These are the stocks posting the largest moves midday.
— The stock added 4% after the brokerage reported better-than-expected revenue for the first quarter. Its first-quarter revenue came in at $441 million, versus analyst estimates of $425 million, according to Refinitiv. Robinhood also showed growth of monthly users, which hit 11.8 million.— Shares plunged 23.
8% on the back of disappointing quarterly results. The company reported an adjusted loss of 24 cents per share, while analysts polled by Refinitiv expected a loss of 18 cents per share. The home sound systems manufacturer also reduced its guidance for the second half of the 2023 fiscal year amid weakening consumer demand and channel partner inventory tightening.
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Stocks making the biggest moves after hours: Disney, Beyond Meat, Sonos, Robinhood and moreThese are the stocks posting the largest moves in extended trading.
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Beyond Meat expects sharper growth in second half, posts smaller lossBeyond Meat said on Wednesday it expects sharper revenue growth in the second half of 2023 after reporting a smaller-than-expected quarterly loss on easing supply chain pressures and cost controls.
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Peloton is recalling more than 2 million exercise bikes. Here's whyPeloton is recalling more than 2 million of its exercise bikes because the bike’s seat post assembly can break during use, posing fall and injury hazards. The recall includes approximately 2.2 million of the Peloton Bikes Model PL01. The bikes were sold from January 2018 through May 2023 for about $1,400. They were sold at Peloton and Dick’s Sporting Goods stores nationwide and online at Amazon, Peloton and Dick’s websites.
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Peloton recalls 2.2 million exercise bikes due to safety hazardPeloton is recalling 2 million exercise bicycles over safety concerns, the second major recall the fitness company has faced.
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