Earnings news once again stirred trading in Friday’s midday action. Duolingo (NASDAQ:DUOL) jumped almost 40% on better-than-expected results. Meanwhile, Brilliant Earth Group (BRLT) lost more than a quarter of its value after issuing a cautious outlook with its latest results.
Duolingo (DUOL) experienced significant buying interest during midday trading, surging by 38% on earnings news. The maker of language education software reported a Q1 loss that came in significantly better than analysts had predicted.
At the same time, the firm’s revenue jumped 47% from last year. DUOL added that total bookings rose 55% to $102.1M.
Berkshire has added an additional 901K shares of OXY, valued at $52M. With the latest purchases, the firm’s stake has risen to 15.3%.
Dynavax Technologies (DVAX) advanced in intraday action as well, boosted by news that it will be added to the S&P SmallCap 600. The stock will replace Bottomline Technologies (EPAY) in the index, starting on May 17.
DVAX skyrocketed almost 27% in midday trading. Stocks often get a boost on news they will enter a major index, as fund managers tracking that index are forced to purchase shares.
A cautious outlook triggered selling in shares of Brilliant Earth Group (BRLT). Shares retreated 27% following the release of its latest quarterly update.
The jewelry company matched expectations with its Q1 profit and reported revenues that rose 41% from last year. However, BRLT warned that sales trends had “moderated” as a result of “the uncertain geopolitical and macroeconomic environment.”
To keep up with Wall Street’s best- and worst-performing stocks throughout the session, turn to Seeking Alpha’s On The Move section.