Check out the companies making headlines in midday trading.
Unity Software — The stock plunged more than 33% after the video game software company posted revenue below expectations. Unity Software reported $320 million in revenue in the first quarter, while analysts surveyed by Refinitiv expected $322 million.
Coinbase — Shares sank 23% after Coinbase reported first-quarter revenue below expectations. Coinbase posted revenue of $1.17 billion versus the Refinitiv consensus estimate of $1.48 billion. The company said lower crypto asset prices and market volatility impacted first-quarter results.
Electronic Arts — The video game publisher’s shares jumped 11% after the company posted its recent earnings and announced it will end its partnership with FIFA. MoffettNathanson analysts recommended shares of Electronic Arts because of the company’s stable foundation to weather market volatility ahead.
Roblox — Shares of the online gaming platform jumped more than 7% despite weaker-than-expected quarterly results. Roblox reported a loss of 27 cents in its most recent quarter, compared with a loss of 21 cents expected by analysts polled by Refinitiv. Revenue came in at $631.2 million, compared with the $645 million consensus estimate from Refinitiv.
Wendy’s — The fast-food chain’s shares sank 9% after Wendy’s missed first-quarter estimates on the top and bottom lines. The company reported an adjusted 17 cents in per-share earnings on $489 million of revenue. Analysts surveyed by Refinitiv had penciled in 18 cents per share on $497 million of revenue. U.S. sales growth was just 2.4% despite a rising number of total restaurants, and the margins at company-operated restaurants declined.
The RealReal — Shares of the secondhand luxury seller dropped 13% after the company reported a wider-than-expected loss for its most recent quarter. The RealReal said it’s poised to benefit from rising prices that could be reflected in the prices of new luxury goods.
Krispy Kreme — The doughnut stock jumped more than 6% after a better-than-expected first quarter. Krispy Kreme reported adjusted per-share earnings of 8 cents on $373 million of revenue. Analysts surveyed by Refinitiv were expecting 7 cents per share and $368 million of revenue. The company’s operating income margin expanded year-over-year.
Occidental Petroleum — The stock rose more than 2% after a better-than-expected quarterly report. Occidental reported first-quarter earnings of $2.12 per share on revenue of $8.53 billion. Analysts had expected a profit of $2.03 per share on revenue of $8.08 billion, according to Refinitiv.
Perrigo — The pharmaceutical stock climbed more than 6% after Perrigo’s first-quarter revenue came in higher than expected. The company also hiked its full-year net sales growth guidance to 8.5%-9.5% from 3.5%-4.5%, due to an acquisition, as well as its organic sales growth guidance. First-quarter earnings per share did miss expectations, however.
H&R Block — The tax prep company saw shares jump 17% after reporting better-than-expected earnings and revenue for the most recent quarter and issued positive financial guidance on upbeat results from tax season.
— CNBC’s Hannah Miao, Jesse Pound and Sarah Min contributed reporting.
