Check out some of the companies making headlines in midday trading. Coinbase — The cryptocurrency exchange’s stock jumped 12% as it launched stock trading on its platform. The move is part of Coinbase’s strategy to become the place for investors to trade not only cryptocurrency but also stocks, exchange-traded funds and place prediction market bets. Paramount Skydance — Shares of the entertainment giant crept slightly higher after Paramount Skydance lifted its Warner Bros. Discovery takeover offer to $31 per share . That’s up from $30 a share. Warner Bros. said its board would review the proposal. Netflix , which already has an agreement in place with Warner Bros., jumped 5%. Warner Bros. slipped less than 1%. Clear Secure — The biometric identity platform soared 25% after fourth-quarter adjusted earnings per share, revenue and adjusted EBITDA, as well as first-quarter revenue guidance, all exceeded Wall Street consensus estimates, according to FactSet data. Photronics — The maker of plates used to fabricate integrated circuits and flat-panel displays surged more than 12%. Fiscal first-quarter earnings per share before one-time items and revenue exceeded the average analyst estimate, FactSet data showed. Diageo — The British spirits company fell more than 13% after earnings missed, it gave lackluster guidance and set plans to slash its dividend. Diageo blamed softer demand in North America and China, and said further weakness in the U.S. will drive organic sales to fall by 2% to 3% in 2026. The results put pressure on other alcohol stocks, with Boston Beer down 5%, Constellation Brands off 3% and Molson Coors lower by 4%. GoDaddy — Shares dropped 16% after the company forecast annual revenue below estimates, citing slow AI-related adoption. GoDaddy expects revenue of $5.195 billion to $5.275 billion this year, short of analysts’ consensus estimate of $5.28 billion, according to FactSet. Lowe’s — The home improvement retailer tumbled about 5% after issuing lower-than-expected forward guidance for the fiscal year. Lowe’s forecast earnings of $12.25 to $12.75 per share excluding one-time items for the year, below analysts’ consensus estimate of $12.90, according to FactSet. “While the housing macro remains pressured, we are focused on directing what is within our control, which includes our ongoing productivity initiatives,” Lowe’s said Wednesday in a statement. First Solar — The solar technology company slid 14% on the back of weak fourth-quarter earnings results and full-year guidance. First Solar earned $4.84 per share for the quarter, while analysts polled by LSEG expected $5.15 per share. Revenue came to $1.68 billion, beating analysts’ consensus expectation of $1.56 billion. For the full year, First Solar forecast revenue of $4.9 billion to $5.2 billion, far lower than the analysts’ consensus $6.12 billion. Cava Group — Shares of the Mediterranean restaurant chain jumped 24% after fourth-quarter results and its fiscal 2026 outlook topped estimates. Cava earned 4 cents a share on revenue of $275 million, while analysts surveyed by LSEG anticipated earnings of 3 cents per share on revenue of $268 million. The company also reported full-year revenue of more than $1 billion for the first time. Looking ahead, Cava expects sales at restaurants open at least a year will rise between 3% and 5% in 2026. Axon Enterprise — The maker of the Taser electroshock weapon surged 22%. Axon sees 2026 revenue growth ranging from 27% to 30% on a year-over-year basis, while analysts called for an increase of 26%, according to LSEG. Fourth-quarter adjusted earnings of $2.15 per share and revenue of $797 million surpassed estimates of $1.60 per share and $755 million. Oddity Tech — The Israeli online retailer of cosmetic and beauty products was almost cut in half, collapsing 46%. Oddity said it saw “a dislocation in our account with our largest advertising partner” driven by algorithm changes, leading to an expected 30% decline in year-over-year first quarter revenue. Marqeta – The credit card service company fell 7%. Marqeta’s forecast for full-year revenue growth underwhelmed Wall Street, as the company called for a 12% to 14% increase on a year over year basis. The FactSet consensus estimate anticipated growth of 17.6%. MercadoLibre — Shares of the Uruguay-based e-commerce company fell 10%. MercadoLibre’s fourth-quarter earnings were below analysts’ forecast, but net revenue of $8.76 billion exceeded the $8.47 billion estimate, according to FactSet. Par Pacific Holdings — The Houston-based energy company tumbled more than 8% after Par Pacific posted fourth-quarter earnings of $1.17 per share, on an adjusted basis. That missed the FactSet consensus estimate of $1.27 per-share earnings. On the other hand, revenue topped expectations. Everus Construction Group — The construction services provider rallied 29% after posting fourth-quarter results that blew away expectations. Everus posted earnings of $1.08 per share on revenues of $1.01 billion. That topped analysts’ expectations of 77 cents earnings per share and $879.6 million in revenue, according to FactSet. International Business Machines — Shares rose nearly 4% after UBS upgraded IBM to neutral from sell, citing the stock’s more balanced risk-reward profile in spite of disruption risks posed by artificial intelligence. “The competitive risk to IBM’s Z vertically integrated platform is largely reflected in the shares with the stock trading at a 7% FCF yield,” UBS analysts said in a note to clients. “We do not expect mainframe disintermediation over the next several years given strong customer stickiness, customer data sovereignty and complex vertically integrated stack that provides quantum-safe encryption.” Circle — Shares popped 28% after the stablecoin issuer’s fourth-quarter results beat the Street’s expectations, largely due to strong dollar-pegged token adoption. The company reported $167 million in EBITDA on revenue of $770 million for the last quarter of 2025, topping FactSet consensus estimates of $130.8 million and $747.9 million, respectively. Circle also highlighted that $75.3 billion worth of USDC tokens were in circulation by the end of last year, representing a 72% increase from the previous year. — CNBC’s Liz Napolitano, Pia Singh, Sarah Min, Yun Li, Davis Giangiulio and Scott Schnipper contributed reporting.
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Monday, March 23
