Traders work on the floor of the New York Stock Exchange. NYSE Check out the companies making headlines in midday trading. Twitter — Shares of the social media platform slid 9.7% after Elon Musk said his take-private deal is on hold until he receives more information about how many fake accounts there are on Twitter. Still, Musk
Traders work on the floor of the New York Stock Exchange.
Check out the companies making headlines in midday trading.
Twitter — Shares of the social media platform slid 9.7% after Elon Musk said his take-private deal is on hold until he receives more information about how many fake accounts there are on Twitter. Still, Musk said he was “still committed to the acquisition.”
Affirm — Shares of the buy-now, pay-later lender surged 31.4% after Affirm beat expectations for its fiscal third quarter. The company reported a loss of 19 cents per share on $355 million of revenue. Analysts surveyed by Refinitiv had penciled in a loss of 51 cents per share on $344 million of revenue. Affirm also announced a multiyear extension of its partnership with Shopify.
Robinhood — Shares of the investing app jumped 24.9% on Friday after the CEO of crypto exchange FTX, Sam Bankman-Fried, picked up a 7.6% stake in Robinhood for $648 million after the stock hit an all-time low this week. His new position makes him the third-largest shareholder in the company.
Duolingo — Shares surged 34% after the language software company posted better-than-expected quarterly earnings and revenue. Duolingo issued upbeat quarterly revenue guidance, and reported all-time high active user numbers.
Figs — Figs shares fell 25% on the back of disappointing quarterly results. The health-care apparel maker posted a profit of 5 cents per share on revenue of $110.1 million. Analysts expected earnings of 6 cents per share on sales of $117.3 million, according to StreetAccount. The company also issued weaker-than-expected revenue guidance for the year.
Krispy Kreme — Shares of the doughnut chain popped 10.4% after an upgrade from HSBC. “We expect more pricing and higher scale resulting from an aggressive point of access expansion will keep earnings expectations on track,” HSBC said.
Toast — Shares of Toast added 4.9% after the tech and payments platform for restaurants reported a loss for its most recent quarter that was narrower than expected by Wall Street analysts. The company also issued upbeat revenue guidance for the year.
Poshmark — Poshmark rose 23.9% after the company reported a quarterly loss of 18 cents per share. Wall Street analysts expected a loss of 22 cents per share, according to Refinitiv. Revenue for the quarter of $90.9 million also beat estimates of $87.5 million.
The Honest Company — Shares of The Honest Company were up 8.2% after the maker of personal care and household products reported a quarterly loss and revenue that were in line with analyst expectations. The company also reiterated its full-year revenue guidance.
— CNBC’s Jesse Pound, Sarah Min, Yun Li and Hannah Miao contributed reporting