Stocks making the biggest moves midday: Norwegian Cruise Line, Unity Software, Viking Therapeutics and more
In trading news, the Norwegian Cruise Line saw an impressive 18% rise thanks to strong forward guidance. Predictions for the current quarter’s profits exceed expectations, indicating a prosperous season ahead.
Unity Software, the gaming development company, saw a decline of approximately 9% due to less than stellar EBITDA forecasts. Despite this, the company remains confident in its performance.
Viking Therapeutics, a biotech firm, showed significant growth of over 90% following the success of its Phase 2 clinical trial. This milestone has put them on the medical map, bringing in new investors.
Hess Corporation’s shares dipped by 3% due to a dispute involving Chevron, Exxon Mobil, and China’s National Offshore Oil Corp. This issue has also impacted Chevron’s shares which fell by 2%.
Stellar quarterly results led to a small dip in Workday’s shares, despite beating earnings expectations.
The digital health platform, Hims & Hers saw a significant rise of 33% after exceeding earnings estimates. The company also provided a positive financial forecast which was well received by investors.
Macy’s, the department store chain, saw an increase of 3% as a result of cost-cutting measures. The company has plans to close some stores and open new, better-performing locations.
Lowe’s shares climbed close to a 52-week high after reporting better-than-expected earnings. The home improvement retailer’s revenue also surpassed expectations.
Zoom Video stock rose nearly 5% following exceedingly impressive fourth-quarter results. The company’s earnings and revenue exceeded Wall Street’s expectations.
The restaurant chain, Cava, saw a 6% rise in shares following impressive earnings and revenue results. The company’s fourth-quarter revenue was significantly higher than the previous year and exceeded expectations.
Roku received a downgrade from Wells Fargo which led to a more than 1% dip in its shares.
Sprouts Farmers Market had a 2% increase in its shares after Bank of America Securities upgraded the supermarket chain.
Duolingo saw a 6% increase in shares following a positive review from Seaport Research Partners.
CarGurus experienced a 7% decrease in shares due to weak financial guidance for the current quarter.
AutoZone shares rose nearly 6% after exceeding Wall Street’s fiscal second-quarter expectations.
Lastly, Coinbase shares increased about 3% as a result of a surge in cryptocurrency prices. Other related stocks such as CleanSpark and MicroStrategy also saw significant increases.
