Twitter, Affirm, Robinhood and more

Traders work on the floor of the New York Stock Exchange.

NYSE

Check out the companies making headlines in midday trading.

Twitter – Shares of the social media platform fell 9.7% after Elon Musk said his take-private deal is on hold pending more information about how many fake accounts exist on Twitter . Still, Musk said he was “still involved in the acquisition.”

Affirm — Shares of the buy-now, pay-later lender rose 31.4% after Affirm beat expectations for the fiscal third quarter. The company reported a loss of 19 cents a share on sales of $355 million. Analysts polled by Refinitiv had projected a loss of 51 cents a share on sales of $344 million. Affirm also announced a multi-year extension of its partnership with Shopify.

Robinhood — Shares of the investment app rose 24.9% on Friday after crypto exchange FTX CEO Sam Bankman-Fried bought a 7.6% stake in Robinhood for $648 million, after the stock hit an all-time low this week. His new position makes him the company’s third-largest shareholder.

Duolingo — Shares rose 34% after the language software company released better-than-expected quarterly earnings and earnings. Duolingo issued an upbeat quarterly sales forecast and reported a record number of active users.

Feigen — Feigen’s shares fell 25% on disappointing quarterly results. The healthcare apparel maker posted earnings of 5 cents a share on sales of $110.1 million. Analysts were expecting earnings of 6 cents a share on sales of $117.3 million, according to StreetAccount. The company also issued a weaker-than-expected sales guidance for the year.

Krispy Kreme – Shares of the donut chain rose 10.4% after an upgrade from HSBC. “We anticipate that higher pricing and scale resulting from aggressive point-of-access expansion will keep earnings expectations on track,” HSBC said.

Toast – Toast’s shares rose 4.9% after the restaurant technology and payments platform reported a loss for the most recent quarter that was smaller than Wall Street analysts had expected. The company also issued an upbeat sales forecast for the year.

Poshmark – Poshmark rose 23.9% after the company reported a quarterly loss of 18 cents a share. Wall Street analysts expected a loss of 22 cents per share, according to Refinitiv. Quarterly revenue of $90.9 million also beat estimates of $87.5 million.

The Honest Company — Shares of The Honest Company rose 8.2% after the personal care and home products maker reported a quarterly loss and sales in line with analysts’ expectations. The company also reiterated its sales guidance for the full year.

Ford Motor – Shares of the automaker rose 8.5% after Morgan Stanley upgraded the stock from underweight to equal weight as the market underestimated certain parts of the company’s business.

– CNBC’s Jesse Pound, Sarah Min, Yun Li and Hannah Miao contributed coverage

https://www.cnbc.com/2022/05/13/stocks-making-the-biggest-moves-midday-twitter-affirm-robinhood-and-more.html Twitter, Affirm, Robinhood and more

Jane Marczewski

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