Marqeta headquarters in Oakland, California.
Yalonda M. James | San Francisco Chronicle | Hearst Newspapers via Getty Images
Check out the companies that are making the headlines in midday trading.
Opendoor – Opendoor rose 24% after reporting a quarterly loss of 24 cents per share, 10 cents less than analysts’ estimates. Late on Wednesday, the home buying and selling company also reported better-than-expected earnings and issued an optimistic sales forecast for the current quarter.
Marqeta – Shares in Marqeta, the card issuing platform behind Square and “buy now, pay later” brands like Affirm and Klarna, fell more than 8% following the initial release of quarterly results as a publicly traded company. On Wednesday the company reported a loss of 29 cents per share. It also showed 350% growth in its “buy now, pay later” business, despite a key member of that cohort, Afterpay, having agreed to be acquired by Square.
Coinbase – The cryptocurrency exchange’s stock fell more than 7% as Bitcoin price fell below $ 45,000. Coinbase’s revenue comes mostly from trading fees, and the company’s share price tends to trade in parallel with Bitcoin price. The stock jumped higher earlier this week after reporting a profit breakout.
Bumble – Bumble’s shares rose roughly 6% after the online dating platform reported mixed financial results for the second quarter. Bumble reported a loss of 6 cents per share, while analysts expected a profit of 1 cent per share, according to Refinitiv. However, the company reported sales of $ 186.2 million, beating Wall Street’s estimate of $ 178.7 million. Bumble also raised its revenue guidance for the third quarter and full year.
Hims & Hers Health – The telehealth platform operator’s shares rose over 10% after the company posted a smaller quarterly loss than expected. Hims & Hers lost 3 cents per share in the second quarter, less than analysts’ 9-cent loss estimate, Refinitiv said. Sales also exceeded expectations.
Micron – The semiconductor company’s stocks fell more than 6% after Morgan Stanley downgraded the stock from overweight to equal weight. The investment firm announced in a statement to its customers that the memory chip market is on the verge of a downturn that will affect Micron and its competitors.
Lordstown Motors – Lordstown Motors’ shares were up nearly 3% despite the company posting an unexpectedly high quarterly loss of 61 cents per share. The electric vehicle manufacturer announced that it would start limited production of its endurance pickup at the end of September.
Palantir – Palantir stocks rose more than 11% after the data analytics firm reported quarterly sales that exceeded Wall Street expectations. Revenue increased 49% year over year in the second quarter.
Sonos – The maker of audio products posted a price jump of about 7%, which was 12 cents per share, according to its earnings report late Wednesday. Analysts surveyed by Refinitiv expected a loss of 17 cents per share. Sonos also posted strong revenues of $ 378.7 million, compared to an estimate of $ 313.6 million. CEO Patrick Spence said in a statement, “As more video content goes straight to the home, consumers are demanding a cinema-like audio experience in the home.”
– CNBC’s Hannah Miao, Jesse Pound and Yun Li contributed to the coverage
Become a smarter investor with CNBC Pro.
Get stock picks, analyst calls, exclusive interviews and access to CNBC TV.
Sign in to get started Try it for free today