Lyft, Tripadvisor, Take-Two Interactive and more


Check out the companies that make headlines during afternoon trading.

Lyft Shares of Lyft plunged 21% after the company’s earnings report showed mixed results in the last quarter. The rideshare company reported adjusted earnings per share of 10 cents, ahead of analysts’ expectations of 7 cents, but revenue lagged Street’s forecast, coming in at $1.05 billion versus $1.06 billion expected. , per Refinitive.

Tripadvisor – The travel platform declined 17% after quarterly results fell below expectations. The company cited currency fluctuations as a driver of performance, but noted that travel demand remained strong.

Take-Two Interactive – Shares of Take-Two plunged more than 11% a day after the video game company lowered its net booking outlook for the year. It also said it expects a net loss for the fiscal year ended March 31, 2023 of between $674 million and $631 million, worse than its forecast in earnings for the first quarter.

Kohls – Shares of the retailer rose 10% after news that CEO Michelle Gass is leaving the company. Gass will join Levi Strauss & Co in January. join as president and CEO. Levi Strauss shares fell 1.8% on the news.

Scotts Miracle-Gro Shares of fertilizer company Scotts Miracle-Gro rose 10% on Tuesday after Barclays upgraded its stock to overweight and said they see it rise another 50%.

Carvana – Carvana shares continued their sell-off, falling 1% after the used car dealer’s revenue slipped on Friday. JPMorgan lowered its price target on Carvana on Tuesday and Morgan Stanley withdrew its rating and price target for the stock on Friday.

Dave & Buster’s Entertainment – Restaurant and entertainment stocks rose 2% after Deutsche Bank’s upgrade to buy off hold. The bank said Dave & Buster’s offers a “convincing” risk return despite a difficult macro picture.

Tesla Tesla’s stock lost 1% in midday trading Tuesday amid news that the company is recalling more than 40,000 of its vehicles in the US due to a potential loss of power steering. The news also broke that Elon Musk, the electric vehicle manufacturer’s CEO and new Twitter owner, is considering a potential paywall on the social media platform. Earlier this week, Musk said he would permanently suspend accounts posing without a parody label on Twitter.

Norwegian Cruise Line – Cruise inventory added 4% after the company posted lower-than-expected loss and revenue for the recent quarter as demand for travel bounces back. The company said it expects bookings in 2023 to match 2019 levels, but at “significantly higher” prices.

Lordstown Motors — Shares fell 1% after announcing that Foxconn will become the largest shareholder in Lordstown Motors, investing up to $170 million in the electric vehicle manufacturer.

Amgen — The stock rose 6.5% a day after a presentation of the American Heart Association’s annual Scientific Sessions event. There, Amgen provided an update on its obesity drug AMG 133. Management said the preliminary data was “encouraging,” according to a Mizuho note on Monday. On Tuesday, the stock traded at highs not seen since its IPO in 1983.

Palo Alto Networks — Cybersecurity stocks are up 6% after Morgan Stanley said it is “pounding the table” on Palo Alto Networks as a top pick, and said the set-up for the company is “convincing” in a difficult macro backdrop.

Dupont De Nemours – Shares of Dupont De Nemours rose 7% after the chemical company released quarterly results that beat Wall Street expectations and confirmed its full-year outlook.

SolarEdge Technologies Shares of SolarEdge rose 18% after the company reported record quarterly sales that exceeded analyst expectations. The company also provided forward guidance for fourth quarter revenue of $855 million to $885 million, where analysts estimate $857 million.

source Shares of Welltower, a real estate company, gained 10% after publishing quarterly results Monday evening. Turnover exceeded expectations thanks to a higher occupancy rate in senior housing.

Mosaic – Fertilizer company Mosaic gained 5.8%, although it reported gains that fell short of Wall Street expectations. Earnings per share were $3.22 versus the estimate of $3.40, according to Refinitiv. Revenue was $5.35 billion instead of the expected $5.79 billion.

Lumen technologies Shares of Lumen Technologies rose 4.8% as investors looked to buy back the company after it lost nearly 30% when it reported disappointing earnings results earlier this month.

Medtronic Shares of the healthcare tech company fell 4% after it reported results of a hypertension study showing that a device it made lowered blood pressure only slightly more than drugs.

Robin Hood Shares of trading platform Robinhood fell more than 11% as investors weigh the potential impact of the controversy surrounding cryptocurrency firm FTX.

Planet Fitness Shares of the gym operator rose 11.5% after the company reported quarterly results and revenue that beat Wall Street estimates.

Reynolds Consumer Products Shares of consumer company Reynolds fell 5.4% after it reported mixed earnings results. Adjusted earnings per share were 24 cents, while analysts were expecting 23 cents. Sales fell short of estimates, coming in at $967 million instead of $979 million.

perrigoShares of pharmaceutical company Perrigo plunged 16% after the company reported earnings and sales that fell short of analyst expectations, Refinitiv said.

five9 Shares of Five9, a cloud company, rose 15% after it released quarterly results. The company reported revenue of $198.3 million, which StreetAccount said exceeded expectations. However, the fourth quarter outlook for revenue and earnings per share was brighter than analysts had expected.

— CNBC’s Samantha Subin, Michelle Fox, Alex Harring, Tanaya Macheel and Sarah Min contributed coverage

The Valley Voice
The Valley Voice
Christopher Brito is a social media producer and trending writer for The Valley Voice, with a focus on sports and stories related to race and culture.


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