Coinbase, AMTD Digital, Restaurant Brands, Alibaba and more

Burger King restaurant seen in Milton, Pennsylvania.

Paul Weaver | SOPA photos | Light Rocket | Getty Images

Check out the companies making the biggest moves at midday on Thursday:


Coinbase – Shares of the cryptocurrency exchange jumped about 15% after the company announced a partnership with BlackRock, the world’s largest asset manager, that will allow its institutional clients to buy bitcoin. The COIN bar has also become one of the most mentioned names in the WallStreetBets forum on Reddit, according to Quiver Quantitative. Earlier in the day, the stock was up about 40%.

Yeti – Shares of Yeti fell nearly 17% after the vacuum insulated beverage maker reported earnings that beat expectations. Yeti said its direct-to-consumer sales were weaker than expected.

AMTD Digital – The Hong Kong-based financial technology company’s ADR Index is down 43% as the speculative frenzy led by retail investors fades. The name was caught in the trading frenzy over the past week with the index trading on social media platforms. Despite the back-to-back sell-off, the stock is still 7800% above its initial public offering price of $7.8 since mid-July.

Crocs – Crocs shares fell 13% even though the footwear company beat expectations on top and earnings. Crocs shared light revenue guidance for the third quarter. The shoe company also trimmed guidance for the full year.

Shake Shack – Shares fell nearly 8% after the restaurant chain reported quarterly results that missed revenue expectations. Shake Shack said slowing down against business plans hurt results.

Restaurant Brands International — The parent company of Burger King, Tim Hortons and Popeyes rose more than 6% Thursday after the company reported better-than-expected earnings before the bell. Global store sales grew 9%, driven by the performance of Burger King and Tim Hortons.

Alibaba — Shares of the US-listed Chinese e-commerce giant rose 2% after the company reported financial first-quarter earnings that beat expectations. However, the gains were limited as it is the first time the company has recorded consistent growth in its history. Alibaba has faced a number of headwinds, including the resurgence of Covid in China.

MercadoLibre – Shares of the Latin American e-commerce company rose more than 15% after MercadoLibre released earnings after the bell on Wednesday. Revenue was $2.60 billion, versus StreetAccount’s estimate of $2.51 billion. MercadoLibre said the growth came primarily from its advertising expansion and strength in third-party market categories.

DXC Tech – The tech services company’s stock fell nearly 20% at midday, reaching a 52-week low on Thursday. DXC Tech reported earnings that beat expectations. Earnings per share for the fourth quarter were 75 cents, compared to StreetAccount’s estimate of 81 cents.

Ceridian HCM Holding – Shares of the human capital management software company are up 9%. Seridian published quarterly results after the bell rang on Wednesday, which beat expectations. The company noted significant improvement in profitability and scope, as well as continued momentum across all segments.

DISH Network – The satellite TV company is up more than 5% daily after reporting better-than-expected results for its fourth quarter. The move also follows a report by Bloomberg on Thursday that the company’s new wireless service will begin receiving online consumer subscriptions as early as August 8.

Fortinet – Shares are down 16% after the cybersecurity firm maintained full-year revenue guidance. Free cash flow came in less than expected, as was service revenue, according to StreetAccount. Fortinet otherwise posted a profit in the second quarter.

Clorox – Shares of the consumer goods giant fell nearly 6% after it reported earnings that missed expectations. Revenue was $1.80 billion, versus StreetAccount’s estimate of $1.86 billion.

CNBC’s Yoon Lee, Tanya Machel, Fred Imbert, and Sarah Min contributed reporting.