Stocks making the biggest moves midday: Roblox, Penn Entertainment, Upstart and more

Check retired the companies making headlines successful midday trading.

Roblox — Shares tanked 20% aft the online gaming level fell abbreviated of second-quarter estimates. Roblox reported a nonaccomplishment of 46 cents per share, versus the 45-cent nonaccomplishment expected by analysts polled by Refinitiv. Revenue came successful astatine $781 million, shy of the $785 cardinal anticipated.

Penn Entertainment, DraftKings — Shares of sports betting institution Penn Entertainment surged 7% a time aft the steadfast said it is partnering with Disney-owned ESPN to rebrand and relaunch its sportsbook arsenic ESPN Bet successful a 10-year deal. It's the archetypal clip ESPN's marque volition beryllium connected a sports-betting platform. Penn rival DraftKings saw shares dropping 9% pursuing the news.

Upstart — Shares plunged much than 32% connected disappointing guidance. Upstart, a user lending platform, said it expects third-quarter adjusted EBITDA and revenues to travel successful astir $5 cardinal and $140 million, respectively. Analysts estimated $155 cardinal successful gross and $9.6 cardinal successful adjusted EBITDA, per StreetAccount. Despite the banal move, the institution reported second-quarter results that topped estimates, including a astonishment adjusted nett of 6 cents a share,

Lyft — The ride-sharing company's shares tumbled astir 8% pursuing its second-quarter net announcement aft the doorbell Tuesday. Lyft posted gross of $1.02 billion, which came successful enactment with expert estimates, according to Refinitiv. The institution posted adjusted net came successful astatine 16 cents per share, beating estimates of a nonaccomplishment of 1 cent per share. However, the company's gross per progressive idiosyncratic declined pursuing the company's efforts to trim thrust fares to vie with Uber.

Rivian — Shares of the electrical conveyance shaper slipped much than 8% a time after it reported a smaller-than-expected loss. Rivian posted an adjusted nonaccomplishment per stock of $1.08 successful the 2nd quarter, portion the Street anticipated a nonaccomplishment of $1.41 per share, per Refinitiv. Analysts, however, noted that headwinds stay for the company, which could bespeak a "long way to profitability," including steeper contention and a depletion of escaped currency flow.

Carvana — The online car retailer's banal slipped much than 3%. Carvana shared better-than-expected guidance for the 3rd quarter, saying it expects EBITDA supra $75 million. Analysts polled by FactSet called for EBITDA to travel successful a small implicit $46 million.

Twilio — Twilio added 2.5% a time aft topping second-quarter net expectations. The institution reported earnings, excluding items, of 54 cents a stock connected $1.04 cardinal successful revenue. That came successful up of the EPS of 30 cents and revenues of $986 cardinal expected by analysts, according to Refinitiv.

Celsius Holdings — Celsius Holdings soared 21% aft the beverage institution known for its enactment of vigor drinks bushed analysts' expectations successful its 2nd quarter. Late Tuesday, the institution posted net of 52 cents per share, exceeding the 28 cents per stock estimation from analysts polled by Refinitiv. Revenue came successful astatine $326 million, acold amended than the anticipated $276 million.

Toast — The edifice absorption bundle banal gained 15%. On Tuesday, Toast reported $978 cardinal successful gross for the 2nd quarter, besting analysts' estimates of $942 million, per Refinitiv. The institution besides issued rosy guidance for 3rd 4th and afloat year.

Super Micro Computer — The accusation exertion institution and beneficiary of the latest artificial quality craze cratered much than 23%. On Tuesday, Super Micro Computer reported adjusted net of $3.51 per stock connected revenues of $2.18 billion. Analysts surveyed by Refinitiv anticipated net of $2.96 per stock connected gross of $2.08 billion. The institution besides offered guidance with a midpoint somewhat supra expectations.

Bumble — Dating level Bumble slid 7%. On Tuesday, the institution offered anemic expectations for adjusted EBITDA successful the existent 4th erstwhile compared against a statement estimation compiled by FactSet. The institution anticipates adjusted EBITDA of $71 cardinal to $73 million, compared to estimates of $74.8 million.

Akamai Technologies — Shares of Akamai Technologies jumped 9%. The bundle supplier posted stronger-than-expected quarterly results connected Tuesday. The institution reported net of $1.49 per share, excluding items, connected revenues of $935.7 million, up of the $1.41 per stock and $930.4 cardinal anticipated by analysts, per FactSet.

Axon Enterprise — Shares of the taser-maker popped 14% connected beardown quarterly results that topped Wall Street's expectations. On Tuesday, Axon Enterprise posted adjusted net of $1.11 per stock connected revenues totaling $374.6 million. Analysts anticipated 62 cents per stock successful EPS and gross of $350.5 million, per FactSet. The institution besides boosted its full-year guidance.

IAC — Shares of media and net institution sank 13% connected disappointing quarterly results. On Tuesday, IAC posted a larger than an expected nonaccomplishment of $1.07 per share, up of 82-cent nonaccomplishment expected by analysts, according to Refinitiv. Revenues came successful astatine $1.11 billion, somewhat down the $1.12 cardinal expected.

Marqeta — Shares of the payments level institution surged astir 15% a time aft Marqeta announced that it had struck a woody to proceed servicing Block's CashApp done June 2027. The institution besides reported a mixed 2nd quarter. Marqeta mislaid 11 cents per stock connected $231 cardinal of revenue. Analysts surveyed by Refinitiv were expecting a nonaccomplishment of 9 cents per stock connected $219 cardinal of revenue.

— CNBC's Hakyung Kim, Pia Singh, Brian Evans, Jesse Pound, Alex Harring, Yun Li and Sarah Min contributed reporting