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Check out the companies making headlines in midday trading.
Twilio — Shares jumped 19% after Twilio beat revenue expectations in its most recent quarter. The communications firm posted revenue of $1.02 billion, slightly better than the Refinitiv consensus estimate of $1 billion.
West Pharmaceutical Services — Shares spiked more than 13% after West Pharmaceutical Services topped profit and sales expectations in its fourth quarter. The drug and health care products maker posted adjusted earnings of $1.77 per share on revenue of $708.7 million. Analysts were forecasting $1.38 earnings per share on revenue of $657.2 million, according to consensus estimates from StreetAccount.
Roku — Roku shares gained more than 17% after the streaming device company reported a smaller-than-expected loss in its latest quarter, as well as greater revenue than analysts polled by Refinitiv were expecting.
Tripadvisor — Shares of the travel platform dropped 7.5%. In its earnings report earlier this week, the company beat expectations for earnings and revenue but to expect EBITDA to come in flat year over year in 2023 despite a nearly 20% increase seen in 2022. Bernstein downgraded the stock to market perform from outperform following its earnings call, noting the strategic plan unveiled was “more defensive than offensive.”
DocuSign — DocuSign added 4% after the e-signature software company said it plans to lay off 10% of its workforce.
Boston Beer Company — Shares of the brewing company plunged nearly 13% after the firm reported a surprise loss for the fourth quarter and said it expected to post another quarterly loss amid supply-chain disruptions. Boston Beer lost $11.4 million, or 93 cents per share, in the latest quarter.
Shopify — The e-commerce stock fell more than 16% after Shopify issued weaker-than-expected revenue guidance for the current quarter. Otherwise, Shopify beat expectations on the top and bottom lines.
Cisco Systems —…
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