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Midday Stock Movers: Beyond Meat, Snap, Zoom

Investing.com
·1-min read

By Sam Boughedda

Investing.com -- Yesterday's rise has been short-lived as U.S. equities slide again Tuesday. Here are your midday movers on May 24th.

Snap Inc (NYSE:SNAP) stock has plummeted 40% after the social media company issued a profit warning aftermarket Monday. The company said it sees revenue and EBITDA below the bottom end of the guidance while it is dealing with headwinds such as inflation and an uncertain economic environment. The news has hit other social media stocks such as Meta (NASDAQ:FB), Twitter (NYSE:TWTR) and Pinterest (NYSE:PINS). Zoom Video (NASDAQ:ZM) is up 6% Tuesday midday after it reported earnings after the close Monday, beating earnings estimates. Insulin delivery system device maker Insulet (NASDAQ:PODD) is up 6% midday after reports stated it was in talks to be acquired by DexCom (NASDAQ:DXCM). Dexcom is down 9.7%. Best Buy (NYSE:BBY) jumped in early Tuesday trading but is now up just 0.2% after it reported a mixed quarter. The company cut its sales and profit forecasts for the year, while first-quarter sales beat expectations and earnings missed forecasts. Americas Car-Mart (NASDAQ:CRMT) reported earnings after the close Monday, smashing earnings and revenue estimates. The company posted a profit of $4.01 per share on revenue of $351.85 million. Analysts polled by Investing.com expected earnings per share of $3.10 on revenue of $297.23 million. CRMT stock has gained 20%. Beyond Meat (NASDAQ:BYND) surged at the start of the session after it launched a campaign with Kim Kardashian, naming her the company's first chief taste consultant. Beyond Meat shares have since plunged and are now down 7.5%.

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