Coinbase, AMTD Digital, Restaurant Brands, Alibaba and more

A Burger King restaurant seen in Milton, Pennsylvania.

Paul Weaver | SOPA images | LightRocket | Getty Images

Check out the companies making the biggest moves in midday trading on Thursday:

Coinbase — Shares of the cryptocurrency exchange rose about 15% after the company announced a partnership with BlackRock, the world’s largest asset manager, that will allow its institutional clients to buy bitcoin. The ticker COIN also became one of the most mentioned names on Reddit’s WallStreetBets forum, according to Quiver Quantitative. Earlier in the day, the stock rose as much as around 40 per cent.

Yeti – Yeti shares fell about 17% after the vacuum-insulated beverage maker reported earnings that missed expectations. Yeti said its direct-to-consumer sales were softer than expected.

AMTD Digital — The Hong Kong-based fintech company’s ADRs fell 43% as the speculative rally fueled by retail investors fizzled. The name was caught in a trading frenzy over the past week with the ticker trending on social media platforms. Despite the sell-off, the stock is still up 7,800% from its mid-July IPO of $7.8.

Crocs – Shares of Crocs fell 13% despite the shoe company beating expectations on the top and bottom lines. Crocs shared bright revenue guidance for the third quarter. The shoe company also trimmed full-year guidance.

Shake Shack — Shares fell nearly 8% after the restaurant chain reported quarterly results that missed revenue expectations. Shake Shack said a slowdown in return for work schedules hurt results.

Restaurant Brands International – The parent company of Burger King, Tim Hortons and Popeyes rose more than 6% Thursday after the company reported better-than-expected earnings before the bell. Global same-store sales grew 9%, driven by the performance of Burger King and Tim Hortons.

Alibaba – The Chinese e-commerce giant’s U.S.-listed shares rose 2% after the company reported first-quarter financial earnings that beat expectations. The gains were limited, however, as this is the first time the company has had flat growth in its history. Alibaba faced a number of headwinds, including a resurgence of Covid in China.

MercadoLibre — Shares of the Latin American e-commerce company rose more than 15% after MercadoLibre reported earnings after hours Wednesday. Revenue was $2.60 billion, versus StreetAccount’s estimate of $2.51 billion. MercadoLibre said the growth came mainly from the expansion of its advertising business and its strength in third-party marketplace categories.

DXC Tech — The technology services company’s stock, which fell about 20% in midday trading, hit a 52-week low on Thursday. DXC Tech reported earnings that missed expectations. Earnings per per share for the most recent quarter was 75 cents, compared with the StreetAccount estimate of 81 cents.

Ceridian HCM Holding — Shares of the human capital management software firm rose 9%. Ceridian posted quarterly results after midnight Wednesday that beat expectations. The company cited significant improvement in profitability and scale as well as continued momentum across all segments.

DISH Network — The satellite broadcaster is up more than 5% on the day after reporting better-than-expected results for its latest quarter. The move also follows a report from Bloomberg on Thursday that the company’s new wireless service will begin taking online consumer signups as early as August 8.

Fortinet — Shares fell 16% after the cybersecurity company maintained its full-year revenue guidance. Free cash flow came in more easily than expected, as did service revenue, according to StreetAccount. Fortinet otherwise delivered an earnings beat in its second quarter.

Clorox — Shares of the consumer goods giant fell nearly 6% after reporting earnings that missed expectations. Revenue came in at $1.80 billion, versus StreetAccount estimates of $1.86 billion.

—CNBC’s Yun Li, Tanaya Macheel, Fred Imbert and Sarah Min contributed reporting.

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