Stocks moving big midday: LYFT, SPOT, EXPE, YELP

Stocks moving big midday: LYFT, SPOT, EXPE, YELP

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Check out the companies making headlines in midday trading.

lyft — Ridesharing stock plummeted 36.4% after releasing disappointing first-quarter guidance. Lyft was also hit by a series of downgrades from analysts who said Uber appeared better positioned to benefit from the broader ride-sharing recovery. Over Shares were also down 4.4%.

Spotify — The music streamer’s shares rose 3.6% after it was announced that ValueAct had acquired a stake in the company. Spotify recently reported fourth-quarter results that showed strong user growth.

Expedia — The travel company’s stock fell 8.6% after it failed to meet analysts’ sales and earnings expectations for the most recent quarter. Expedia posted adjusted earnings of $1.26 per share on revenue of $2.62 billion. Analysts called for earnings of $1.67 per share on sales of $2.70 billion, according to Refinitiv.

howl — According to Refinitiv, Yelp’s stock rose 3.2% after fourth-quarter revenue beat analysts’ expectations. The company is reporting earnings that are within the range of estimates.

Confirm — Buy ​​now, pay later stock fell 5.8% after Morgan Stanley downgraded it to equal weight from an overweight rating. The Wall Street firm said Affirm’s offerings appear too concentrated.

PayPal — PayPal shares traded 3% higher after CEO Dan Schulman announced plans to exit the online payments company by the end of the year.

VF Corp — Shares rose 0.9% after Stifel upgraded the clothing maker to a buy from a hold position. Stifel said the company, which is the parent company of brands like Vans and The North Face, had an attractive share price after a sell-off due to a dividend cut.

FREYR battery — Shares of the battery maker rose 1.5% after Bank of America began covering the stock with a buy rating. Bank of America said the startup’s battery cell design and ability to raise capital made it a strong candidate to grow into a larger company.

cloud flare — The cybersecurity stock gained nearly 3.3%. Late Thursday, Cloudflare released beats on the top and bottom lines for the fourth quarter. The company earned an adjusted 6 cents a share on sales of $275 million. Analysts polled by Refinitiv were expecting 5 cents a share and $274 million in revenue. Cloudflare’s full-year revenue guidance also beat estimates.

Deutsche Bank – Shares fell 3% after Bank of America downgraded Deutsche Bank from neutral to underperforming, saying the European bank was “struggling to improve profitability.”

Newell brands — Shares in consumer goods were recently up 1.2%. According to StreetAccount, Newell missed first-quarter and full-year EPS and revenue guidance, which missed analyst estimates. CEO Ravi Saligram also announced his resignation effective May 16.

Motorola solutions — Shares rose 5.6%, according to FactSet, after Motorola Solutions beat analysts’ expectations on both revenue and earnings for the most recent quarter.

doximity — Doximity shares fell nearly 13% on the lighter-than-expected guidance for the current quarter and full year. The decline in shares came despite beating analyst expectations at the top and bottom, according to FactSet.

Top golf Callaway brands Shares of the golf company fell 2.6% after the company posted a loss per share of 27 cents excluding special items. Adjusted earnings before interest, taxes, depreciation and amortization for the fourth quarter came in below analysts’ expectations, according to FactSet.

– CNBC’s Jesse Pound, Alex Harring, Michelle Fox, Sarah Min and Yun Li contributed coverage