A logo of the ride-hailing giant Didi Chuxing can be seen on a building in Hangzhou in the eastern Chinese province of Zhejiang.
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Check out the companies that are making headlines in midday trading.
DocuSign – Software shares fell 42% after the company released a fourth-quarter sales forecast that fell short of analysts' expectations. DocuSign put a range of $ 557 million to $ 563 million, while analysts surveyed by Refinitiv expected $ 573.8 million.
Asana – The labor management platform stocks are down 26%, despite third-quarter results beating expectations. Asana posted an adjusted loss of 23 cents per share, according to StreetAccount, which was lower than its analyst estimated loss of 27 cents per share.
Ollie's Bargain Outlet – The discount retail chain's stocks fell 20% after Ollie missed its third-quarter revenue and profit lines estimates. Ollie & # 39; s said supply chain issues hurt its results. The forecast for earnings and sales was also weaker than expected.
DiDi Global – Shares in the Chinese ridesharing giant fell 22% after the company announced it would delist "immediately" from the New York Stock Exchange while Beijing cracks down on overseas listings. The company announced that it would seek a listing in Hong Kong instead. Didi said its US shares would be converted into "freely tradable shares" on another international exchange.
Marvell Technology – The chipmaker's shares rose 17% after announcing quarterly results that beat estimates for sales and earnings. Marvell's adjusted earnings were 43 cents per share on sales of $ 1.21 billion, while analysts surveyed by Refinitiv expected 39 cents per share on sales of $ 1.15 billion.
Nvidia – The chipmaker's share price fell 4% as the proposed $ 40 billion takeover of chip designer Arm becomes increasingly unlikely. The deal should close in March but is facing a growing number of regulatory investigations around the world.
Big Lots – The retailer rose 5.3% after reporting a lower-than-expected loss per share of 14 cents for the third quarter, compared to analysts' expectations of 16 cents. Big Lots also exceeded revenue expectations, bringing in $ 1.34 billion, up from estimates of $ 1.32 billion, according to StreetAccount.
Peloton – The exercise bike company's shares fell more than 2%, returning an earlier profit fueled by Deutsche Bank's inclusion of a buy rating for the share. The company said that while it was a "tough ride in 2021", "patience will ultimately be rewarded". From a fundamental point of view, Deutsche Bank believes that Peloton can continue to be profitable in a fully reopened economic environment.
Zillow – The digital real estate company's shares rose 10% after it announced it had sold or is about to sell roughly half of the homes it bought for its home flipping business in early November should be closed. Zillow also announced on Thursday that it would buy back shares valued at up to $ 750 million, roughly 5.5% of its current market cap, Bloomberg reported.
Tesla – Tesla shares fell more than 6% after CEO Elon Musk sold an additional $ 1 billion in Tesla shares, bringing his recent stock sales to $ 10.9 billion.
– CNBC's Jesse Pound, Pippa Stevens and Yun Li contributed to the coverage