, Astronomer’s interim CEO, wrote in a post earlier this week that recent and unexpected national attention has turned the company into “a household name.”

In May, the New York-based company, which commercializes open source software, announced a $93 million investment round led by Bain Ventures and other investors, including Salesforce Ventures.

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Musk’s Starlink hit with outage day after rollout of T-Mobile satellite service

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Musk's Starlink hit with outage day after rollout of T-Mobile satellite service

Jakub Porzycki | Nurphoto | Getty Images

Elon Musk‘s satellite internet service Starlink said it had a “network outage” on Thursday. The company said it was working on a solution.

There were more than 60,000 reports of an outage on Downdetector, a site that logs issues.

Starlink is owned and operated by SpaceX, which is also run by Musk.

Musk apologized for the outage on his social media platform X and said, “Service will be restored shortly.”

Musk posted earlier Thursday that the company’s direct-to-cell-phone service was “growing fast” following the announcement that T-Mobile‘s Starlink-powered satellite service was available to the public.

T-Mobile said the T-Satellite service was built to keep phones connected “in places no carrier towers can reach.”

Starlink didn’t immediately respond to a request for comment.

Starlink internet speeds and reliability decrease with popularity, a recent study found.

It wasn’t immediately clear if the T-Satellite service was affected by or involved in the outage.

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CNBC’s Lora Kolodny contributed to this story.

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