Here are the stocks making headlines in midday trading.
Virgin Galactic — The space exploration stock fell 11.3%, continuing its volatile trading after Tuesday's dramatic intraday turnaround. Ark Invest revealed on Tuesday night that its space exploration ETF had sold almost all of its stake in the company.
FuboTV — Shares of FuboTV gained 9.7% following the release of the company's first-quarter results. FuboTV reported a loss of 59 cents per share, which was not comparable to estimates. The company made $119.7 million in revenue, topping a Refinitiv forecast of $103.9 million.
Vizio — Vizio shares slid 13.1% after the company posted a profit of 2 cents per share for the first quarter, which was not comparable to estimates. Revenue came in at $506 million, while analysts polled by Refinitiv expected sales of $484 million. Vizio also said Smart TV shipments came in at 1.5 million, below a FactSet estimate of 1.65 million.
NortonLifeLock — The security software stock jumped 7.2% after the company received a double upgrade from Bank of America. The investment firm said there could be a "renaissance" for consumer security technology in the years ahead.
Domino's Pizza – Shares of the pizza chain jumped about 0.7% after billionaire hedge fund manager Bill Ackman said Pershing Square built a 6% stake in the company. Ackman said he's bullish on Domino's pioneering moves in technology and delivery. The stock is up more than 13% in 2021.
Lemonade — The insurance company's shares dropped 18.5% after Lemonade reported a loss of 81 cents per share for the first quarter, failing to beat expectations, on $23.5 million of revenue. Analysts surveyed by Refinitiv were looking for a loss of 81 cents per share on $22 million of revenue.
Wolverine World Wide — Shares of the footwear company slid 12.9% after a first-quarter report that failed to beat expectations. Wolverine reported earnings of 40 cents per share on $511 million in revenue. Analysts surveyed by Refinitiv had penciled in 40 cents in earnings per share and $512 million in revenue.
Unity Software — The tech stock dipped 0.4% despite posting a smaller-than-expected loss for the first quarter and receiving an upgrade from Stifel. Unity's stock price has dropped more than 50% in the last five months.
Dollar General – The discount retailer's stock price fell 3.8% after RBC Capital Markets downgraded the stock to sector perform from outperform. The Wall Street firm said Dollar General's growth might slow down faster than its peers as stimulus benefits fade.
Lordstown Motors – Shares of the electric truck company shed 7.1% after Lordstown said it would restate its 2020 financial statements. The announcement comes after guidance from regulators last month about accounting and reporting for special purpose acquisition companies.