Here are some of the companies making the biggest moves in midday trading. Datadog — The cloud stock soared 28.47% after the company reported a third-quarter earnings and revenue beat before the bell. Adjusted earnings per share came in at 45 cents, versus the 34 cents expected from analysts polled by StreetAccount. Revenue was $547.5 million, topping the $524.7 million expected. Datadog’s guidance for both earnings per share and revenue for the fourth quarter and the full year also exceeded expectations. Re/Max — The brokerage firm’s stock tumbled 8.52% after being downgraded by Morgan Stanley to underweight from equal weight. On Monday, the firm warned Re/Max could be at increased risk of litigation and expensive settlements after a jury found the National Association of Realtors and some large residential brokerages liable for $1.78 billion in damages for conspiring to keep commissions high. Re/Max had settled the suit for $55 million prior to the trial. Planet Fitness — Shares rallied 13.41% after the gym chain topped expectations for both earnings and revenue for the third quarter. Planet Fitness also raised its outlook for the year, anticipating earnings per share growth of 35% year over year. Analysts polled by StreetAccount had estimated 32.4% profit growth. Vivid Seats — The online ticket marketplace popped 15.84%. Vivid Seats beat analysts’ expectations for third-quarter revenue, while also offering strong guidance on the measure for 2023 and 2024. The company also confirmed it would acquire Vegas.com in a $240 million deal. Tripadvisor — Shares of the travel website operator jumped 10.99% after the company beat third-quarter earnings and revenue expectations. Tripadvisor posted 52 cents per share in adjusted earnings on revenue of $533 million. Analysts had expected earnings of 47 cents per share on revenue of $505 million, according to LSEG, formerly known as Refinitiv. BioMarin Pharmaceutical — Shares added 12.16% after Reuters reported…
Read the full article here
Leave a Reply