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Check out the companies making the biggest moves at midday.
Affirm — Shares of the payments company rose 6% after Affirm and Amazon announced a new compatibility feature. Affirm’s Adaptive Checkout, which offers customers payment plans with time-limited payments, will now be a payment option for merchants that offer Amazon Pay.
Stitch Fix — Stock soared about 32% after the online personalized styling services company reported a smaller-than-expected loss for the fiscal third quarter. According to Refinitiv, Stitch Fix posted a loss of 19 cents per share, compared to the 30 cents per share loss analysts were expecting. Sales also exceeded expectations.
Warner Bros. Discovery — Shares rose 5% after announcing that CNN CEO Chris Licht is leaving the company after a tumultuous reign of just over a year.
Dave & Buster’s — Shares of the entertainment giant rose 18% a day after Dave & Buster’s posted an increase in earnings. The company reported earnings of $1.45 per share for the first quarter, while analysts polled by Refinitiv called for $1.24 per share. Revenue, however, fell short of expectations, totaling $597 million versus Wall Street’s estimate of $602 million.
GAMESTOP – Meme stock gained 3.6% ahead of its quarterly results after the close on Wednesday. Analysts polled by FactSet are forecasting a quarterly loss of 15 cents per share.
Petrobras – Shares rose 2% after Morgan Stanley upgraded the Brazilian oil giant from “equal weight” to “overweight”. The Wall Street company said Petrobras could pay investors a higher dividend this year than it has in the past.
Tesla — Shares rose 1.5% after the electric-vehicle maker posted an update on its website showing that new Model 3 and Model Y cars are eligible for a $7,500 tax credit of the Inflation Reduction Act.
Yext – Shares of the online marketing company soared more than 38% in midday trade on a drop in earnings. On Tuesday, the company reported an adjusted 8 cents a share on revenue of $99.5 million, while analysts had forecast 5 cents and $98.5 million, according to FactSet.
Super Micro Computer – Chip stock rose 2% after Rosenblatt began reporting with a buy rating and a price target of $300, up nearly 29% from Tuesday’s close. The Wall Street company named Super Micro Computer as one of the biggest beneficiaries of artificial intelligence.
Campbell Soup — Shares fell more than 7% after the company confirmed its full-year guidance of $2.95 to $3.00 for adjusted earnings per share, down from the $3.01 forecast by expected by analysts polled by StreetAccount. However, third-quarter profits beat estimates while sales were soft.
Mobileye Global — Autonomous vehicle technology stock rose about 4% after Canaccord Genuity began reporting with a buy rating. The Wall Street company called Mobileye a sustainable game that will also improve supply chains.
Coinbase – The crypto exchange is up 2.7% after losing 12% in the previous session. The U.S. Securities and Exchange Commission sued Coinbase on Tuesday, alleging that the company operates as an unregistered exchange and broker. Ark Invest’s Cathie Wood bought shares following Tuesday’s news.
— CNBC’s Jesse Pound, Brian Evans and Darla Mercado contributed coverage.