RENT - Hot Stocks: RENT MOMO surge on earnings news; AI climbs; CUTR drops on convertible note offering

Thursday's midday trading saw earnings news spark massive gains in a couple of stocks that were beaten down earlier this year. Rent the Runway ( NASDAQ: RENT ) jumped more than 50% and Hello Group ( MOMO ) expanded its value by more than a quarter following the release of their respective quarterly reports.

The announcement of financial figures also gave a lift to C3.ai ( AI ), which posted better-than-expected quarterly results.

On the other side of the spectrum, Cutera ( CUTR ) posted a notable midday slide. A convertible note offering sparked selling.

Gainers

Rent the Runway ( RENT ) skyrocketed following the release of its latest quarterly update , with shares surging 58% in intraday trading. This came after the online fashion rental platform reported better-than-expected revenue for Q3.

RENT said its top-line figure jumped 31% from last year. Meanwhile, the company also raised its sales forecast for the full year.

Earnings news also prompted buying in Hello Group ( MOMO ). Shares of the Chinese social and entertainment platform jumped 27% after topping projections with its Q3 results.

C3.ai ( AI ) benefited from the release of its financial figures as well, with the stock climbing 7%. The AI software provider reported a loss that came in narrower than analysts had projected. Meanwhile, revenue climbed 7% to $62.4M.

Decliner

Cutera ( CUTR ) lost significant ground in intraday action following news of a convertible note offering . The company said it has priced a private offering of $100M of convertible senior notes.

The provider of aesthetic and dermatology solutions reported that the initial conversion rate will be 17.1378 shares of Cutera's ( CUTR ) common stock per $1,000 principal amount of notes. On the news, shares dropped almost 7% in midday action.

To keep track of Wall Street's biggest winners and losers throughout the session, head over to Seeking Alpha's On The Move section .

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