{"id":10869,"date":"2023-08-10T18:16:00","date_gmt":"2023-08-10T18:16:00","guid":{"rendered":"https:\/\/isafespend.com\/news\/stocks-making-the-biggest-moves-midday-applovin-roblox-tapestry-alibaba-and-more\/"},"modified":"2023-08-10T18:16:01","modified_gmt":"2023-08-10T18:16:01","slug":"stocks-making-the-biggest-moves-midday-applovin-roblox-tapestry-alibaba-and-more","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=10869","title":{"rendered":"Stocks making the biggest moves midday: AppLovin, Roblox, Tapestry, Alibaba and more"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"group\">\n<p><em>Check out the companies making headlines during midday trading Thursday.<\/em><\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">Disney<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2014 Shares of the media giant jumped 4%. Late Wednesday, the company said it would raise the price on its ad-free streaming tier in October and that it would crack down on password sharing. Disney reported a 7.4% decline in subscriber count last quarter, however. It also recorded $2.65 billion in one-time charges and impairments, dragging the company to a rare quarterly net loss.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-4\">AppLovin<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2014 Shares popped more than 23%. On Wednesday, the game developer posted solid second-quarter results and shared\u00a0stronger-than-expected revenue guidance for the current period. AppLovin said it anticipates revenues to range between $780 million and $800 million, ahead of the $741 million expected by analysts, per Refinitiv. Earnings for the recent quarter came in at 22 cents, versus the 7 cents anticipated.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-5\">Alibaba<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2014  U.S.-traded shares rose 5.7% on Thursday after the Chinese company beat analysts&#8217; expectations and posted its biggest year-over-year revenue growth since 2021.\u00a0In the June quarter, the company posted revenue of 234.16 billion yuan versus 224.92 billion yuan expected, per Refinitiv.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-7\">Capri<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>, <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-8\">Tapestry<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2014 Capri soared more than 56%, while luxury company Tapestry slid 15% during midday trading. The moves come after Thursday&#8217;s announcement that Tapestry, which is behind the brands Coach and Kate Spade, is set to acquire Capri Holdings in a roughly $8.5 billion deal. Capri owns the Versace, Jimmy Choo and Michael Kors brands.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-10\">Wynn Resorts<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2014 Shares of the hotel and casino company climbed 3% after Wynn topped analysts&#8217; estimates in its second-quarter results. Late Wednesday, the company reported 91 cents in adjusted earnings per share on $1.60 billion of revenue. Analysts surveyed by Refinitiv were expecting 59 cents per share on $1.54 billion of revenue. <\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-11\">Global Payments<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2014 The financial technology stock added nearly 3% after Jefferies upgraded the company to buy from hold, citing long-term margin expansion and revenue growth as consumer spending increases. The analyst assigned a price target of $145, which implies a 16.9% gain from Wednesday&#8217;s close.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-13\">Penn Entertainment<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2014 Shares dropped about 3.5% midday Thursday. Truist downgraded shares to hold from buy in a note from Wednesday evening, citing uncertainty around the company&#8217;s partnership with Disney&#8217;s ESPN to relaunch its sports betting app.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-15\">Roblox<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2014 Shares of the gaming company added 3% in midday trading after an upgrade to outperform from Wedbush. Analyst Nick McKay remains optimistic on Roblox&#8217;s long-term trajectory, even though the company recently missed analysts&#8217; estimates on the top and bottom lines in the second quarter.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-18\">Fleetcor Technologies<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2013 Shares of the global business payments company popped 4%. Several Wall Street firms hiked their price targets on Fleetcor Wednesday in response to the company&#8217;s top and bottom-line beat for the second quarter. Earlier this week, Fleetcor posted adjusted earnings of $4.19 per share on revenue of $948.2 million. Analysts polled by FactSet called for earnings of $4.17 per share on revenue of $945 million.<\/p>\n<p><em>\u2014 CNBC&#8217;s Brian Evans, Hakyung Kim, Samantha Subin, Jesse Pound, Yun Li and Alex Harring contributed reporting.<\/em><\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/08\/10\/stocks-making-the-biggest-moves-midday-app-rblx-tpr-baba.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Check out the companies making headlines during midday trading Thursday. Disney \u2014 Shares of the media giant jumped 4%. Late Wednesday, the company said it would raise the price on its ad-free streaming tier in October and that it would crack down on password sharing. Disney reported a 7.4% decline in subscriber count last quarter,<\/p>\n","protected":false},"author":1,"featured_media":10870,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-10869","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stocks making the biggest moves midday: AppLovin, Roblox, Tapestry, Alibaba and more | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Check out the companies making headlines during midday trading Thursday.Disney \u2014 Shares of the media giant jumped 4%. 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