Check out the companies making headlines in midday trading.
Lyft — The ridesharing stock cratered 36% after issuing disappointing guidance for its first quarter. Lyft also got hit by a slew of downgrades from analysts who said Uber may look better positioned to capitalize on the broader recovery in ridesharing. Uber shares were also down about 4%.
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Expedia — The travel company’s stock toppled nearly 8% after falling short of analysts’ revenue and earnings expectations for the recent quarter. Expedia posted adjusted earnings of $1.26 a share on revenues of $2.62 billion. Analysts called for earnings of $1.67 per share on $2.70 billion in revenue, according to Refinitiv.
Yelp — Yelp’s stock jumped 4% after fourth-quarter revenue beat analysts expectations, according to Refinitiv. The company posted earnings that were in line with estimates.
Affirm — The buy now, pay later stock shed more than 5% following a downgrade to equal weight from an overweight rating by Morgan Stanley. The Wall Street firm said that Affirm’s offerings appear too focused.
VF Corp — Shares rose 2.6% after Stifel upgraded the apparel maker to a buy from a hold. Stifel said the company, which is the parent of brands including Vans and The North Face, was at an attractive stock price following a selloff on the back of a dividend cut.
FREYR Battery — Shares of the battery manufacturer climbed 1% after Bank of America initiated coverage of the stock with a buy rating. Bank of America said the startup’s battery cell design and ability to raise capital made it a strong candidate to grow into a larger company.
Cloudflare — The cybersecurity stock added just below 1%. Late Thursday, Cloudflare posted beats on the top and bottom lines for the fourth quarter. The company earned an adjusted 6 cents per share on $275 million in revenue. Analysts surveyed by Refinitiv were expecting 5 cents per share and $274 million of revenue. Cloudflare’s full-year revenue guidance also topped estimates.
Newell Brands — Shares of the consumer goods company slipped 2%. Newell provided first-quarter and full-year EPS and revenue guidance that missed analysts’ estimates, according to StreetAccount. CEO Ravi Saligram also announced his retirement, effective May 16.
Motorola Solutions — Shares rose more than 3% after Motorola Solutions beat analysts’ expectations on both the top and bottom lines for the recent quarter, according to FactSet.
Doximity — Doximity shares shed more than 12% on lighter-than-expected guidance for the current quarter and full year. The decline in shares came despite a top-and-bottom line beat on analysts’ expectations, according to FactSet.
Topgolf Callaway Brands — The golf company’s stock fell about 4% after the company posted a per-share loss of 27 cents, excluding items. Adjusted earnings before interest, taxes, depreciation and amortization for the fourth quarter came in below analysts’ expectations, according to FactSet.
— CNBC’s Jesse Pound, Alex Harring, Michelle Fox, Sarah Min and Yun Li contributed reporting