Stock Groups

Rivian, Bumble, Disney, Alibaba and more

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The New York Stock Exchange is pleased to welcome The Walt Disney Company (NYSE DIS) today, Tuesday May 4, 2021 in celebration of Star Wars Day.

Source: NYSE

These are the headline-grabbing companies in midday trading.

Rivian Automotive — Shares of the newly public electric vehicle start-up soared 22% in its second day of tradingThis is a. The company gained 29% in its market debut. It already holds a larger market valuation than Ford and General Motors.

Disney — Disney shares fell more than 6% after the media giant missed on the top and bottom lines of its quarterly resultsThis is a. Disney+ subscribers came up short on estimates, too.

Beyond Meat — The alternative meat company whiffed on estimates for the third quarterIts stock fell 13%. Investment firm Bernstein downgraded Beyond Meat to market performAfter the quarter-end report, it was stated that there was insufficient demand to allow investors to purchase the dip.

The Honest Company — The consumer goods stock rose 12% after The Honest Company’s third-quarter sales came in at $82.7 million, topping estimates of $80.8 million, according to Refinitiv. The revenue beat was driven by diapers and wipes growth.

Bumble — The dating app stock tumbled 20% after Bumble reported a net loss of $10.7 millionfor the third quarter. Refinitiv surveyed analysts and predicted that the company would break even. StreetAccount reported that Paid Users also performed lower than expected.

AppLovin — The software stock jumped 18% after AppLovin reported third-quarter revenue of $727 million, beating estimates, according to FactSet. The growth of its software business platform drove a 90% increase in revenue.

Affirm – “Buy now, pay later” darling Affirm’s shares rallied almost 12% after the company announced an expansion of its partnership with Amazon and reported a quarterly revenue beat, recording $269.4 million versus estimates of $248.2 million. According to Refinitiv, Affirm reported quarterly earnings per share losses.

SoFi – The fintech stock popped more than 18% as investors cheered a stronger-than-expected quarterly report. SoFi recorded a 3Q loss of 5c per share, exceeding the Refinitiv prediction of a loss in excess of 14c per share. More than 90% of the stock has risen since its IPO.

Marqeta – Shares of Marqeta, the card-issuing platform behind “buy now, pay later” brands like Affirm and Klarna, rose 0.5% after reporting stronger-than-expected quarterly results and a 60% increase in processing volume from the previous year.

Tapestry — The apparel stock rose 8.4% after a stronger-than-expected report for the company’s fiscal first quarter. Tapestry reported adjusted earnings at 82 cents per share and $1.48 million in revenue. StreetAccount reports that analysts were anticipating 70 cents per share in earnings on revenue of $1.43 billion. StreetAccount also reported that the company raised its earnings guidance and revenue projections for full year.

Silvergate Capital — Shares of the crypto bank rose about 11% after JPMorgan initiated coverage of Silvergate with an overweight ratingThis is a. Silvergate’s potential growth and strength of its balance sheet were praised by this investment firm.

Nio — Shares of the Chinese electric vehicle company rose 5This is the.8% after Citi raised its price target on the stock to a Street high. Citi suggested that Nio must maintain its position as the dominant Chinese company despite increasing competition.

Alibaba JD.com — Chinese e-commerce stocks as investors monitored developments on Singles DayThe largest online shopping event of the year was. Alibaba’s shares rose over 3% while JD.com saw a more than 10% increase in stock. JD.com recorded record singles day sales.

Organon & Co. — The pharmaceutical stock was one of the worst performers in the S&P 500 on Thursday, falling 6.4%. While the company beat projections on its top and bottom line for its third quarter, they did not announce any forward guidance. They also announced the acquisition of Forendo drug developer for an estimated $945 million.

CNBC’s Yun Li and Hannah Miao contributed to this report.

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