Take a look at the companies that make the headlines for midday trading.
Unity Software: Shares plunged more than 33% after the video game software company posted earnings below expectations. Unity Software reported $320 million in revenue in the first quarter, while analysts surveyed by Refinitiv expected $322 million.
Coinbase: Shares sank 23% after Coinbase reported Q1 revenue below expectations. Coinbase posted revenue of $1.17 billion versus Refinitiv’s consensus estimate of $1.48 billion. The company said lower crypto asset prices and market volatility weighed on first-quarter results.
Electronic Arts: Shares of the video game publisher jumped 11% after the company released its recent earnings and announced that it will end its partnership with FIFA. Analysts at MoffettNathanson recommended shares of Electronic Arts due to the company’s stable base to weather the coming market volatility.
Roblox: Shares of the online gaming platform rose more than 7% despite weaker-than-expected quarterly results. Roblox reported a 27-cent loss in its most recent quarter, compared with a 21-cent loss expected by analysts surveyed by Refinitiv. Revenue came in at $631.2 million, compared to Refinitiv’s consensus estimate of $645 million.
Wendy’s: Shares of the fast-food chain sank 9% after Wendy’s missed first-quarter estimates on top and bottom results. The company reported adjusted earnings of 17 cents per share on $489 million of revenue. Analysts surveyed by Refinitiv had estimated 18 cents a share on $497 million of revenue. US sales growth was only 2.4% despite an increase in the total number of restaurants, and margins at company-operated restaurants declined.
The RealReal: Shares of the second-hand luxury goods seller fell 13% after the company reported a larger-than-expected loss in its latest quarter. RealReal said it is prepared to benefit from higher prices that could be reflected in the prices of new luxury items.
Krispy Kreme: Donut shares are up more than 6% after a better-than-expected first quarter. Krispy Kreme reported adjusted earnings per share of 8 cents on $373 million of revenue. Analysts polled by Refinitiv had expected 7 cents a share and $368 million in revenue. The company’s operating income margin expanded year over year.
Occidental Petroleum: Shares rose more than 2% after a better-than-expected quarterly report. Occidental reported first-quarter earnings of $2.12 per share on revenue of $8.53 billion. Analysts had expected a profit of $2.03 per share on revenue of $8.08 billion, according to Refinitiv.
Perrigo: Pharmaceutical shares rose more than 6% after Perrigo’s first-quarter revenue came in higher than expected. The company also raised its full-year net sales growth guidance to 8.5%-9.5% from 3.5%-4.5%, due to an acquisition, as well as organic growth guidance from sales. However, earnings per share for the first quarter fell short of expectations.
H&R Block – The tax preparation company saw shares jump 17% after reporting better-than-expected earnings and revenue for the most recent quarter and issued positive financial guidance on upbeat results from tax season.
— CNBC’s Hannah Miao, Jesse Pound and Sarah Min contributed reporting.