In midday trading, several companies are making significant headlines. Affirm’s shares surged by 17%, following their fiscal first-quarter revenue report that exceeded expectations. Virgin Galactic Holdings saw a 20% rally after announcing cost-saving initiatives, including pausing spaceflight operations next year and laying off 18% of its workforce. Duolingo also experienced a 17% surge in shares, as it raised its forecast for the full year. Aerospace and defense company TransDigm Group’s stock jumped about 9% on the back of better-than-expected fiscal fourth-quarter earnings and revenue. Disney’s shares advanced by 7% as the media conglomerate expanded its cost-cutting measures and reported stronger-than-expected adjusted earnings for the fiscal fourth quarter, despite falling short of revenue expectations.
On the other hand, Becton, Dickinson and Company saw its shares drop more than 8% after reporting disappointing quarterly earnings. Additionally, Krispy Kreme’s stock tumbled by 7% as they missed third-quarter analyst expectations. AMC Entertainment shares also dropped by 12% after announcing plans to sell up to $350 million worth of stock. Amylyx Pharmaceuticals experienced a 30% drop in its stock price following a worse-than-expected earnings report.
Barclays upgraded the shares of offshore drilling company Valaris to overweight from equal weight, leading to a 3.6% jump in their stock. However, Arm Holdings’ shares dropped by 6% in midday trading after the company announced lower-than-expected adjusted earnings for the fiscal third quarter. This information comes from CNBC’s Lisa Han, Alex Harring, and Hakyung Kim, who contributed to this report.
I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years. I have a wealth of knowledge to share with my readers, and my goal is to help them navigate the ever-changing world of cryptocurrencies.
