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Check out the companies making the biggest moves in the middle of the day:
Roblox — Shares added 6% after the video game company reported bookings, or revenue, of $774 million, beating the $766 million expected by analysts polled by Refinitiv. Its daily active users averaged 66 million, up 22% year-over-year. However, Roblox reported a loss of 44 cents per share, which is larger than the 40 cents per share loss that analysts had expected.
Icahn Enterprises – The Carl Icahn conglomerate saw its stock drop more than 15% after a regulatory filing revealed that the US Attorney’s Office for the Southern District of New York contacted the company for information about corporate governance and other materials. Regulators sought the information a day after Hindenburg Research, a prominent short-selling firm, took a short stand against Icahn, claiming the asset’s valuations were “overvalued.”
Rivian — Shares of the electric automaker rose nearly 4% on Wednesday. On Tuesday, the company reported a smaller-than-expected quarterly loss and said it expects to continue to meet future guidance targets. Its revenue of $661 million exceeded the $652 million expected by analysts Refinitiv polled.
Airbnb — Vacation booking stock fell 10% the day after the company shared a weak outlook. While Airbnb beat higher and lower expectations for the first quarter, it warned of lower average daily rates in the second quarter and slower growth in nights booked compared to last year.
Twilio – Shares sank 15%. Tuesday, software company announced its revenue forecast for the second quarter, which came in lower than expected. Twilio expects between $980 million and $990 million in revenue, while analysts polled by Refinitiv expect it to generate $1.05 billion in revenue.
Syneos Health – The stock rose 8.7% after news of the acquisition of A A consortium of private equity firms, including Elliott Investment Management and Veritas Capital. The group will pay $43 per share.
Dutch Bros – Shares of the fast-casual coffee chain fell 9%. on Tuesdaythe company reported that store sales and revenue in the first quarter missed analysts’ expectations, according to FactSet.
Celsius Holdings – Shares jumped 22%. on Tuesday, the energy drink company reported earnings per share of 40 cents per share for the first quarter, more than double the 19 cents per share expected by analysts surveyed by FactSet. Revenue also exceeded analysts’ expectations. Bank of America upgraded the stock to Buy from Neutral as a result.
Occidental Petroleum — Shares of the oil giant fell 3.9%. On Tuesday, Occidental posted adjusted earnings per share for the first quarter of $1.09, lower than the $1.24 estimate from analysts polled by FactSet.
Akamai Technologies Akamai Technologies jumped 7.7% the next day The cloud services provider reported adjusted earnings of $1.40, greater than analyst orders of $1.32 a share, according to FactSet. The company generated revenue of $915.7 million, above expectations of $910.5 million. Akamai CEO, Dr. The company had a “strong start to 2023,” said Tom Leighton, while reaching “a significant milestone during the first quarter when security became, for the first time in Akamai’s 25-year history, our largest source of revenue.”
First Citizens BancShares Shares of the bank rose nearly 9% after the company reported first-quarter financial results, which included an increase in deposits, thanks in part to the $49.26 billion it got from Silicon Valley Bank in March.
Topgolf Callaway Brands Shares of the golf company fell more than 17%. On Tuesday, Topgolf cut its full-year earnings per share guidance, which is now below analyst estimates, according to FactSet.
Rockwell Automation – Shares of the industrial technology company fell 3% after a report in The Wall Street Journal He said the Biden administration is investigating whether the industrial technology company exposed US military, infrastructure and government assets through one of its facilities in China. Rockwell Automation told CNBC that “there is no report or other indication that these practices and protocols have been violated or that any of our products have been intentionally compromised” and that it has not been notified of any investigation into the company’s work in China.
— CNBC’s Brian Evans, Yoon Lee, Alex Haring, Samantha Sobin, Sarah Min and Tanaya Machel contributed reporting.
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