Stocks making the biggest moves midday: Twitter, Affirm, Robinhood and more
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Check out the companies making headlines in midday trading.
Twitter — Shares of the social media platform slid 8% after Elon Musk said his take-private deal is on hold until he receives more information about how many fake accounts there are on Twitter. Still, Musk said he was «still committed to the acquisition.»
Affirm — Shares of the buy-now, pay-later lender surged 31.5% after Affirm beat expectations for its fiscal third quarter. The company reported a loss of 19 cents per share on $355 million of revenue. Analysts surveyed by Refinitiv had penciled in a loss of 51 cents per share on $344 million of revenue. Affirm also announced a multiyear extension of its partnership with Shopify.
Robinhood — Shares of the investing app jumped 24.5% on Friday after the CEO of crypto exchange FTX, Sam Bankman-Fried, picked up a 7.6% stake in Robinhood for $648 million after the stock hit an all-time low this week. His new position makes him the third-largest shareholder in the company.
Duolingo — Shares surged 39% after the language software company posted better-than-expected quarterly earnings and revenue. Duolingo issued upbeat quarterly revenue guidance, and reported all-time high active user numbers.
Figs — Figs shares fell 26% on the back of disappointing quarterly results. The health-care apparel maker posted a profit of 5 cents per share on revenue of $110.1 million. Analysts expected earnings of 6 cents per share on sales of $117.3 million, according to StreetAccount. The company also issued weaker-than-expected revenue guidance for the year.
Krispy Kreme — Shares of the doughnut chain popped 10.5% after an upgrade from HSBC. «We expect more pricing and higher scale resulting from an aggressive point of
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