Confetti falls as Lyft CEO Logan Green (C) and President John Zimmer (SOL C) celebrate the company’s Nasdaq IPO (IPO) on March 29, 2019, in Los Angeles, California. Shares of the ride-hailing app company were initially priced at $72.
Mario Tama/Getty Images
Check out the companies making the headlines in Friday mid-day trading.
Warner Bros. discovery Shares of the media company tumbled 16.5% after Warner Brothers released its first earnings report since the merger. Warner Bros. Discovery too Says it plans to merge HBO Max and Discovery+ streaming services.
Lyft — Lyft rose 16.6% after posting an unexpected profit in the last quarter. Revenue fell in line with forecasts.
Beyond Meat — Plant-based meat producer’s stock is up 21.9% even after the company shared missed results in the top and bottom lines in the last quarter. Beyond Meat also said it cut 4% of its workforce.
Caravan – Shares of the online used car dealer rose 40.1% on Friday as the company said it would cut costs aggressively in preparation for an economic downturn.
Block Shares of Square owner lost more than 2% after a 34% drop in Cash App revenue in the previous quarter. This decline overshadowed stronger-than-anticipated profits.
DraftKings – The sportsbook increased 9.8% after reporting better-than-expected revenue and adjusted earnings for its last quarter. DraftKings also raised its full-year revenue forecast despite the dismal macro outlook.
extraordinary — Shares fell 4.2 percent JPMorgan downgrades Paramount from neutral to low weightcited the larger macro challenges ahead for the media company. Paramount reported strong second-quarter earnings this week, but lower revenue and free cash flow figures weighed on the results.
door panel – Shares food delivery company traded 1.3% lowerAs investors digested a quarterly report showing a larger-than-expected loss per share, they gave up on earlier earnings. DoorDash lost 72 cents per share in the second quarter, wider than the 41 cents analysts had expected, according to Refinitiv. But his income exceeded expectations.
AMC Entertainment – Theater chain It rallied 18.9% after it announced plans to pay dividends 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 stock last year as a way to raise money.
sunrun — Shares rose 4.5% after Barclays began covering the residential solar installer company with an overweight rating. investment firm Sunrun’s stock could rise after an ambitious clean energy bill This, if accepted, could “start a long cycle of subsidized growth”. Sunrun also reported earnings this week that beat analyst expectations, according to FactSet.
Virgin Galactic — Stocks fell 17.5% after the company announced it was delaying the commercial launch of space flights until the second quarter of 2023. Virgin Galactic’s downgraded stocks on a sales note as the company continues to operate with cash and delayed flights.
Twilio — Twilio stock fell 13.5% despite revenue decline after communications software company shared poor guidance for the current period. Following the report, Stifel downgraded the tech company’s stock to hold from a buyout status and halved its price target on the stock.
iRobot — Shares iRobot jumps more than 19.1% after Amazon reveals plans to buy the robotic vacuum machine for $1.7 billion, or $61 per share.
— CNBC’s Sarah Min, Tanaya Macheel, Yun Li, and Michelle Fox contributed to the reporting.