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Find out which companies are making headlines in the midday business.
Twitter – Shares of the social media platform fell 8% after Elon Musk said his privatization deal was on hold until he received more information about the number of fake accounts on Twitter. Still, Musk said he was “still committed to the acquisition.”
Affirm – Shares of the buy now, pay later lender jumped 31.5% after Affirm beat expectations for its fiscal third quarter. The company reported a loss of 19 cents per share on $355 million in revenue. Analysts polled by Refinitiv had forecast a loss of 51 cents per share on $344 million in revenue. Affirm also announced a multi-year extension of its partnership with Shopify.
Robinhood – Shares of the investing app jumped 24.5% on Friday after crypto exchange FTX CEO Sam Bankman-Fried took a 7.6% stake in Robinhood for $648 million dollars after the stock hit an all-time low this week. His new position makes him the company’s third largest shareholder.
Duolingo – Shares jumped 39% after the language software company reported better-than-expected quarterly earnings and revenue. Duolingo released an upbeat quarterly revenue forecast and reported a record number of active users.
Figs – Shares of Figs fell 26% on disappointing quarterly results. The healthcare apparel maker posted earnings of 5 cents a share on revenue of $110.1 million. Analysts had expected earnings of 6 cents per share on sales of $117.3 million, according to StreetAccount. The company also released weaker-than-expected revenue guidance for the year.
Krispy Kreme – Shares of the donut chain jumped 10.5% after an upgrade from HSBC. “We expect higher prices and higher scale resulting from aggressive hotspot expansion will keep earnings guidance on track,” HSBC said.
Toast – Shares of Toast jumped 12% after the restaurant technology and payments platform reported a loss for its latest quarter that was narrower than expected by Wall Street analysts. The company also released an upbeat revenue forecast for the year.
Poshmark – Poshmark rose 24.3% after the company reported a quarterly loss of 18 cents per share. Wall Street analysts had expected a loss of 22 cents per share, according to Refinitiv. Revenue for the quarter of $90.9 million also beat estimates of $87.5 million.
The Honest Company – Shares of The Honest Company rose 13.7% after the maker of personal care and household products reported a quarterly loss and revenue in line with analysts’ expectations. The company also reiterated its full-year revenue guidance.
Ford Motor – Shares of the automaker rose 9% after Morgan Stanley upgraded the stock to equal weight from underweight, saying the market is undervaluing parts of the company’s business business.
— CNBC’s Jesse Pound, Sarah Min, Yun Li and Hannah Miao contributed reporting
