TWLO - Hot Stocks: NET FUBO jump following quarterly updates; TWLO drops; ATCO rallies on takeover bid

Earnings news remained a significant driver in Friday's midday trading. CloudFlare ( NYSE: NET ) and FuboTV ( FUBO ) both climbed in the wake of their quarterly updates.

Meanwhile, Twilio ( TWLO ) saw the opposite impact from the release of its financial figures. A weak outlook prompted a wave of selling.

In other news, Atlas ( ATCO ) rallied on a takeover bid.

Gainers

CloudFlare ( NET ) rallied in the wake of its Q2 earnings report , which showed significant customer additions for the latest quarter and included raised guidance for the full year. Shares jumped 26% on the news.

The cloud services provider reported breakeven adjusted EPS for Q2, compared to a loss projected by analysts. Revenue climbed 54%. Meanwhile, the company predicted 2022 revenue of $968M to $972M, beating the $959M that experts were targeting.

FuboTV ( FUBO ) represented another standout gainer in midday trading, with shares jumping almost 20%.

The streaming TV service reported a narrower-than-expected quarterly loss and issued a strong subscriber forecast. The company also said it would conduct a strategic review of its online sports wagering platform, saying it will no longer pursue an integrated live video and sports book on its own.

The list of significant intraday gainers also included Atlas ( ATCO ). The asset manager jumped 23% after it received a takeover offer from consortium group Poseidon Acquisition Corp.

Decliner

Twilio ( TWLO ) endured selling pressure following the release of its quarterly report. The firm's Q2 results beat expectations but shares dropped 13% on a weak Q3 outlook .

For the current quarter, the company predicted revenue between $965M and $975M. Analysts were looking for a figure of around $979M.

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