Shares making the most important strikes noon: RBLX, PENN, UPST

Try the businesses making headlines in noon buying and selling.

Roblox — Shares tanked 22% after the net gaming platform fell wanting second-quarter estimates. Roblox reported a lack of 46 cents per share, versus the 45 cent loss anticipated by analysts polled by Refinitiv. Income got here in at $781 million, shy of the $785 million anticipated. The income determine is known as bookings by Roblox.

Penn Leisure, DraftKings — Shares of sports activities betting firm Penn Leisure surged 9.1% a day after the agency mentioned it’s partnering with Disney-owned ESPN to rebrand and relaunch its sportsbook as ESPN Wager in a 10-year deal. It is the primary time ESPN’s model shall be on a sports activities betting platform. Penn rival DraftKings noticed shares dropping 10.9% following the information.

Upstart — Shares plunged greater than 34% on disappointing steerage. Upstart, a client lending platform, mentioned it expects third-quarter adjusted EBITDA and income to return in round $5 million and $140 million, respectively. Analysts estimated $155 million in income and $9.6 million in adjusted EBITDA, per StreetAccount. Regardless of the inventory transfer, the corporate reported second-quarter outcomes that topped estimates, together with a shock adjusted revenue of 6 cents a share.

Lyft — The ride-sharing firm’s shares tumbled 10% following its second-quarter earnings announcement after the bell Tuesday. Lyft posted income of $1.02 billion, which got here in keeping with analysts’ estimates, in keeping with Refinitiv. The corporate’s adjusted earnings got here in at 16 cents per share, beating estimates of a lack of 1 cent per share. Nonetheless, the corporate’s income per lively person declined following the corporate’s efforts to scale back experience fares to compete with Uber.

Rivian — Shares of the electrical car maker slipped 9.9% a day after it reported a smaller-than-expected loss. Rivian posted an adjusted loss per share of $1.08 within the second quarter, whereas the Road anticipated a lack of $1.41 per share, per Refinitiv. Analysts, nevertheless, famous that headwinds stay for the corporate, which might point out a “lengthy path to profitability,” together with steeper competitors and a depletion of free money stream.

Carvana — The net automobile retailer’s inventory slipped practically 6%. Carvana shared better-than-expected steerage for the third quarter, saying it expects EBITDA above $75 million. Analysts polled by FactSet known as for EBITDA to return in just a little over $46 million.

Twilio — Twilio added 2.2% a day after topping second-quarter earnings expectations. The corporate reported earnings, excluding objects, of 54 cents a share on $1.04 billion in income. That got here in forward of the EPS of 30 cents and income of $986 million anticipated by analysts, in keeping with Refinitiv.

Celsius Holdings — Celsius Holdings soared 20.5% after the beverage firm identified for its line of power drinks beat analysts’ expectations in its second quarter. Late Tuesday, the corporate posted earnings of 52 cents per share, exceeding the 28 cents per share estimate from analysts polled by Refinitiv. Income got here in at $326 million, much better than the anticipated $276 million.

Toast — The restaurant administration software program inventory gained 14.6%. On Tuesday, Toast reported $978 million in income for the second quarter, beating analysts’ estimates of $942 million, per Refinitiv. The corporate additionally issued rosy steerage for third quarter and full yr.

Tremendous Micro Pc — The knowledge know-how firm and beneficiary of the newest synthetic intelligence craze cratered greater than 23%. On Tuesday, Tremendous Micro Pc reported adjusted earnings of $3.51 per share on income of $2.18 billion. Analysts surveyed by Refinitiv anticipated earnings of $2.96 per share on income of $2.08 billion. The corporate additionally provided steerage with a midpoint barely above expectations.

Bumble — Relationship platform Bumble slid greater than 7%. On Tuesday, the corporate provided weak expectations for adjusted EBITDA within the present quarter when put next with a consensus estimate compiled by FactSet. The corporate anticipates adjusted EBITDA of $71 million to $73 million, in contrast with estimates of $74.8 million.

Akamai Applied sciences — Shares of Akamai Applied sciences jumped 8.5%. The software program supplier posted stronger-than-expected quarterly outcomes Tuesday. The corporate reported earnings of $1.49 per share, excluding objects, on income of $935.7 million, forward of the $1.41 per share and $930.4 million anticipated by analysts, per FactSet.

Axon Enterprise — Shares of the taser maker popped 14% on sturdy quarterly outcomes that topped Wall Road’s expectations. On Tuesday, Axon Enterprise posted adjusted earnings of $1.11 per share on income totaling $374.6 million. Analysts anticipated 62 cents in earnings per share and income of $350.5 million, per FactSet. The corporate additionally boosted its full-year steerage.

IAC — Shares of the media and web firm sank greater than 16% on disappointing quarterly outcomes. On Tuesday, IAC posted a larger-than-expected lack of $1.07 per share, forward of an 82 cent loss anticipated by analysts, in keeping with Refinitiv. Income got here in at $1.11 billion, barely behind the $1.12 billion anticipated.

Marqeta — Shares of the funds platform firm surged about 12% a day after Marqeta introduced it had struck a deal to proceed servicing Block’s CashApp by June 2027. The corporate additionally reported a combined second quarter. Marqeta misplaced 11 cents per share on $231 million of income. Analysts surveyed by Refinitiv have been anticipating a lack of 9 cents per share on $219 million of income.

— CNBC’s Hakyung Kim, Pia Singh, Brian Evans, Jesse Pound, Alex Harring, Yun Li and Sarah Min contributed reporting.