Stocks making the biggest moves midday: Affirm, Disney, Krispy Kreme, TransDigm and more

by | Nov 9, 2023 | Financial

Check out the companies making headlines in midday trading. Affirm — Affirm shares jumped 17% a day after the fintech company reported fiscal first-quarter revenue that topped expectations. Affirm posted $496.5 million in revenue, more than the $444.5 million consensus estimate, according to FactSet. Virgin Galactic Holdings — Shares rallied more than 20% a day after the company announced its cost-savings initiative , which includes pausing spaceflight operations next year. The company also laid off about 18% of its workforce. Shares are down nearly 42% year to date. Duolingo — Duolingo shares surged 17% a day after the education technology company hiked its forecast for the full year. Duolingo estimates revenue will come in at $525 million to $528 million in 2023, compared with earlier guidance of $510 million to $516 million. The company also raised its outlook for bookings for the year. TransDigm Group — Aerospace and defense company TransDigm Group jumped about 9% on Thursday. The company posted fiscal fourth-quarter earnings and revenue that topped estimates. It posted adjusted per-share earnings of $8.03, greater than the consensus estimate of $7.55, according to FactSet. It issued revenue of $1.85 billion, slightly higher than the forecast $1.84 billion. Disney — Shares of Disney advanced 7% in midday trading. The media conglomerate expanded its cost-cutting measures by $2 billion, and …

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