News

Coinbase and Virgin Galactic are the Midday’s most active stocks

  • 11 August, 2021
  • 8:03 pm EEST

Coinbase — After posting solid second-quarter results for the second time as a public business on Tuesday night, the crypto services company’s stock rose 5.4% in noon trade. Coinbase reported earnings of $3.45 per share, exceeding Wall Street expectations, and revenue of $2.23 billion, up from $178 million a year ago.

Virgin Galactic — is a company that specializes in space travel. After Morgan Stanley cut the stock to underweight, shares of the space exploration business fell more than 13%. The investment firm said in a note that the stock would fall when the company enters a months-long period with no flights later this year.

World Wide Web — WW’s stock plunged 28% after the company’s top and bottom lines underperformed forecasts in the second quarter. The number of subscribers was also lower than expected by management. Following the revelation, investment firm Jefferies cut the stock from buy to hold, citing a “near-term stall” for WW.

Nucor — is a company that manufactures steel. After the Senate passed a $1 trillion infrastructure bill, the steelmakers shares jumped about 3%, making it a significant winner for the second day in a row. According to CNBC’s Jim Cramer, the advantage of the bill has yet to be factored into steel stocks.

NortonLifeLock — The cyber security firm’s stock jumped more than 8% after it revealed a plan to buy Avast, an antivirus company based in Europe. According to the release, the purchase is worth more than $8 billion in cash and equity.

Perrigo — The consumer health products company’s stock dropped more than 12% after its second-quarter earnings fell short of forecasts. On $981 million in revenue, the company made 50 cents per share during the period. Refinitiv polled analysts, who predicted 61 cents on the dollar and $1.02 billion in revenue. Sales growth was hampered by a “historically weak cough/cold season,” according to the business.

FuboTV – The streaming video stock jumped 7.8% after the company’s second-quarter sales above forecasts and it raised its guidance. The company stated it had more than 681,000 users at the end of the quarter, growing 138% year over year.

Moderna — The pharmaceutical company’s stock has been turbulent since the delta variation became widely known in the United States, plunging about 15%. This would be the seventh day in August that the market has moved more than 5% in either direction.

Canada Goose — Shares of the luxury outerwear company fell more than 13% as the company maintained its cautious sales projection despite rising expenses and persistent Covid problems. According to Refinitiv, Canada Goose had a better-than-anticipated quarter, with an adjusted net loss per diluted share of 45 cents (Canadian), lower than the 53 cent loss expected by analysts.

Wendy’s — Shares of the fast food chain rose 2.6% on Wednesday after the company’s second-quarter report came in better than expected. Wendy’s earned an adjusted 27 cents per share on $493 million in revenue for the quarter. Analysts surveyed by Refinitiv were expecting 18 cents per share on $462 million in revenue.

Poshmark — Shares of the online fashion marketplace plunged more than 13% despite the company reporting better-than-expected second-quarter financial results. Poshmark posted a loss of 4 cents per share on revenue of $81.8 million versus analysts’ estimate of a 6-cents per-share loss on revenue of $80.3 million. The company issued third-quarter venue guidance below Wall Street expectations and warned Apple’s new privacy controls would hurt its business.

 

 

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