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Twitter, Figs Fall Premarket; Tesla, Robinhood, Affirm Rise

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·2 min read
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By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Friday, May 13th. Please refresh for updates.

Twitter (NYSE:TWTR) stock fell 11% after Elon Musk said his $44 billion deal to take the company private is "temporarily on hold", while the two sides wrangle over the extent of fake and spam accounts on the social media network.

Tesla (NASDAQ:TSLA) stock rose 5.4% as the risk of a significant equity overhang faded on Musk’s news. The electric vehicle maker’s stock has fallen 27% since the Twitter deal was announced last month.

Robinhood (NASDAQ:HOOD) stock rose over 22% after a filing showed that Sam Bankman-Fried, the billionaire founder and CEO of cryptocurrency exchange FTX has acquired a substantial 7.6% stake in the popular online brokerage.

Affirm (NASDAQ:AFRM) stock rose 39% after the buy-now, pay-later lender reported a smaller-than-expected loss for the first quarter while revenue also impressed. The company also announced it was extending its partnership with Shopify (NYSE:SHOP), up 5.8%.

Figs (NYSE:FIGS) stock dropped 21% after the healthcare apparel company cut its full-year guidance, citing “supply-chain challenges”.

Toast (NYSE:TOST) stock rose 14% after the cloud-based restaurant software company raised its full-year revenue guidance, saying it added more than 5,000 net locations last quarter for the first time.

Honest Company (NASDAQ:HNST) stock rose 7.2% after the eco-friendly consumer goods company stuck with its full-year financial outlook despite inflation and supply chain pressures.

Duolingo (NASDAQ:DUOL) stock rose 17% after the mobile-learning platform reported a strong first quarter with record bookings, prompting the company to raise its full-year guidance.

Honda (NYSE:HMC) ADRs rose 0.5% after the Japanese auto giant put out better-than-expected earnings, even if it cut its guidance at the same time.

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