Check out the companies making the biggest moves at noon. Roblox — The video game stock soared 10.2% after the company posted a loss of 52 cents per share, but fell short of the 55 cents per share loss expected by analysts surveyed by LSEG. Revenue, or bookings, also exceeded expectations, bringing him $1.13 billion versus his expected $1.08 billion. New York Community Bancorp — Shares fell 6.7%. Late Tuesday, Moody’s Investors Service downgraded New York Community Bank’s credit rating to junk. The bank on Wednesday appointed Alessandro Dinero as executive chairman with immediate effect to help improve its operations. Snap — Shares fell 34.6% the next day after the company announced disappointing fourth-quarter results and a weak outlook. The company said it was facing headwinds from the Israel-Hamas war. Earlier this week, Snap announced it would lay off 10% of its global workforce. Enphase Energy — Solar power stock soared 16.9% on his. The move comes a day after CEO Badri Kosandaraman said on an earnings call that the solar power market could bottom out in the first quarter and then begin to recover. Adjusted earnings per share for the fourth quarter were 54 cents, slightly below the 55 cents expected by analysts polled by FactSet. Earnings also fell short of expectations. Alibaba — U.S.-listed shares of Chinese e-commerce giant Alibaba fell 5.9% after the company’s third-quarter sales fell short of analysts’ expectations. LSEG said sales came in at 260.35 billion Chinese yuan ($36.6 billion), compared to expectations of 262.07 billion yuan. Formerly known as Refinitiv. Alibaba also increased its share buyback program by $25 million. Yum Brands — Restaurant shares rose 1.9% on Yum Brands’ fourth-quarter adjusted earnings and sales, despite missing the mark. The parent company of KFC, Taco Bell and Pizza Hut had adjusted earnings of $1.26 per share, missing the $1.40 expected by analysts polled by LSEG. Sales came in at $2.04 billion, compared to the consensus estimate of $2.11 billion. XPO — Shares rose 18.9% after the shipping company beat expectations for the fourth quarter. Adjusted earnings per share were 77 cents, beating consensus estimates of 62 cents, according to FactSet. Sales came in at $1.94 billion, compared to expectations of $1.92 billion. Amgen — Shares fell 6.4% after Leerink Partners downgraded its market performance rating from outperform. The company said it was unclear whether Amgen’s obesity drug would be a “strong candidate” in the weight-loss field. CVS Health — Shares rose 3.1% after the drugstore chain beat expectations for fourth-quarter sales and adjusted earnings per share, according to LSEG. CVS said its medical services business is doing well, but it has revised its full-year forecast downward due to rising medical costs. NEW YORK TIMES — Media stocks fell 7.3% after reporting weak fourth-quarter earnings, according to FactSet. The company added about 300,000 net digital-only subscribers quarter over quarter, but advertising revenue fell short of the company’s plan. Chipotle Mexican Grill — Shares rose 7.2% a day earlier after the fast-casual restaurant chain reported better-than-expected adjusted earnings and sales. Chipotle also said restaurant traffic has increased by more than 7%. VF Inc. — The footwear and apparel company’s stock fell 9.7% after its third-quarter results missed Wall Street expectations on both sales and bottom line. VF reported adjusted earnings of 57 cents a share and revenue of $2.96 billion, compared to analysts’ estimates compiled by Street Account for earnings of 77 cents a share and revenue of $3.24 billion. Sonos — The audio equipment maker soared 17.1% on Wednesday, a day after beating revenue expectations and reaffirming guidance. In the fiscal first quarter, Sonos earned 64 cents per share on a GAAP basis on revenue of $612.9 million, beating the 42 cents per share and $589.1 million expected by analysts surveyed by FactSet. I did. Warner Bros. Discovery, Fox and Walt Disney — three stocks fell. On Tuesday, Walt Disney Co.’s ESPN, Fox and Warner Bros. Discovery announced the launch of a sports streaming platform owned by a new company in which the three entertainment giants each hold a one-third stake. Warner Bros. Discovery stock fell 3.2%. Walt Disney stock fell just 0.2%, and Fox fell 6.8%. FuboTV — Shares of the sports streaming service plunged 22.7% the next day after announcing partnerships with Warner Bros. Discovery, Fox and Disney. Paramount Global — Shares fell 8.2% the day after a sports streaming deal between Warner Bros. Discovery, Fox and Disney was announced. Media companies, including streaming service Paramount+, were not approached about joining the venture, people familiar with the matter told CNBC. Paramount is looking for a buyer, and at one point Warner Bros. was in early merger talks, CNBC reported in December. Reuters reported last week that media entrepreneur Byron Allen had submitted a proposal to buy Paramount. Cirrus Logic — Shares rose 14.6% after Cirrus Logic’s latest quarterly results beat analysts’ expectations. The company reported adjusted earnings of $2.89 per share in its fiscal third quarter, which beat the $2.01 per share expected by analysts surveyed by FactSet. Revenue was $619 million, beating consensus estimates of $540.1 million. —CNBC’s Alex Harring, Brian Evans, Sarah Min and Hakyung Kim contributed reporting.
Stocks with the biggest moves at midday: RBLX, ENPH, SNAP, BABA
