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Shares making the biggest moves noon: Virgin Galactic, Robinhood, Command, Novavax & more

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Shares making the biggest moves noon: Virgin Galactic, Robinhood, Command, Novavax & more

Billionaire entrepreneur Richard Branson prepares to spray champagne after flying with a crew in Virgin Galactic’s passenger rocket airplane VSS Solidarity to the edge of dwelling at Spaceport The USA cease to Truth or Consequences, New Mexico, U.S., July 11, 2021.

Joe Skipper | Reuters

Early Newspaper

Examine out the companies making headlines in noon shopping and selling. 

Robinhood — Shares of Robinhood popped more than 9% after the company reiterated that it’s now not selling any extra stock. On Thursday, the company disclosed that current shareholders will promote up to 97.9 million shares over time. The shopping and selling app moreover clarified Friday morning that these gross sales would now not open up straight, easing concerns about a straight bounce in stock supply that might maybe weigh down the shares.

Command — The on-line review keep of living operator’s stock jumped over 7% after it reported quarterly earnings unhurried Thursday of 5 cents per portion, beating forecasts of a 9-cent per portion loss. The company moreover beat estimates on revenue and raised its fat-one year forecast, citing persevered strength in ad revenue.

Virgin Galactic — Shares of Virgin Galactic jumped more than 7% following the dwelling tourism company’s 2d-quarter outcomes. Virgin Galactic introduced it would reopen price gross sales with seats starting at $450,000, while further delaying the starting of industrial service. Wall Avenue had mixed views on the news.

Dropbox – Shares of the cloud storage company stepped forward more than 3% following earnings. Dropbox beat high- and bottom-line estimates for the duration of the 2d quarter, earning 40 cents per portion excluding objects on $531 million in revenue. Analysts surveyed by Refinitiv had been looking ahead to the company to scheme 33 cents per portion on $524 million in revenue.

DraftKings – The sports betting company noticed its shares upward push 1.9% following a stronger-than-anticipated quarterly remark. DraftKings reported quarterly profit and revenue that beat analysts’ estimates and raised its revenue forecast for the fat one year 2021.

Novavax – Shares of the drug maker plunged more than 19% after the company acknowledged it would extend searching for emergency state authorization for its Covid-19 vaccine till the fourth quarter. Novavax moreover posted a valuable wider-than-anticipated loss and revenue that fell in need of Wall Avenue’s expectations.

Didi World – The Chinese language trail-hailing company rose about 0.5% after Bloomberg News reported the firm is weighing giving up preserve watch over of its most handy info to aid resolve a regulatory probe by the Chinese language govt. Chinese language regulators started a cybersecurity review and compelled Didi to pause signing up unusual customers for the duration of the assignment.

Carvana – Carvana shares edged up over 1% after the on-line outdated-automobile retailer posted an surprising profit for its most up-to-date quarter. It marked the company’s first worthwhile quarter. Carvana moreover posted better-than-anticipated revenue as auto gross sales enjoyed a improve in seek info from since the pandemic started last one year.

– CNBC’s Maggie Fitzgerald, Hannah Miao, Pippa Stevens and Tanaya Macheel contributed reporting.

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Shares making the biggest moves noon: Virgin Galactic, Robinhood, Command, Novavax & more