Check out the latest midday stock market movers, including Affirm, Coinbase, Stitch Fix, Campbell Soup, and many others. Discover the significant developments and market trends influencing these stocks.
Affirm (Ticker: AFRM):
Affirm's shares experienced a 2.4% increase after the company announced a new compatibility feature in collaboration with Amazon. Affirm's Adaptive Checkout, which enables customers to choose pay-over-time plans, will now be available as a payment option through merchants offering Amazon Pay.
Coinbase (Ticker: COIN):
Following a 12% decline in the previous session, the crypto exchange Coinbase rebounded with a 3.2% gain. The U.S. Securities and Exchange Commission recently filed a lawsuit against Coinbase, accusing the company of operating as an unregistered exchange and broker. Ark Invest's Cathie Wood took advantage of the dip and purchased shares after the news broke on Tuesday.
Warner Bros. Discovery (Ticker: WBDISCA):
Shares of Warner Bros. Discovery surged by 8.43% following the news of CNN CEO Chris Licht's departure from the company. After a challenging reign of just over a year, this development attracted investor attention and contributed to the stock's rise.
Stitch Fix (Ticker: SFIX):
Stitch Fix, the online personalized styling service company, witnessed a remarkable 27.99% surge in its stock price. This surge followed the company's fiscal third-quarter report, which revealed a narrower-than-expected loss. Stitch Fix reported a loss of 19 cents per share, outperforming analysts' predictions of a 30-cent loss per share, as reported by Refinitiv. The company's revenue also exceeded expectations.
Dave & Buster’s (Ticker: PLAY):
Shares of entertainment giant Dave & Buster’s leaped by 18.29% the day after the company exceeded earnings forecasts. Dave & Buster’s reported first-quarter earnings of $1.45 per share, surpassing Refinitiv's consensus estimate of $1.24 per share. However, the company fell short of revenue expectations, with $597 million compared to the estimated $602 million by Wall Street.
GameStop (Ticker: GME):
The meme stock, GameStop, experienced a 5.75% increase in anticipation of its quarterly results release following Wednesday's market close. According to analysts surveyed by FactSet, a quarterly loss of 15 cents per share is expected.
Petrobras (Ticker: PBR):
Shares of Brazilian oil giant Petrobras rose by 2.92% after receiving an overweight rating from Morgan Stanley. The Wall Street firm believes Petrobras may provide investors with a larger dividend this year compared to its historical payouts.
Tesla (Ticker: TSLA):
Tesla's shares added 1.47% after the company updated its website to indicate that new Model 3 and Model Y cars are eligible for a $7,500 tax credit from the Inflation Reduction Act. This news potentially boosts the appeal of Tesla's vehicles to prospective buyers.
Yext (Ticker: YEXT):
Shares of online marketing firm Yext surged by an impressive 38.44% during midday trading due to an earnings beat. Yext reported adjusted earnings of 8 cents per share on $99.5 million in revenue, surpassing FactSet's forecast of 5 cents per share and $98.5 million in revenue.
Super Micro Computer (Ticker: SMCI):
Rosenblatt began following Super Micro Computer with a buy rating and a $300 price target, and the company's chip stock increased by 2.84% as a result. This target suggests a potential gain of nearly 28–30% from Tuesday's closing price. Super Micro Computer was one of the largest users of artificial intelligence, according to Rosenblatt.
Campbell Soup (Ticker: CPB):
Campbell Soup's shares declined by 8.91% after reaffirming its full-year adjusted earnings per share guidance of $2.95 to $3.00. This forecast fell short of analysts' expectations of $3.01 per share, as reported by StreetAccount. However, the company exceeded estimates for its fiscal third-quarter earnings, while its revenue aligned with projections.
Mobileye Global (Ticker: MBLY):
Autonomous vehicle technology stock Mobileye Global saw a 2.84% increase after Canaccord Genuity initiated coverage with a buy rating. Canaccord Genuity emphasized Mobileye's potential as a sustainable play that can enhance supply chains.
Conclusion:
The performance of Affirm, Coinbase, Stitch Fix, Campbell Soup, and other well-known stocks was affected by the market dynamics and company-specific factors highlighted by these midday stock moves. To make wise investment decisions, keep up with the latest developments.
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