Stocks with Big Moves at Midday

In midday trading on August 9, 2024, several companies made headlines with significant stock movements. Sweetgreen's shares surged over 33% following the announcement of second-quarter revenue of $184.6 million, exceeding the consensus estimate of $181 million. Similarly, Doximity experienced a remarkable 38% increase in its stock price after reporting first-quarter earnings that surpassed expectations, outperforming the anticipated 22 cents per share. Conversely, shares of a beauty company fell more than 14% after it issued new guidance indicating a slowdown in growth. Unity Technologies reported a loss of 32 cents per share on revenue of $449 million, which was an improvement over the expected loss of 42 cents per share on $440 million in revenue. The Trade Desk also provided a positive outlook, projecting revenue of at least $618 million, significantly higher than the LSEG estimate of around $604 million. Akamai Technologies saw its stock rise nearly 11% after reporting better-than-expected second-quarter results, with adjusted earnings of $1.58 per share on revenue of $980 million, surpassing analyst expectations. The company also raised its full-year earnings outlook, anticipating earnings between $6.34 and $6.47 per share, excluding items. Meanwhile, Paramount's quarterly earnings exceeded analysts' expectations, although it fell short on revenue, highlighting mixed results in the media sector.