Exercise equipment and apparel for sale at the Peloton showroom in Dedham, Massachusetts on Wednesday, February 3, 2021.
Adam Glanzmann | Bloomberg | Getty Images
Check out the companies making the biggest moves at noon:
Peloton – Peloton’s shares rose 6% after the company told employees it would cut about 780 jobs, raise prices on some devices and close a number of retail stores.
Illumina — The gene sequencing technology company fell more than 9% after reporting lower-than-expected second-quarter earnings and sales. Illumina also issued an outlook that fell short of analyst estimates.
NEW YORK TIMES — Shares of the newspaper fell 3%, backing off a nearly 11% rally in the previous session. Thursday’s rally came after activist investor ValueAct Capital took a 6.7% stake, pushing the publisher to charge more for subscriber-only content.
Toast – Shares of the payments technology company soared more than 12% after it raised its earnings outlook for the year. The company also reported a loss for the most recent quarter, but it was smaller than analysts had expected.
Rivian – Shares of the electric-vehicle maker are up nearly 1% after beating sales expectations and posting a lower-than-expected loss per share in the most recent quarter. Rivian reiterated its delivery forecast for the year and expects a larger-than-expected loss.
Poshmark – The online fashion retailer saw its shares fall almost 10% after releasing a weaker-than-expected sales guidance for the current quarter. Although the company posted a loss in the second quarter, sales exceeded analysts’ expectations.
Teladoc — Teladoc’s shares rose more than 5% after DA Davidson opened coverage of the telemedicine company with a buy rating.
Olo – The restaurant software maker slumped 33% after weaker-than-expected revenue prospects for the current quarter and full year. Additionally, Olo’s second-quarter earnings missed expectations.
Alliant Energy – The Wisconsin-based utility rose nearly 2% after being upgraded to buy from neutral by Bank of America. The company increased its price target to $70 from $62, noting that Alliant Energy is poised to be one of the winners of the Inflation Reduction Act.
LegalZoom — Shares rose nearly 22% after the online legal platform released quarterly earnings that beat analysts’ expectations after Thursday’s bell. While second-quarter revenue increased 9% year over year, the company reported a net loss of $13.2 million for the quarter.
Six Flags – Shares of the theme park company began recovering from an 18.7% loss on Thursday, but were up nearly 8% on Friday. Six Flags on Thursday reported second-quarter earnings that fell well short of expectations and was downgraded to sector weight from overweight by Keybanc on Friday.
China ADRs – Five Chinese ADRs saw prices fall after they filed for delisting of their ADRs in the US. Aluminum Corporation of China fell 2.6%, PetroChina 3.2% and a separate Sinopec unit, Sinopec Shanghai Petrochemical Co, lost 2.8%.
– CNBC’s Carmen Reinicke, Samantha Subin, Sarah Min, Yun Li and Tanaya Macheel contributed coverage.