Midday Stock Movers: Twitter, Shopify, eBay
2022.05.05 19:01
By Sam Boughedda
Investing.com — U.S. indices are tumbling Thursday following Wednesday’s strong close. Here are the midday movers on May 5th.
Shopify (NYSE:SHOP) stock is down more than 17% after it reported earnings before the bell that missed profit and revenue expectations. The company also provided a conservative outlook.
Twitter (NYSE:TWTR) is up over 3.5% on the back of news Elon Musk secured $7.2 billion in financing for his deal to acquire the social media company. A filing revealed Oracle (NYSE:ORCL) co-founder Larry Ellison is among those committing funds.
Booking Holdings (NASDAQ:BKNG) has gained more than 4% after beating analyst expectations when it reported earnings after the close Wednesday, benefitting from the increased travel demand.
Etsy (NASDAQ:ETSY) also beat analyst estimates, but its stock has declined over 16% after its current-quarter guidance disappointed.
eBay (NASDAQ:EBAY) is also down midday Thursday, falling over 9%. The eCommerce company beat earnings and revenue estimates but provided weaker than expected revenue guidance.
EPAM Systems (NYSE:EPAM) has jumped 10% after topping top and bottom-line estimates. The company, which specializes in service development, digital platform engineering, and digital product design, also provided positive guidance.
