Movers: Callaway Golf, Coinbase Global, Electronic Arts, Philip Morris Int, Roblox, Unity Software

Barry Adams
11 May, 2022
New York City

Callaway Golf Company increased 14.5% to $20.53 after the company reported first quarter revenues increased 59% to $1.04 billion and net income declined 71% to $88 million. 

The company lifted annual revenue outlook to between $3.935 billion and $3.970 billion and adjusted operating earnings between $535 million and $555 million. 

Coinbase Global, Inc declined 22% to $56.83 after the company reported revenues declined 27% to $1.2 billion and net loss of $430 million compared to income of $771 million. 

Crypto currency trading volume on the platform declined 11% to $309 billion. 

MicroStrategy Inc dropped 12% to $198.20 following the weakness in Coinbase.  

Cvent Holding Corp jumped 11% to $4.98 after the company reported sales ahead of its guidance and revised annual sales guidance marginally. 

Electronic Arts, Inc jumped 12.3% to $125.38 after the game publisher reported March quarter sales increased 38% to $1.8 billion and net income soared three-fold to $225 million. 

Diluted earnings per share increased to 80 cents from 26 cents a year ago. 

The company also guided fiscal year 2023 between $7.6 billion and $7.8 billion and earnings per share between $2.79 and $2.87. 

Philip Morris Inc increased 3.9% to $102.78 after the company agreed to acquire Swedish Match AB for $16 billion. 

Swedish Match AB also jumped 10% in New York and in Stockholm trading. 

Sweetgreen Inc declined 10.5% to $18.34 after a day ago the company reported a wider loss and reaffirmed its annual sales outlook. 

The stock extended 2-day losses to 20%. 

Switch Inc increased 9.7% to $33.73 after the network infrastructure company reported fourth quarter revenues increased 26% to $161.4 million and swung to a net loss of $18.5 million from $15.3 million profit. 

The company also said full-year 2022 revenues are expected to increase 13% at mid-point for the range between $660 million and $674 million. 

Roblox Corp gained 5.4% to $24.45 after the online gaming platform reported first quarter revenues increased 39% to $537 million and average daily users increased 28% to 54.1 million. 

Quarterly net loss declined to 27 cents compared to 46 cents a year ago. 

Upstart Holdings, Inc declined 13.3% to $29.15 after the platform based lender reported a day ago weak outlook for the year. The stock fell for the second day and extended 5-day losses to 68%. 

Unity Software Inc plunged 37.3% to $30.19 after the video game software developer reported first quarter revenues increased 36% to $320 million but net loss jumped 80% to $180 million. 

The software developer also guided lower-than-expected second quarter revenues between $290 million and $295 million, an increase between 6% and 8% from a year ago.