Stocks making the biggest moves midday: Sweetgreen, Doximity, E.l.f. Beauty and more
Check out the companies making headlines in midday trading: Sweetgreen — Shares of the salad chain popped more than 33% after the company reported second-quarter revenue of $184.6 million, topping the $181 million consensus estimate, per LSEG. Sweetgreen also gave full-year revenue guidance of $670 million to $680 million. Analysts were expecting guidance of $674 million. Doximity — Shares jumped more than 38% after the digital health company reported first-quarter earnings that surpassed expectations. Doximity posted 28 cents per share, excluding items. That is more than the 22 cents per share that analysts polled by FactSet were expecting. E.l.f. Beauty — E.l.f. Beauty shares sank more than 14% after new guidance pointed to slowing growth for the cosmetics company. Unity Software — Shares surged more than 8% after the company beat second-quarter earnings and revenue expectations. Unity posted a loss of 32 cents per share on revenue of $449 million. That is better than the loss of 42 cents per share on $440 million in revenue that analysts surveyed by LSEG were expecting. The Trade Desk — The stock popped 12.5% after the ad-buying company raised its third-quarter revenue outlook. The Trade Desk now anticipates revenue of at least $618 million, well above the LSEG estimate of around $604 million. The company also beat earnings expectations for the second quarter. Capri Holdings — Shares fell nearly 5% after the fashion company behind Versace and Michael Kors reported weaker-than-expected fiscal first-quarter results. Capri Holdings posted adjusted earnings of 4 cents per share on revenue of $1.07 billion, missing the LSEG estimate of 59 cents per share on revenue of $1.16 billion. Expedia — The stock moved more than 10% higher following the travel company’s earnings and revenue beat. Expedia reported adjusted earnings of $3.51 per share, versus the $3.06 per share LSEG consensus estimate. Revenue was $3.56 billion, above the $3.53 billion expected by analysts. Take-Two Interactive Software — Shares were up more than 4% after the video game maker reiterated its full-year bookings and earnings guidance. Akamai Technologies — The stock rose nearly 11% after the cloud company reported better-than-expected second-quarter results. Akamai posted adjusted earnings of $1.58 per share on revenue of $980 million. According to LSEG, analysts expected $1.53 per share on $977 million in revenue. Akamai also raised its full-year outlook, expecting earnings of $6.34 to $6.47 per share, excluding items. Insulet — Shares of the insulin device company fell nearly 9% after management said on an earnings call that it was seeing slower new patient growth due to less switching over from competitors. Insulet had already preannounced its quarterly results in July. Paramount Global — The media conglomerate climbed around 1% after the company announced it is cutting 15% of its U.S. workforce, or about 2,000 jobs. Meanwhile, Paramount’s quarterly earnings topped analysts’ expectations, but it posted a miss on revenue. CyberArk — Shares rose nearly 4%, continuing to climb on the back of the cybersecurity company’s Thursday earnings report. Bank of America raised its price target on the stock following the release and called it “a diamond in the rough.” — CNBC’s Alex Harring, Samantha Subin, Yun Li, Jesse Pound, Pia Singh and Michelle Fox contributed reporting. This post has been syndicated from a third-party source. View the original article here.
