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Stocks making the biggest moves midday: Roblox, Airbnb, Barclays, Silvergate Capital & more

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Rafael Henrique | SOPA Images | LightRocket | Getty Images

Check out the companies making the biggest moves midday Wednesday:

Roblox — Shares of the video game company skyrocketed more than 24% after the company reported $899.4 million in fourth-quarter bookings, surpassing the $875.3 million bookings expected by analysts, according to StreetAccount. CEO David Baszucki also said, “With 65 million daily active users in January, we are driving towards our vision to reimagine the way people come together by enabling deeper forms of expression, communication and immersion.”

Airbnb — Shares of the vacation rental company popped 12% after a stronger-than-expected fourth quarter. Airbnb reported 48 cents in earnings per share on $1.90 billion of revenue. Analysts surveyed by Refinitiv had projected 25 cents per share and $1.86 billion of revenue. The company also said it was seeing “continued strong demand” in the first quarter.

Silvergate Capital — The crypto bank surged more than 19% after Ken Griffin’s Citadel Securities revealed a 5.5% stake in the company worth about $25 million.

Devon Energy — Shares tumbled 12.3% after the energy company reported fourth-quarter earnings and revenue that came in below expectations. Devon earned $1.66 per share on revenue of $4.3 billion. Analysts expected a profit of $1.75 per share on revenue of $4.39 billion.

Akamai Technologies — The cloud stock dropped more than 10% after Akamai issued first-quarter revenue and earnings guidance that was below expectations. RBC Capital Markets also downgraded shares to sector perform from outperform and slashed its price target to $85 from $100 per share.

Generac Holdings — Shares rallied 8% after the power-generator maker reported fourth-quarter earnings of $1.78 per share, topping StreetAccount’s estimate of $1.75 per share. Generac’s revenues of $1.05 billion came in just below a consensus forecast of $1.07 billion.

Barclays — The U.K. bank’s U.S.-listed stock tumbled more 9.3% after Barclays reported an annual net profit slide of 19%, thanks in part to a trading blunder in the U.S. that resulted in litigation and conduct charges.

Analog Devices — The chipmaker gained 6.2% after reporting adjusted earnings for the fiscal first quarter of $2.75, higher than the $2.61 expected from analysts, per StreetAccount. Revenue came in at $3.25 billion, topping expectations of $3.15 billion.

Bath & Body Works — Shares of the retailer shed 3% after being downgraded to neutral from buy by Citi. The Wall Street firm said it sees significant margin headwinds continuing into 2023 and beyond.

Paramount Global — Shares gained 6.5% after Berkshire Hathaway revealed it increased its stake in the entertainment company. Warren Buffet’s firm now owns more than 93 million shares of Paramount.

Martin Marietta Materials — Shares gained 7% after the company reported fourth-quarter net income of $183.6 million, up from $156.8 million a year ago. However, it missed Wall Street’s expectations, with adjusted earnings per share coming in at $3.04, versus Street Account’s estimate of $3.08. Products and services revenue also missed expectations.

American Eagle Outfitters — The apparel company’s stock dipped more than 2% after Jeffries downgraded it to hold from buy. The Wall Street firm cited the historically low performance of the clothing and footwear category over the past 8 recessions.

Taiwan Semiconductor — The Taiwanese semiconductor maker’s stock declined 6% after Berkshire Hathaway revealed it reduced its stake in the company by 86% from the previous quarter to $168 million.

— CNBC’s Michael Bloom, Alex Harring, Jesse Pound, Hakyung Kim and Pia Singh contributed reporting.

Source: CNBC