Coinbase shares are down more than 83% this year
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Check out the companies making headlines in midday trading.
Coinbase — Shares of the cryptocurrency exchange fell 5% even after Coinbase reported a smaller-than-expected loss for the fourth quarter. Coinbase lost $2.46 per share on $629 million of revenue. Analysts surveyed by Refinitiv were expecting a loss of $2.55 per share on $590 million of revenue. Subscription and services revenue rose 34% quarter over quarter but trading volumes declined.
Palo Alto Networks — The software company’s stock gained more than 11% after its fiscal second-quarter earnings and revenue beat analysts’ estimates. Adjusted earnings per share came in at $1.05, versus the 78 cents expected by analysts polled by Refinitiv.
Dick’s Sporting Goods — The sports retailer’s stock gained more than 1% on news that it’s buying e-commerce outdoor retailer Moosejaw from Walmart. Shares of Walmart were last down about 2%.
CoStar Group — The commercial real estate stock fell more than 3% after the company issued guidance for the current quarter that fell short of analysts’ estimates, according to StreetAccount.
Amazon — Shares of the e-commerce giant rose 1.7% after the company closed a deal to buy primary care provider One Medical. Amazon agreed to acquire One Medical in July as part of its efforts to deepen its presence in health care.
La-Z-Boy — Shares gained 18% after its adjusted earnings per share for the fiscal third quarter came in at 91 cents, topping analysts’ estimates of 66 cents, according to FactSet. The furniture maker’s revenue came out to $572.7 million, higher than the expected $529.6 million.
Toll Brothers — Shares of the homebuilding company added more than 3% after it beat Wall Street’s revenue and earnings expectations for the recent quarter, according to Refinitiv. Toll Brothers also said that it has seen a rise in demand since the start of 2023.
Charles River Laboratories International — Shares…
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