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Check out the companies making the biggest moves at noon:
Roblox — Shares rose 6% after the video game company reported $774 million in bookings and sales, beating $766 million expected by analysts polled by Refinitiv. Average daily active users reached 66 million, a 22% increase year-on-year. However, Roblox reported a loss of 44 cents per share, more than the 40 cents per share loss analysts were expecting.
Icahn Enterprises – Shares in Carl Icahn’s conglomerate fell more than 15% after a regulatory filing revealed that the US Attorney’s Office for the Southern District of New York had contacted the company for information about corporate governance and others to obtain materials. A day after notable short seller Hindenburg Research went short on Icahn’s company, regulators hunted for information, claiming “inflated” asset valuations.
Rivian – Shares of the electric vehicle maker gained nearly 4% on Wednesday. On Tuesday, the company reported a smaller-than-expected quarterly loss and said it expects to continue to meet guidance targets. Revenue of $661 million beat the $652 million expected by analysts polled by Refinitiv.
Airbnb – Vacation booking inventory plunged 10% the day after the company shared a weak outlook. While Airbnb beat revenue and earnings expectations in the first quarter, the company warned of lower average daily rates in the second quarter and slower growth in room nights booked year-over-year.
Twilio – Shares fell 15%. On Tuesday, the software company announced its second-quarter revenue guidance, which came in weaker than expected. Twilio expects revenue of between $980 million and $990 million, while analysts polled by Refinitiv expected revenue of $1.05 billion.
Syneos Health — Shares rose 8.7% after announcing it will be acquired by a consortium of private equity firms including Elliott Investment Management and Veritas Capital. The group is paying $43 per share.
Dutch Bros – Shares of the drive-thru coffee chain fell 9%. According to FactSet, the company on Tuesday reported that same-store sales and earnings for the first quarter fell short of analysts’ expectations.
Celsius Holdings – shares are up 22%. On Tuesday, the energy drink company reported earnings per share of 40 cents for the first quarter, more than doubling the 19 cents a share expected by analysts polled by FactSet. Sales also exceeded analysts’ expectations. Bank of America subsequently upgraded the stock from neutral to buy.
Occidental Petroleum – The oil giant’s stock fell 3.9%. On Tuesday, Occidental reported adjusted earnings per share of $1.09 for the first quarter, down from the estimate of $1.24 by analysts polled by FactSet.
Akamai Technologies – Akamai Technologies rose 7.7% the day after the cloud service provider reported adjusted earnings of $1.40, beating analysts’ expectations of $1.32 per share, according to FactSet. The company posted revenue of $915.7 million, beating expectations of $910.5 million. dr Tom Leighton, CEO of Akamai, said the company had “a strong start to 2023” while achieving a “significant milestone in the first quarter, when for the first time in Akamai’s 25-year history, security became our largest revenue stream .” “
First Citizens BancShares — The bank’s shares rose nearly 9% after the company released first-quarter financial results that included a surge in deposits, thanks in part to the $49.26 billion it received from Silicon Valley in March bank acquired.
Topgolf Callaway Brands – Shares of the golf company fell more than 17%. On Tuesday, Topgolf lowered its earnings per share guidance for the full year, which is now below analyst estimates, according to FactSet.
ROCKWELL AUTOMATION – Shares of the industrial technology company fell 3% after the Wall Street Journal published a report that the Biden administration is investigating whether the industrial technology company disclosed U.S. military, infrastructure and government assets through any of its facilities in China . Rockwell Automation told CNBC that there has been “no report or other indication that these practices and protocols have been violated or that any of our products have been intentionally tampered with” and that no investigations into the company’s operations in China have been reported.
—CNBC’s Brian Evans, Yun Li, Alex Harring, Samantha Subin, Sarah Min and Tanaya Macheel contributed coverage.