KB Home, Netflix, Block, Snap, And More Stocks Making Big Moves Midday

‍Netflix 

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According to a report from YipitData, the streaming giant's gross additions have improved in North America; the company wasn't immediately available to comment on the report, but its stock rose 8.5% following the report. The company didn't immediately reply to YipitData's questions.

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Block

Hindenburg Research, a short seller, announced its latest position in the stock, alleging that Block facilitates fraud and that its internal compliance systems are "Wild West." Block's stock plunged 14% after the announcement.

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Meta Platforms, Snap

TikTok shares climbed today, as its CEO Shou Zi Chew testified before the House Energy Commerce Committee on the company's legal status following concerns over its privacy practices. Snap's stock shot up 3.4%, while Meta's stock climbed 2.9% after Facebook parent Facebook updated its privacy policies.

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First Republic, PacWest

Investors continued to weigh the health of the banking system amid continued Fed rate hikes on Tuesday as the share values of several regional banks fell sharply, with First Republic falling more than 5% and PacWest losing over 9%.

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Regeneron Pharmaceuticals, Sanofi

It appears that the pharmaceutical giants Regeneron and Sanofi both gained about 7% of their market value after Dupixent, the asthma drug that both companies have developed in conjunction, has achieved all the targets when it comes to treating chronic obstructive pulmonary disease (COPD).

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KB Home

In response to the homebuilder's fiscal first-quarter earnings beating expectations, shares rose 8.8%. Refinitiv's estimate for earnings per share was $1.15, but KB Home posted $1.45 earnings per share, which beat Refinitiv's forecast. Revenue came in at $1.38 billion, above the $1.31 billion estimate. In addition, KB Home announced a buyback program of $500 million.

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Worthington Industries

Stock prices of the industrial manufacturer surged by 16.3% after the company reported adjusted earnings per share in its fiscal third quarter at $1.04, beating StreetAccount's estimate of 78 cents. The company also reported revenue that beat expectations and expressed optimism that the underlying demand will remain strong in the future.

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Coinbase

A trading session involving Coinbase shares on Monday followed the Securities and Exchange Commission's notification that possible violations of U.S. securities law had been identified by Coinbase. The stock has also been downgraded by Oppenheimer from outperform to perform, citing concerns about blockchain development in the United States and the SEC notice.

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Chewy

It came a little longer than expected for Chewy's shares to lose 7.4%, despite the fact that the company posted a top-and-bottom line boost for the recent quarter, which despite slightly lower active user metrics for a year-over-year comparison.

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AMC

In spite of Citi's resumption of coverage of AMC with a sell rating and a price target of just $1.6, the stock gained 3.1%, cutting March losses by 36%. This advance came even as Citi revised its rating to sell, and Citi also revised its price target to just $1.6. In a report released last week, Apple was reported to have planned to spend $1 billion annually on theatrical movie releases, which may have influenced the stock.

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HashiCorp

The shares of the software company rose 5% in after-hours trading after BTIG initiated a buy rating. Under the rating, BTIG says that it believes HCP would become the dominant player in the rapidly growing market of infrastructure as code (IaC).

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Ford

After the automaker's latest financial results, the stock traded up 1.1% in value. As a result, Ford now splits the results by business unit rather than region. In 2022, Ford’s electric vehicle business lost $2 billion, but offset that loss with a $10 billion operating profit from its fleet operations and internal combustion business.