Affirm — Affirm shares jumped 17% a day after the fintech company reported fiscal first-quarter revenue that topped expectations. Affirm posted $496.5 million in revenue, more than the $444.5 million consensus estimate, according to FactSet.
Virgin Galactic Holdings — Shares rallied more than 20% a day after the company announced its cost-savings initiative, which includes pausing spaceflight operations next year. The company also laid off about 18% of its workforce. Shares are down nearly 42% year to date.
Duolingo — Duolingo shares surged 17% a day after the education technology company hiked its forecast for the full year. Duolingo estimates revenue will come in at $525 million to $528 million in 2023, compared with earlier guidance of $510 million to $516 million. The company also raised its outlook for bookings for the year.
TransDigm Group — Aerospace and defense company TransDigm Group jumped about 9% on Thursday. The company posted fiscal fourth-quarter earnings and revenue that topped estimates. It posted adjusted per-share earnings of $8.03, greater than the consensus estimate of $7.55, according to FactSet. It issued revenue of $1.85 billion, slightly higher than the forecast $1.84 billion.
Disney — Shares of Disney advanced 7% in midday trading. The media conglomerate expanded its cost-cutting measures by $2 billion, and reported stronger-than-expected adjusted earnings for the fiscal fourth quarter. However, revenue fell short of expectations.
Valaris — Shares of the offshore drilling company jumped 3.6% after Barclays upgraded shares to overweight from equal weight. The upgrade came on the back of the company’s third-quarter results earlier in the week.
Arm Holdings — Arm shares dropped 6% in midday trading. On Wednesday, the semiconductor technology company said fiscal third-quarter adjusted earnings would range between 21 cents and 28 cents per share, while analysts polled by FactSet called for 27 cents per share.
Becton, Dickinson and Company — Shares dropped more than 8% after Becton, Dickinson and Company reported disappointing quarterly earnings. The medical technology company posted adjusted earnings of $3.42 per share, lower than the $3.43 per share anticipated by analysts polled by LSEG, formerly Refinitiv. Revenue was $5.09 billion, topping the $5.02 billion estimate.
Krispy Kreme — The stock tumbled about 7% in midday trading after the donut maker missed third-quarter analyst expectations. Krispy Kreme reported adjusted earnings of 3 cents per share on revenue of $407 million, lower than the 6 cents per share on $414 million forecast by analysts polled by LSEG.
AMC Entertainment — AMC Entertainment shares dropped 12% after the company said it planned to sell more stock, up to $350 million worth.
Amylyx Pharmaceuticals — The biopharmaceutical stock tumbled 30% on the back of a worse-than-expected earnings report. Amylyx posted 30 cents per share in earnings and $102.7 million in revenue in the third quarter, while analysts surveyed by FactSet anticipated 44 cents per share in earnings and revenue at $113.7 million.
