Thursday, July 25, 2024

Lyft, Carvana, Discovery by Warner Bros., Draft Kings


Confetti falls as Lyft Logan Green CEO (C) and President John Zimmer (LEFT C) ring the Nasdaq opening bell to celebrate the company’s initial public offering (IPO) on March 29, 2019 in Los Angeles, California. Shares of the migration apps company were initially priced at $72.

Mario Tama / Getty Images

Check out which companies are making the headlines at midday Friday.

Discover Warner Bros. The media company’s shares fell 15.8% after Warner Brothers published its first earnings report since its merger. Discover Warner Bros. too It said it plans to merge streaming services HBO Max and Discovery +.

Lift Lyft shares rose 14.2 percent after sharing an unexpected fourth-quarter profit. Revenue decreased in line with estimates.

Beyond the meat The plant-based meat manufacturer’s inventory rose 22.7 percent even after the company shared last-quarter results that missed top and bottom results. Beyond Meat also said it has cut 4% of its workforce.

Carvana Shares of the online used car dealership rose 32.5% on Friday as the company said it would sharply cut costs in preparation for an economic slowdown.

roadblock Shares of Malik Square lost more than 2% on the back of a 34% drop in cash app revenue in the previous quarter. The decline was overshadowed by stronger-than-expected earnings.

kings The sports betting company jumped 11% after it reported better-than-expected revenue and revised earnings for the fourth quarter. DraftKings also raised its full-year revenue forecast despite the bleak overall outlook.

Basic Stocks down 5% after that JPMorgan downgraded Paramount to below neutral, referring to the larger overall challenges facing the media company. Paramount reported strong second-quarter earnings this week, but lower income and free cash flow numbers weighed on results.

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DoorDash – shares The food delivery company is trading slightly lower, giving up earlier gains, as investors digested a quarterly report that showed a larger loss per share than expected. DoorDash lost 72 cents a share in the second quarter, more than the 41 cent loss analysts had expected, according to Refinitiv. But its returns exceeded expectations.

AMC Entertainment Theater Series It rose 13% after announcing late Thursday that it intends to issue a dividend In the form of preferred stock, under the symbol “APE”. The move comes after investors rejected the company’s efforts to issue additional shares last year as a way to raise funds.

sunron Stocks jumped 7% after Barclays started coverage of the residential solar installer with an overweight rating. investment company Sunrun shares could rise on the back of ambitious clean energy bill It can “launch a supported long growth cycle” if passed. Sunrun also reported earnings this week that beat analysts’ expectations, according to FactSet.

Virgo Galaxy Shares fell 15% after the company said it was delaying the commercial launch of spaceflight until the second quarter of 2023. Virgin Galactic shares lowered To a sell rating as the company continues to operate through cash flights and flight delays.

Twilio Twilio stock fell 13% Although revenue outperformed after a communications software company shared poor guidance for the current period. Following the report, Stifel downgraded the technology company’s stock to a holdover and cut its target price for the stock in half.

iRobot – shares iRobot jumped more than 19% after Amazon announced its plans to acquire an automated vacuum maker for $1.7 billion, or $61 a share.

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CNBC’s Sarah Min, Tanya Machel, Yoon Lee and Michelle Fox contributed reporting.



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