TUP - Hot Stocks: TUP ANF slump on financial figures; DUOL surges; SRPT climbs on FDA decision

Earnings news remained a key mover for individual stocks in Wednesday's midday trading. Tupperware Brands ( NYSE: TUP ) and Abercrombie & Fitch ( ANF ) both lost ground on the release of financial figures.

Meanwhile, Duolingo ( DUOL ) headed in the opposite direction on its quarterly results, jumping on Street-beating financial figures. Meanwhile, Sarepta ( SRPT ) rallied on a positive regulatory development.

Decliners

Tupperware Brands ( TUP ) crashed nearly 17% in midday trading after the consumer products maker reported a preliminary loss for Q4 , compared to a profit in the same period last year. The firm said sales dropped 18% to $1.3B.

"2022 was a true test of our resolve," the company's CEO said. "Events did not unfold in our favor, so we reacted quickly to the challenges." He noted that the company has "pivoted towards a new post-pandemic phase where we believe our core direct selling business will benefit from the return to in-person events."

Abercrombie & Fitch ( ANF ) edged lower in intraday action after issuing a mixed quarterly update . The apparel retailer reported Q4 EPS of $0.81, missing analysts' expectations by $0.05.

While noting that it has faced "significant inflation and global macroeconomic disruption," the company said it remains “cautiously optimistic on consumer demand” in 2023.

Gainers

The release of quarterly results spurred buying in Duolingo ( DUOL ), sending shares of the language learning program higher by 18% in midday action. The company reported a narrower-than-projected loss, with revenue that surged 42% from last year.

DUOL also reported that paid subscribers jumped 67% to reach 4.2M at the end of the quarter. Meanwhile, monthly active users rose more than 40% to 60.7M.

Sarepta ( SRPT ) jumped nearly 20% in intraday action following a favorable decision from the U.S. Food and Drug Administration. The FDA said that the regulatory body would not need to hold an advisory committee hearing for the company's SRP-9001 for Duchenne muscular dystrophy.

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