Check out the companies making the biggest moves midday. Coinbase Global — Shares surged nearly 16% after the cryptocurrency exchange reported its first profit in two years. Coinbase’s fourth-quarter earnings came in at $1.04 per share, above the 1 cent loss expected from analysts polled by LSEG, formerly known as Refinitiv. Revenue was $954 million, versus the consensus estimate of $822 million. Roku — The streaming service provider slid 24% after posting a larger-than-expected loss for the fourth quarter. Average revenue per user, a key metric for Roku, also missed estimates. Nike — Shares pulled back 3% after the sneaker giant said it was laying off 2% of its workforce as part of a broader restructuring . The stock was also downgraded on Friday to perform from outperform at Oppenheimer, which cited spotty consumer demand, lulls in product innovation and modest competition. Applied Materials — Shares of the semiconductor equipment maker jumped 8.7% on the company’s better-than-expected fiscal first-quarter results and strong second quarter. The stock was also on pace for its best day since Nov. 10, 2022, when it surged 11%. Yelp — Shares tumbled 14% after the company gave disappointing full-year guidance. Yelp expects full-year revenue to come in between $1.42 billion and $1.44 billion, less than the $1.46 billion expected from analysts polled by LSEG. Its adjusted EBITDA guidance for the first quarter and full year were also light. Vulcan Materials — The construction materials company added 7% following a fourth-quarter earnings beat. Vulcan’s adjusted earnings per share came in at $1.46, topping the $1.40 expected from analysts polled by FactSet. Toast — The stock jumped nearly 17% after the restaurant management software company beat expectations for fourth-quarter earnings and revenue. Toast also said it plans to cut 500 jobs and announced $250 million in share buybacks. Dropbox — Shares shed 20% after the cloud storage company issued lower-than-expected first-quarter revenue guidance. Dropbox now forecasts revenue in the range of $627 million to $630 million, versus the $632.5 million expected from analysts polled by FactSet. Trade Desk — The stock popped almost 20% after the advertising software company said it expects first-quarter revenue to come in at $478 million, topping the $452 million guidance expected from analysts surveyed by LSEG. DoorDash — Shares tumbled 9% after the food delivery platform posted a larger-than-anticipated loss for the fourth quarter. DoorDash reported a loss of 39 cents per share, bigger than the loss of 16 cents forecast from analysts surveyed by LSEG. Elsewhere, the company beat expectations for revenue and announced a $1.1 billion share repurchase program. Super Micro Computer — The information technology company shed 11.6% after Wells Fargo initiated coverage of the stock with an equal weight rating. The firm said shares are “already discounting solid upside.” The stock has rallied 212% year to date. Bloom Energy — The green energy stock slumped nearly 19% after the company reported an earnings and revenue miss for the fourth quarter. Guidance for the full year also fell short of expectations. Carvana — Shares dropped 7% after Raymond James downgraded the used car dealer to underperform from market perform, expressing doubt in Carvana’s near-term growth outlook. Nvidia — Shares climbed more than 1% after Loop Capital initiated the chipmaker with a buy rating and a price target that calls for 65% upside over the next 12 months . — CNBC’s Samantha Subin, Sarah Min, Alex Harring and Pia Singh contributed reporting.
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