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And More August 10, 2022 2 mins read

Stocks Making The Biggest Moves: Coinbase, Wendy’s and More

And More ı By Rochdi Rais

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stocks falling

Coinbase – Shares of the crypto services operator soared 6% despite the company reporting a wider-than-expected loss late Tuesday and a decline in volumes in the most recent quarter. The rally followed a rally for bitcoin after a key inflation reading showed a better-than-expected slowdown in rising prices.

Wendy’s –  The restaurant chain saw its shares plummet more than 2% after reporting a revenue miss. U.S. same-restaurant sales rose 2.3% — less than analysts had estimated — as consumers spent more cautiously. Wendy’s earnings in the latest quarter topped estimates, however.

Roblox – Shares of the video game platform slumped 5% in midday trading after postmarket earnings Tuesday missed analyst expectations. Roblox’s quarterly loss was wider than expected, and its bookings, which include sales recognized during the quarter and deferred revenue, fell by 4% year over year.

Twitter – The social media company blasted above 3% after Elon Musk disclosed the sale of nearly $7 billion in Tesla shares in the past few days. Investors are uncertain whether a Delaware Chancery court will force Musk to follow through on his deal to buy Twitter for $44 billion. Shares of Tesla gained more than 2.5%.

Sweetgreen — Shares fell 5% after the salad chain lowered its full-year forecast, and second quarter revenue missed analyst estimates. Sweetgreen also said it laid off 5% of support center employees.

Trade Desk — Shares of the digital advertising firm soared 35% after it gave an upbeat forecast for the current quarter and revenue beat estimates in the quarter just ended.

Fox — The media firm rose 4% even after Fox missed estimates on the top and bottom lines in the latest quarter. Earnings per share came in 1 cent below estimates.

Unity Software — The software company jumped more than 7% after Unity reported an adjusted loss of 18 cents per share, three cents better than estimates, according to Refinitiv. Unity’s revenue and guidance were lower than expected. The stock is now trading within 10% of $58.85 per share, which is the price offered by AppLovin in a nonbinding merger proposal earlier this week.

 

 

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Rochdi Rais

Rochdi Rais is the Head of Growth and financial and legal writer at USA Herald. He has been writing and editing financial, legal and U.S. news for years with over +4000 articles published during his career.

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