Apple, Carvana, PacWest stocks rally, AMC and Lyft shares fall, and other stocks on the move

By MarketWatch

AMC's stock rises, then turns lower in active trading after quarterly results

Here are some stocks that were among the more active and more-prominent movers on Friday.

Stock gainers:

Shares of Carvana Co.(CVNA) skyrocketed more than 34% in morning trading, after the online used-car retailer narrowed its quarterly loss and said it was on track for a degree of profitability in the current quarter.

Apple Inc. shares (AAPL) were more up nearly 5%, after the iPhone maker beat expectations with its fiscal second-quarter report and promised billions more to investors in share buybacks and dividends.

After plunging 50% Thursday, PacWest Bancorp shares (PACW) rocketed 54%, while shares of fellow regional bank Western Alliance Bancorp(WAL) ran up 31% after falling 38% the day before. The big bounces come after a report that state and federal authorities are assessing the possibility of market manipulation in bank stocks' recent volatility.

Coinbase Global Inc.'s stock (COIN) jumped more than 11%, after the crypto exchange reported first-quarter results that topped expectations while trying to rein in costs.

Icahn Enterprises LP stock (IEP) rallied 19%, as activist investor Carl Icahn's company said it will pay out $2 per unit and it does not face a liquidity problem Icahn Enterprises has been under a cloud after a short seller report earlier this week accused it of inflating its value.

DraftKings Inc.'s stock (DKNG) stock was headed for an 18% gain after quarterly results topped revenue expectations and executives increased their annual guidance

FuboTV Inc.'s stock (FUBO) shot up 38% after the live TV streaming platform reported first-quarter results that beat expectations and raised its full-year subscriber outlook.

Cigna Group shares (CI) bounced more than 7% off Thursday's 11-month closing low, after the health insurer beat first-quarter profit and revenue expectations, and raised its full-year outlook.

Bill.com Holdings Inc. shares (BILL) rallied more than 15%, after the business-automation software company topped Wall Street expectations on its results and outlook

Shares of Expedia Group Inc.(EXPE) traveled 8% higher after the online travel service reported a big jump in fiscal first-quarter revenue and a 20% increase in gross bookings to $29.4 billion.

Live Nation Entertainment Inc. shares (LYV) jumped roughly 13% as the parent company of Ticketmaster said that losses narrowed in the first quarter amid "incredible" demand for live concerts.

Dropbox Inc. shares (DBX) rallied 8% after the cloud-storage company exceeded profit and revenue expectations for the latest quarter.

Stock decliners:

AMC Entertainment Inc.'s stock (AMC) swung to a loss of 0.7% in active trading, after gaining as much as 3.2% intraday, after the movie theater chain and one of the original "meme" stocks reported a narrower-than-expected first-quarter loss and revenue that rose above forecasts, in what Chief Executive Officer Adam Aron described as the "strongest first quarter in four full years."

Lyft Inc. shares (LYFT) sank 19% on heavy volume Friday, after a new chief executive's quarterly guidance came in light on revenue and adjusted earnings.

Shares of Atlassian Corp.(TEAM) dropped 11%, after the collaboration and productivity software company turned in a beat-and-lower expectations quarter.

Microchip Technology Inc. shares (MCHP) fell about 3% after the computer-components maker reported a slight beat on earnings and its outlook was in-line with Street expectations.

It was the same with Monolithic Power Systems Inc.: Shares (MPWR) tumbled 12% after the chip-based electronics component maker reported a slight beat on earnings and a disappointing outlook for the current quarter.

Wish parent company ContextLogic Inc.(WISH)reported less than $100 million in quarterly revenue for the first time on record, and shares sank about 10%.

-MarketWatch

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05-05-23 1045ET

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