Global Courant
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Take a look at the companies that take the biggest steps in the afternoon.
To confirm — Shares of the payments company rose 6% after Affirm and Amazon announced a new compatibility feature. Affirm’s Adaptive Checkout, which offers customers pay-over-due plans, is now becoming a payment option through merchants offering Amazon Pay.
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stitch fix — The stock rose about 32% after the online personalized styling service company reported a smaller-than-expected loss for its fiscal third quarter. Stitch Fix reported a loss of 19 cents per share, compared to analysts’ expected loss of 30 cents per share, according to Refinitiv. Sales also exceeded expectations.
Warner Bros. Discovery — Shares rose 5% following the announcement that Chris Licht, CEO of Global Courant, is leaving the company after a tumultuous reign of just over a year.
Dave & Busters — Shares of the entertainment giant were up 18% in a day after Dave & Buster’s posted a hit to earnings. The company reported first-quarter earnings of $1.45 per share, while analysts polled by Refinitiv had expected $1.24 per share. Revenue, however, fell short of expectations and came in at $597 million, versus Wall Street’s $602 million estimate.
GameStop — The meme share added 3.6% to quarterly results after Wednesday’s close. Analysts polled by FactSet predict a quarterly loss of 15 cents per share.
Petrobras — Shares were up 2% after Morgan Stanley upgraded the Brazilian oil giant from an equal weight to overweight. The Wall Street firm said Petrobras could deliver a larger dividend to investors this year than in the past.
Tesla — Shares added 1.5% after the electric vehicle maker posted an update to its website showing that new Model 3 and Model Y cars are eligible for a $7,500 tax credit from the Inflation Reduction Act.
Yext — Shares of the online marketing company rose more than 38% in midday trading on the back of disappointing earnings. On Tuesday, the company reported an adjusted 8 cents per share on $99.5 million in revenue, while analysts forecast 5 cents and $98.5 million, according to FactSet.
Super micro computer — The chip stock added 2% after Rosenblatt started coverage with a Buy rating and a $300 price target, representing a nearly 29% gain from Tuesday’s close. The Wall Street firm named Super Micro Computer one of the top beneficiaries of artificial intelligence.
Campbell Soup — Shares fell more than 7% after the company reaffirmed its full-year guidance of $2.95 to $3.00 for adjusted earnings per share, below the $3.01 expected by analysts surveyed by StreetAccount have been questioned. However, Q3 fiscal profit beat estimates, while sales were in line.
Mobileye Global — Autonomous vehicle technology share added about 4% after Canaccord Genuity started coverage with a Buy recommendation. The Wall Street company called Mobileye a sustainable play that will also improve supply chains.
Coin base — The crypto exchange gained 2.7%, after losing 12% in the previous session. The U.S. Securities and Exchange Commission sued Coinbase on Tuesday, alleging that the company was operating as an unregistered exchange and broker. Ark Invest’s Cathie Wood picked up shares after the news Tuesday.
— CNBC’s Jesse Pound, Brian Evans, and Darla Mercado contributed to the reporting.
