Check out which companies are making the headlines in midday trading.
Rocco – Roku . Arrow decreased by 25% After the company announced the fourth-quarter revenue of that Did not live up to analyst expectations. Roku also released a weaker-than-expected outlook due to higher component prices and supply chain disruptions.
kings Sports betting company DraftKings saw its shares drop nearly 17% after it reported a smaller-than-expected quarterly loss and issued guidance. Expect a wider-than-expected adjusted loss for an entire year.
Bloomin Brands Outback Steakhouse shares jumped more than 7% after the company reported a modest quarterly earnings and revenue outpour. Bloomin also redistributed its quarterly dividend and announced a new $125 million share buyback program.
Virgo Galaxy Virgin Galactic shares fell more than 6% after the announcement of CEO Shamat Palihapitiya He will step down from the board Board members, effective immediately. His special-purpose buyout company Virgin Galactic went public in 2019. Palihapitiya said he is leaving “to focus on current and upcoming general board responsibilities.”
dollar tree – Shares of the discount retailer jumped more than 4% and it was one of the biggest gainers in the S&P 500, after The company announced CEO Bob Sasser will retire and be given the title of Honorary Chairman.
Redfin – Real estate brokerage stocks plunged 25% after RBC Capital Markets downgraded the stock to a sectoral outperformer, He described the bull’s condition of the stock as “broken”. Redfin on Thursday reported a smaller-than-expected fourth-quarter loss and outpaced revenue. Real estate services unit and gross profit margins exceeded expectations.
Shake Shack The restaurant chain’s shares fell 5% after the company released quarterly revenue Guidance below estimates, noting that labor shortage challenges arising from the omicron variable have led the company to close restaurants. Shake Shack said it expects revenue of between $196 million and $201.4 million for the first quarter, compared to estimates of $210.9 million.
The pride of the pilgrim – Shares of the poultry production company fell more than 14% after the Brazilian meatpacking company JBS pulled out of its plans to buy the remaining 20% of the company it does not already own, saying that the two sides could not agree on the terms of the deal.
stronghold – Shares of the automaker rose more than 2% after a report that CEO Jim Farley is evaluating options for Separating the company’s electric car A unit of its old internal combustion engine works, and it can even weigh a portion of one of them.
General Electric – The electric company saw its shares fall nearly 6% after it provided earnings forecasts for 2022 saying supply chain challenges continue to pressure the healthcare, renewable energy and aviation businesses and could continue through the first half of 2022. As a result, headwinds may continue The supply chain is in partial disguise of the significant progress we are making across our business,” the company said in an 8-K filing.
CNBC’s Hana Miu contributed to this report
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