Several companies made headlines in midday trading. Planet Fitness saw a 7.9% jump after reporting first-quarter earnings that beat analysts’ estimates. Yeti also had a strong performance, with a 9.7% increase in shares thanks to better-than-expected financial results. Arm, a British chip designer, fell 1% after issuing revenue guidance that failed to impress investors. Klaviyo surged 15% on strong guidance for second-quarter revenue. Airbnb, on the other hand, tumbled more than 6% after offering weaker-than-expected guidance for the second quarter. AppLovin soared 19% after reporting better-than-expected first-quarter earnings.
SolarEdge, a company in the alternative energy sector, lost 6% after posting a wider-than-expected loss in the first quarter. AMC Entertainment, the movie theater chain, dropped 4.6% after reporting a decline in revenue and attendance compared to the same period last year. Duolingo, a language training platform, slid 17.3% after offering guidance for the current quarter that failed to exceed analysts’ expectations. Bumble, a dating app, saw its shares rise 7% after beating earnings and revenue expectations for the first quarter.
Warby Parker, an eyewear maker, surged 14% following first-quarter results that exceeded expectations. Tapestry, the parent company of Coach and Kate Spade, saw a 2.5% increase in shares after reporting better-than-expected earnings in its fiscal third quarter. Roblox, a video game developer, sank more than 21% after lowering its annual bookings guidance amid a decline in engagement. Forward Air, a logistics stock, plunged 25% after reporting a larger-than-expected loss in the first quarter.
The Cheesecake Factory rallied nearly 9% after beating earnings estimates for the first quarter. Affirm, a buy-now-pay-later stock, bounced 4.9% after being upgraded to overweight by JPMorgan. Norfolk Southern, a railroad company, fell more than 3% after shareholders elected three board members nominated by activist investor Ancora. Equinix, a data center real estate investment trust, climbed 11% after reporting an earnings beat for the first quarter. CEO Charles Meyers attributed the strong performance to the rapidly evolving AI landscape.
