Check out the companies making the biggest moves midday:
Roblox — Shares added 6% after the video game company reported bookings, or revenue, of $774 million, topping the $766 million expected from analysts polled by Refinitiv. Average daily active users reached 66 million, a 22% year-over-year increase. However, Roblox reported a loss of 44 cents per share, larger than the 40 cents loss per share expected by analysts.
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Icahn Enterprises — Carl Icahn’s conglomerate saw its stock drop more than 15% after a regulatory filing revealed the U.S. Attorney’s office for the Southern District of New York contacted the company seeking information about corporate governance and other materials. Regulators sought information a day after notable short seller Hindenburg Research took a short position against Icahn’s company, alleging “inflated” asset valuations.
Rivian — Shares of the electric vehicle maker added nearly 4% on Wednesday. On Tuesday, the company reported a smaller-than-expected quarterly loss and said it expects to still meet forward guidance targets. Its revenue of $661 million topped the $652 million expected from analysts polled by Refinitiv.
Airbnb — The vacation booking stock plummeted 10% the day after the company shared a soft outlook. While Airbnb beat top-and-bottom line expectations for the first quarter, it warned of lower average daily rates in the second quarter and slower growth in nights booked compared to a year ago.
Twilio — Shares sank 15%. On Tuesday, the software company announced its revenue forecast for the second quarter, which came in lighter than expected. Twilio anticipates between $980 million and $990 million in revenue, while analysts polled by Refinitiv were expecting $1.05 billion in revenue.
Syneos Health — The stock popped 8.7% after news that it will be acquired by a consortium of private equity firms, including Elliott Investment Management and Veritas Capital. The group will pay $43 a share.
Dutch Bros — Shares of the drive-through coffee chain dropped 9%. On Tuesday, the company reported same-store sales and revenue for the first quarter missed analysts’ expectations, according to FactSet.
Celsius Holdings — Shares jumped 22%. On Tuesday, the energy drink company posted earnings per share of 40 cents for the first quarter, more than doubling the 19 cents per share expected from analysts polled by FactSet. Revenue also beat analysts’ expectations. Bank of America upgraded the stock to buy from neutral as a result.
Occidental Petroleum — The oil giant’s stock dipped 3.9%. On Tuesday, Occidental posted first-quarter adjusted earnings per share of $1.09, which is less than the $1.24 estimate from analysts polled by FactSet.
Akamai Technologies — Akamai Technologies jumped 7.7% the day after the cloud services provider reported adjusted earnings of $1.40, greater than analysts’ calls for $1.32 per share, according to FactSet. The company posted revenue of $915.7 million, higher than expectations of $910.5 million. Akamai’s CEO, Dr. Tom Leighton, said the firm had “a strong start to 2023,” while reaching a “significant milestone during the first quarter when, for the first time in Akamai’s 25-year history, security became our largest revenue stream.”
First Citizens BancShares – Shares of the bank advanced nearly 9% after the company posted financial results for the first quarter, which included an increase in deposits, thanks in part to the $49.26 billion it acquired from Silicon Valley Bank in March.
Topgolf Callaway Brands – Shares of the golf company tumbled more than 17%. On Tuesday, Topgolf lowered its earnings per share guidance for the full year, which is now below analysts’ estimates, according to FactSet.
Rockwell Automation — The industrial technology company’s stock shed 3% following a report in The Wall Street Journal that said the Biden administration is investigating whether the industrial technology company exposed U.S. military, infrastructure and government assets through one of its facilities in China. Rockwell Automation told CNBC there has been “no report or other indication that these practices and protocols have been breached or that any of our products have been intentionally compromised” and that it has not been notified of any investigation regarding the company’s work in China.
—CNBC’s Brian Evans, Yun Li, Alex Harring, Samantha Subin, Sarah Min and Tanaya Macheel contributed reporting.
