Shares making the largest strikes noon: Marqeta, Bumble, Palantir and extra
Marqeta Headquarters in Oakland, Calif.
Yalonda M. James | San Francisco Chronicle | Hearst Newspapers through Getty Pictures
Take a look at the businesses making headlines in noon buying and selling.
Opendoor — Opendoor soared 24% after reporting a quarterly lack of 24 cents per share, 10 cents lower than analysts estimated. Late Wednesday, the house shopping for and promoting firm additionally reported better-than-expected income and issued an upbeat gross sales forecast for the present quarter.
Marqeta — Shares of Marqeta, the cardboard issuing platform behind Sq. and “purchase now, pay later” manufacturers like Affirm and Klarna, are down greater than 8% after their first launch of quarterly outcomes as a public firm. On Wednesday, the corporate reported a lack of 29 cents per share. It additionally confirmed 350% progress in its “purchase now, pay later” enterprise, although a serious member of that cohort, Afterpay, has agreed to be acquired by Sq..
Coinbase — The cryptocurrency trade’s inventory fell greater than 7% as the value of bitcoin slipped beneath $45,000. Coinbase’s income comes largely from buying and selling charges, and the corporate’s inventory worth tends to commerce in tandem with the value of bitcoin. The inventory jumped larger earlier this week after reporting blowout earnings.
Bumble — Shares of Bumble gained roughly 6% after the web relationship platform reported combined second-quarter monetary outcomes. Bumble reported a lack of 6 cents per share, whereas analysts anticipated earnings of 1 cent per share, in accordance with Refinitiv. Nonetheless, the corporate reported $186.2 million in income, topping Wall Road’s $178.7 million estimate. Bumble additionally raised its third-quarter and full-year income steering.
Hims & Hers Well being — Shares of the telehealth platform operator jumped over 10% after the corporate posted a narrower-than-expected quarterly loss. Hims & Hers misplaced Three cents per share for its second quarter, smaller than the 9 cent loss estimate from analysts, in accordance with Refinitiv. Its income additionally topped expectations.
Micron — Shares of semiconductor firm dropped greater than 6% after Morgan Stanley downgraded the inventory to equal weight from obese. The funding agency mentioned in a word to shoppers that the reminiscence chip market is about to enter a downturn that can hit Micron and its rivals.
Lordstown Motors — Shares of Lordstown Motors gained nearly 3% regardless of the corporate’s wider-than-expected quarterly lack of 61 cents per share. The electrical automobile maker mentioned it would start restricted manufacturing of its Endurance pickup truck in late September.
Palantir — Palantir shares surged greater than 11% after the info analytics firm reported quarterly income topping Wall Road expectations. Income jumped 49% within the second quarter from the 12 months prior.
Sonos — The maker of audio merchandise noticed its inventory soar about 7% following its earnings report late Wednesday, which got here in at 12 cents per share. Analysts polled by Refinitiv anticipated a lack of 17 cents per share. Sonos additionally recorded robust revenues of $378.7 million, in contrast with an estimate of $313.6 million. CEO Patrick Spence mentioned in a press release that “with extra video content material going direct-to-home, shoppers are demanding a theater-like audio expertise within the dwelling.”
— CNBC’s Hannah Miao, Jesse Pound and Yun Li contributed reporting
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