Lyft CEO Logan Green (C) and President John Zimmer (C, left) ring the Nasdaq opening bell to celebrate the company’s 2019 initial public offering (IPO). March 29 Shares of the ride-hailing app company initially traded at $72.
Mario Tama/Getty Images
Check out Friday’s midday trading headlines about companies.
Warner Bros. Discovery”. – Shares of the media company fell 15.8% after Warner Brothers reported its first post-merger earnings report. Warner Bros. Discovery too said it plans to merge its HBO Max and Discovery+ streaming services.
Lyft – Lyft rose 14.2% after sharing a surprise last-quarter profit. Revenue fell short of forecasts.
For meat — Shares of the plant-based meat maker surged 22.7% even after the company shared its latest quarter results, which missed the top and bottom lines. Beyond Meat also announced it will cut 4% of its workforce.
Caravan – Shares of the online used car dealer rose 32.5 percent on Friday as the company said it would aggressively cut costs in preparation for an economic downturn.
Block — Shares in the owner of Square lost more than 2 percent after the Cash App’s revenue fell 34 percent last quarter. The drop overshadowed a better-than-expected profit.
DraftKings — The sports betting company jumped 11% after reporting better-than-expected revenue and adjusted earnings for the latest quarter. DraftKings also raised its full-year revenue forecast despite a bleak macroeconomic outlook.
The most important thing – Shares fell 5% after that. JPMorgan downgraded Paramount to neutral weight, pointing to the larger macro challenges facing media companies. Paramount reported strong second-quarter earnings this week, but declining revenue and free cash flow numbers weighed on the results.
DoorDash – shares the food delivery company’s trade was slightly lower, gave up earlier gains as investors pored over a quarterly report that showed a bigger-than-expected loss per share. According to Refinitiv, DoorDash lost 72 cents per share in the second quarter, beating the 41 cent loss analysts were expecting. However, its earnings exceeded expectations.
AMC entertainment – Theater circuit rose 13% after announcing plans to issue a dividend late Thursday in the form of preferred shares under the symbol “APE”. The move comes after investors rejected the company’s efforts to issue additional shares last year as a way to raise cash.
sunset — Shares jumped 7% after Barclays initiated coverage on the residential solar installer with an overweight rating. Investment company said Sunrun shares could rise on ambitious clean energy bill which could “start a long cycle of subsidized growth” if passed. Sunrun also reported earnings this week that beat analysts’ expectations, according to FactSet.
Virgin Galactic — Shares fell 15% after the company said it was delaying commercial spaceflight until 2023. of the second quarter. Truist downgraded Virgin Galactic shares to a sell rating as the company continues to run on cash and postpone flights.
Twilio – Twilio shares fell 13 percent. despite a rise in earnings after the communications software company shared weak guidance for the current period. Following the announcement, Stifel downgraded the tech company’s stock to hold and cut its price target in half.
iRobot – shares iRobot surged more than 19% after Amazon announced its plans to buy a robotic vacuum cleaner maker for $1.7 billion USD or USD 61 per share.
— CNBC’s Sarah Min, Tanaya Macheel, Yun Li and Michelle Fox contributed reporting.