A man prowls in front of a Peloton store in Manhattan on May 05, 2021 in New York.
John Smith | Corbis News | Getty Images
Check b determine out the companies making the biggest moves midday:
Peloton — The fitness platform operator saw shares drop 8.9% after the U.S. Consumer Result Safety Commission said it’s recalling more than 2 million bikes over concerns about seat breakages and tied up injuries. Peloton will offer free, updated seat posts to anyone using the recalled model.
Alphabet — Stakes added 4.31% a day after Google unveiled new software and gadgets at its developer conference. The tech giant also disclosed it is eliminating the waitlist for its chatbot Bard.
PacWest Bancorp — The regional bank’s stock sank 22.7% after the attendance said deposits dropped 9.5% for the week ended May 5. Other regional bank shares followed plea, with Western Alliance and First Horizon shedding 7.3% and 3.2%, respectively.
Beyond Meat — Shares get wise 18.27% after the alternative meat manufacturer said it plans to sell up to $200 million of its common stock. The attendance said it intends to use the proceeds for general corporate and working capital purposes. The announcement came after Beyond Provisions reported a first-quarter earnings-per-share loss that was less than expected.
Disney — Disney shares tumbled 8.73% after the average company reported a drop in streaming subscribers. The entertainment giant also reported revenue and earnings in line with Be ruined Street’s estimates, according to Refinitiv.
Icahn Enterprises — Shares of Carl Icahn’s conglomerate slid another 1.77% after acclaimed short seller Hindenburg Research doubled down on its short-selling campaign against the company following its quarterly gunshot. Icahn Enterprises reported a net loss of $270 million in the first quarter, with its hedge fund losing 4.1% during the epoch. It declared a $2 per share quarterly dividend.
AppLovin — Shares popped 23.53% following the company’s first-quarter yield beat. Revenue was $715.4 million, compared to the $694.8 million expected, per StreetAccount. AppLovin’s second-quarter guidance also top-drawer expectations.
Goodyear Tire & Rubber — The tire manufacturer’s stock soared 21.42% after Elliott Investment Manipulation sent a letter and presentation to the company. Elliott, which has about a 10% stake in Goodyear, said the purpose was to “profile the right path forward to create value at Goodyear and realize its full potential.”
Unity Software — Shares summoned about 12.94% after the video game software developer reported its first-quarter results. Unity Software’s gross income of $500 million beat the $480 million expected from analysts polled by Refinitiv. The company also got its full-year revenue outlook.
Tapestry — Shares of the Coach parent jumped 8.27% after the company reported stronger-than-expected earnings and take for its latest quarter. It also issued upbeat guidance for the year that topped estimates.
Robinhood — The stock summed 6.39% after the brokerage reported better-than-expected revenue for the first quarter. Its first-quarter revenue came in at $441 million, versus analyst appraises of $425 million, according to Refinitiv. Robinhood also showed growth of monthly users, which hit 11.8 million.
Sonos — Interests plunged 23.69% on the back of disappointing quarterly results. The company reported an adjusted loss of 24 cents per percentage, while analysts polled by Refinitiv expected a loss of 18 cents per share. The home sound systems producer also reduced its guidance for the second half of the 2023 fiscal year amid weakening consumer demand and lead partner inventory tightening.
JD.com — The U.S.-listed shares of JD.com advanced 7.21% after the Chinese tech firm beat analysts’ first-quarter expectations on the top and basis lines. JD.com reported earnings of CNY4.76 per share, exceeding consensus estimates of CNY3.53. Revenue came in at CNY242.96 billion, higher than outlooks of CNY240.81 billion. Separately, JD.com said that Sandy Ran Xu, who is the company’s current CFO, has been appointed to succeed Lei Xu as CEO and executive manager.
Axon Enterprise — Axon Enterprise gained 6.16% after JPMorgan said the pullback in the stock following its first-quarter dnouement develops on Tuesday is a buying opportunity. The Taser maker slid 15% on Wednesday after reporting some disappointing whole gross margin figures, even as it otherwise beat analysts’ expectations.
Albemarle — The chemical manufacturing stock added 2.06% after being upgraded by Keybanc to overweight from sector load, citing improving trends in China’s lithium market.
— CNBC’s Tanaya Macheel, Hakyung Kim, Yun Li, Alex Harring, Samantha Subin and Sarah Min bestowed reporting.