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Lanon Wee

Largest Stock Changes at Noon: Roblox, Penn Entertainment, Upstart and Beyond

Investors tracked Roblox, Penn Entertainment, DraftKings, Upstart, Lyft, Rivian, Carvana, Twilio, Celsius Holdings, Toast, Super Micro Computer, Bumble, Akamai Technologies, Axon Enterprise, IAC, and Marqeta in midday trading. Share prices of Roblox dropped 20% after the online gaming platform's second-quarter results missed estimates. Revenue of $781 million fell short of the $785 million projection. Penn Entertainment saw shares increase 7% after the firm's 10-year deal with Disney-owned ESPN to rebrand and relaunch its sportsbook as ESPN Bet. Conversely, DraftKings saw a 9% decrease in share prices following this news. Upstart's shares plummeted 32% in response to its lower-than-anticipated guidance. Though it reported second-quarter results better than anticipated, its revenue per active user fell due to its efforts to reduce ride fares. Lyft's stock dipped 8% after its second-quarter earnings announcement failed to meet analysts' expectations. Rivian's shares declined 8%, despite reporting a smaller-than-expected loss. Carvana's stock slipped 3%, despite providing more favorable guidance for the third quarter. Twilio added 2.5% from its second-quarter report that surpassed analysts' estimates. Celsius Holdings surged 21% due to its second-quarter earnings that surpassed estimates. Toast's stock gained 15% following releasing second-quarter results which exceeded analysts' predictions. Super Micro Computer dropped 23% as their second-quarter results were not in line with expectations. Bumble saw its stock fall 7% in response to its weak predictions for adjusted EBITDA. Akamai Technologies gained 9% as their second-quarter results surpassed expectations. Axon Enterprise advanced 14% thanks to its strong quarterly results that exceeded analysts' forecasts. IAC's shares plummeted 13% in response to its larger-than-expected loss. Marqeta climbed 15% because of its agreement to extend its services to CashApp through June 2027 as well as its mixed second quarter results.

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