Stocks Making the Biggest Midday Moves: Uber, Airbnb, Mgm Resorts, Robinhood and More

In the realm of midday trading, several companies captured attention with noteworthy developments:

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Uber experienced a remarkable 11% surge in its shares, reaching a new 52-week high. This upswing followed the ride-hailing giant's announcement of a groundbreaking $7 billion share repurchase authorization program. Uber also expressed optimism, projecting mid to high-teens growth in gross bookings over the next three years.

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Meanwhile, Lyft witnessed a substantial 31% surge in its shares following the revelation of fourth-quarter adjusted earnings of 18 cents per share. This figure surpassed the LSEG consensus estimate of 8 cents per share, accompanied by revenue reaching $1.22 billion, in line with analysts' expectations.

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IQVIA Holdings, a prominent health tech company, saw a 10% increase in its shares after posting fourth-quarter earnings of $2.84 per share, excluding items. This outperformed the $2.82 per share anticipated by analysts. The company's quarterly revenue of $3.87 billion also slightly exceeded estimates of $3.8 billion.

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Similarly, Charles River Laboratories observed a 9% rise in its shares as it reported fourth-quarter adjusted earnings of $2.46 per share, surpassing analysts' estimates of $2.40 per share. The company's revenue reached $1.01 billion, exceeding the anticipated $991.3 million. Furthermore, the higher end of the full-year earnings per share guidance, $11.40, surpassed estimates of $10.83 per share.

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DaVita, a health-care company, celebrated a 7% increase after surpassing expectations on both top and bottom lines. The company reported earnings of $1.87 per share, excluding items, on $3.15 billion in revenue, outperforming FactSet's estimated earnings of $1.63 per share on $3.01 billion in revenue.

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Robinhood Markets saw a 9% surge in its shares following an unexpected earnings and revenue beat. Robinhood reported earnings of 3 cents per share, while analysts had expected a 1 cent per share loss. Revenue also exceeded expectations, reaching $471 million against the anticipated $457 million.

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In the real-estate sector, Zillow experienced a more than 6% rise in its shares after posting adjusted earnings of 20 cents per share on revenues of $474 million. This performance outshone analysts' estimates of 12 cents per share on revenues of $452 million.

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The surge in Crypto stocks was notable, correlating with Bitcoin's rise to a more than two-year high and the restoration of its $1 trillion market cap. Platforms like Coinbase gained about 13%, while Bitcoin proxy Microstrategy added 10%. Miners such as Iris Energy and CleanSpark surged nearly 15% and 9%, respectively. Marathon Digital and Riot Platforms also saw increases of more than 10% each.

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Topgolf Callaway experienced a 6% rise in shares after the sports equipment company reported a narrower-than-expected adjusted loss for the fourth quarter, at 30 cents per share, compared to the anticipated 33 cents per share.

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On the flip side, Akamai Technologies witnessed an 8% decline in shares after falling short of analyst expectations for fourth-quarter revenue. Although the company earned $1.69 per share, excluding items, exceeding the anticipated $1.60 per share, the revenue of $995 million was below the forecast of $998 million.

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Despite MGM Resorts International reporting better-than-expected fourth-quarter results, its shares dropped by 8%. The U.S. regional casino segment faced challenges from a strike in Detroit and increased labor costs, offsetting positive performances in the China and Macau segments.

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Kraft Heinz saw a decline of more than 6% as its fourth-quarter revenue missed expectations. The reported $6.86 billion fell short of the projected $6.99 billion, and the company's adjusted earnings per share of 78 cents were one cent above analyst estimates.

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For Airbnb, despite posting a fourth-quarter revenue beat, shares dipped around 3%. The platform reported a loss of 55 cents per share, and it remained unclear how this compared to analysts' estimates of a 62-cent per share profit.

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Closing the list, Hasbro rebounded with nearly a 3% rise following a decline in the previous trading session. The toymaker's fourth-quarter earnings and revenue had fallen short of analysts' estimates, coupled with weaker-than-expected guidance for full-year revenue.

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