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Thursday, May 19, 2022

Stocks making the most important strikes noon: Twitter, Affirm, Robinhood and extra

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Traders work on the ground of the New York Stock Exchange. 

NYSE

Check out the businesses making headlines in noon buying and selling.

Twitter — Shares of the social media platform slid 8% after Elon Musk stated his take-private deal is on maintain till he receives extra details about what number of pretend accounts there are on Twitter. Still, Musk stated he was “still committed to the acquisition.”

Affirm — Shares of the buy-now, pay-later lender surged 31.5% after Affirm beat expectations for its fiscal third quarter. The firm reported a lack of 19 cents per share on $355 million of income. Analysts surveyed by Refinitiv had penciled in a lack of 51 cents per share on $344 million of income. Affirm additionally introduced a multiyear extension of its partnership with Shopify.

Robinhood — Shares of the investing app jumped 24.5% on Friday after the CEO of crypto change FTX, Sam Bankman-Fried, picked up a 7.6% stake in Robinhood for $648 million after the inventory hit an all-time low this week. His new place makes him the third-largest shareholder within the firm.

Duolingo — Shares surged 39% after the language software program firm posted better-than-expected quarterly earnings and income. Duolingo issued upbeat quarterly income steerage, and reported all-time excessive lively person numbers.

Figs — Figs shares fell 26% on the again of disappointing quarterly outcomes. The health-care attire maker posted a revenue of 5 cents per share on income of $110.1 million. Analysts anticipated earnings of 6 cents per share on gross sales of $117.3 million, in accordance with StreetAccount. The firm additionally issued weaker-than-expected income steerage for the yr.

Krispy Kreme — Shares of the doughnut chain popped 10.5% after an improve from HSBC. “We expect more pricing and higher scale resulting from an aggressive point of access expansion will keep earnings expectations on track,” HSBC stated. 

Toast — Shares of Toast jumped 12% after the tech and funds platform for eating places reported a loss for its most up-to-date quarter that was narrower than anticipated by Wall Street analysts. The firm additionally issued upbeat income steerage for the yr.

Poshmark — Poshmark rose 24.3% after the corporate reported a quarterly lack of 18 cents per share. Wall Street analysts anticipated a lack of 22 cents per share, in accordance with Refinitiv. Revenue for the quarter of $90.9 million additionally beat estimates of $87.5 million.

The Honest Company — Shares of The Honest Company had been up 13.7% after the maker of private care and family merchandise reported a quarterly loss and income that had been consistent with analyst expectations. The firm additionally reiterated its full-year income steerage.

Ford Motor — Shares of the carmaker added 9% after Morgan Stanley upgraded the inventory to equal weight from underweight, saying the market is underestimating sure components of the corporate’s enterprise.

— CNBC’s Jesse Pound, Sarah Min, Yun Li and Hannah Miao contributed reporting

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