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Coinbase, AMTD Digital, Restaurant Brands, Alibaba and more


A Burger King restaurant in Milton, Pennsylvania.

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Check out the companies making the biggest moves in midday trading on Thursday:

Coinbase – The stock of the cryptocurrency exchange rose about 15% after the company announced it in partnership with BlackRock, the world’s largest asset manager, will allow its institutional clients to buy bitcoin. The COIN also became one of the most talked about names on Reddit’s WallStreetBets forum, according to Quiver Quantitative. Earlier in the day, the stock jumped about 40%.

Yeti Yeti shares fell about 17% after the vacuum-insulated beverage maker reported earnings that fell short of expectations. Yeti said its direct-to-consumer sales were softer than expected.

AMTD Digital Hong Kong-based fintech firm ADRs drop 43% as speculative rally fueled by retail investors. Name was caught in a Manic trading in the past week with trending codes on social media platforms. Despite the consecutive sell-off, the stock is still up 7,800% from its $7.8 IPO price in mid-July.

Crocs – Shares of Crocs fell 13% even though the shoe company beat expectations on earnings above and below. Crocs shared light revenue guidance for the third quarter. The shoe company also cut its guidance for the full year.

Shack Shack – Shares fell nearly 8% after the restaurant chain reported quarterly results that fell short of revenue expectations. Shake Shack said a delay in the work schedule will affect the results.

International restaurant brand – Burger King’s parent company, Tim Hortons and Popeyes jumped more than 6% on Thursday after the company reported Better than expected earnings before the bell. Global same-store sales increased 9%, boosted by the performance of Burger King and Tim Hortons.

Alibaba – US-listed shares of Chinese e-commerce giant rise 2% after company reports first quarter financial earnings beat expectations. However, the increase is limited as this is the first time the company has achieved constant growth in its history. Alibaba has faced a number of difficulties including a resurgence of Covid in China.

MercadoLibre – Shares of the Latin American e-commerce company jumped more than 15% after MercadoLibre posted earnings after the bell on Wednesday. Revenue was $2.60 billion, compared with a StreetAccount estimate of $2.51 billion. MercadoLibre says the growth has mainly come from the expansion of its advertising business and its strength in third-party market categories.

DXC Tech – Shares of the technology services company, down about 20% in midday trading, hit a 52-week low on Thursday. DXC Tech reported earnings that fell short of expectations. Earnings per share for the most recent quarter were 75 cents, compared with a StreetAccount estimate of 81 cents.

Ceridian HCM Holding – Shares of human capital management software company rose 9%. Ceridian released quarterly results after the bell on Wednesday, beating expectations. The company showed significant improvements in profitability and size, as well as continued momentum across all segments.

DISH . Network – The satellite TV company rose more than 5% a day after reporting better-than-expected results for the latest quarter. The move also followed a report by Bloomberg on Thursday that the company’s new wireless service will begin accepting consumer online subscriptions as early as August 8.

Fortinet – Shares drop 16% after cybersecurity firm sustains full year revenue guide. According to StreetAccount, free cash flow was also less than expected, as was service revenue. Fortinet, on the other hand, beat profits in the second quarter.

Clorox —Shares of the consumer goods giant fell nearly 6% after it reported disappointing earnings. Revenue came in at $1.80 billion, compared with a StreetAccount estimate of $1.86 billion.

— Yun Li, Tanaya Macheel, Fred Imbert and Sarah Min of CNBC contributed reporting.



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