Stocks move at noon: LYFT, SPOT, EXPE, YELP

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Check out the companies that make headlines in the afternoon trade.

backlash — Shares of ridesharing fell 36.4% after the release of disappointing first-quarter guidance. Lyft has also been hit by a string of downgrades from analysts who said Uber could look better to capitalize on a broader recovery in sharing. Uber shares also fell 4.4%.

Spotify The music streamer’s shares jumped 3.6% after news that ValueAct has acquired a stake in the company. Spotify recently reported its fourth quarter results, which showed significant user growth.

expedition — Shares of the travel company fell 8.6% after analysts fell short of earnings and profit expectations for the latest quarter. Expedia posted adjusted earnings of $1.26 per share on revenue of $2.62 billion. Analysts had forecast earnings of $1.67 per share on revenue of $2.70 billion, according to Refinitiv.

Squeal Shares of Yelp jumped 3.2% after fourth-quarter revenue beat analysts’ expectations, according to Refinitiv data. The company reported earnings that were in line with estimates.

Confirm — Buy ​​now, pay later shares shed 5.8% after Morgan Stanley downgraded to equal weight. The Wall Street firm said Affirm’s offerings seemed too focused.

PayPal PayPal shares rose 3% after CEO Dan Schulman announced plans to leave the online payments company by the end of the year.

VF Corporation — Shares rose 0.9% after Stifel upgraded the apparel maker to buy with hold. Stifel said the company, which is the parent company of brands such as Vans and The North Face, has an attractive share price after the sell-off amid a dividend cut.

FREYR Accumulator — Shares of the battery maker rose 1.5% after Bank of America initiated buy coverage on the stock. Bank of America said the battery design and ability to raise capital make the startup a strong candidate to grow into a larger company.

cloud flash — Cybersecurity stocks added just under 3.3%. Late Thursday, Cloudflare released its fourth-quarter tops and bottoms data. The company earned an adjusted 6 cents per share on $275 million in revenue. Analysts polled by Refinitiv had expected 5 cents per share and $274 million in revenue. Cloudflare’s annual revenue forecast also topped estimates.

Deutsche Bank — Shares fell 3% after Bank of America downgraded Deutsche Bank from neutral to worse, saying the European bank is “struggling to improve profitability.”

Newell Brands — Consumer goods stocks were up 1.2% last time. Newell provided in the first quarter and full-year earnings-per-share and revenue projections that fall short of analyst estimates, according to StreetAccount. CEO Ravi Saligram also announced his resignation effective May 16.

Motorola Solutions — Shares rose 5.6% after Motorola Solutions beat analysts’ expectations in both revenue and net income for the latest quarter, according to FactSet.

Proximity Doximity shares shed nearly 13% on lower-than-expected guidance for the current quarter and full year. According to FactSet, the fall in stocks came despite the fact that the upper and lower boundaries exceeded analysts’ expectations.

Brands Topgolf Callaway Shares of the golf company fell 2.6% after the company reported a loss of 27 cents per share before items. Adjusted earnings before interest, taxes, depreciation and amortization for the fourth quarter came in below analysts’ expectations, according to FactSet.

– CNBC’s Jesse Pound, Alex Harring, Michelle Fox, Sara Min and Yun Lee contributed reporting.

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