HOOD - Hot Stocks: HOOD job cuts; FFIV drops on earnings; KHC climbs; MAT takeover chatter

One-time meme-stock darling Robinhood (NASDAQ:HOOD) hit yet another hurdle in Wednesday's midday action, falling to a new low after announcing job cuts. F5 Networks (FFIV) lost ground as well, hurt by the release of its quarterly results. Meanwhile, earnings news had the opposite impact on Kraft Heinz (KHC), which advanced on better-than-expected financial figures. Mattel (MAT) was also higher in intraday trading, boosted by reports that it has held preliminary discussions to sell itself to private equity suitors. Decliners Robinhood (HOOD) suffered selling pressure after revealing that it has been forced to cut back on staffing levels in an effort to fuel improved efficiency. Shares fell about 5% in midday action after announcing it was slashing headcount by 9%. Commenting on the move, Vlad Tenev, the fintech's CEO, said rapid headcount growth during its recent wave of expansion "has led to some duplicate roles and job functions and more layers

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Hot Stocks: HOOD job cuts; FFIV drops on earnings; KHC climbs; MAT takeover chatter