VERU - Hot Stocks: WRBY GOOS VERU rally; MQ drops on forecast management changes

While earnings season is winding down, the release of quarterly results still provided one of the critical catalysts in Thursday's midday action. This included Warby Parker ( WRBY ), which rallied despite a weak forecast, as investors focused on the firm's cost-cutting commitment.

Elsewhere, Canada Goose ( GOOS ) gained ground on its financial figures, while Veru ( VERU ) received buying interest after it highlighted the potential upside it could see if it gets a regulatory green light for its COVID treatment.

On the other side of the spectrum, Marqeta ( NASDAQ: MQ ) dropped on an uninspiring forecast and a major shift in its C-Suite.

Gainers

Shares of Warby Parker ( WRBY ) surged 18% in midday trading even amid a weak forecast from the online eyewear retailer. The gains came as the company took steps to lower costs in the face of an "uncertain macroeconomic environment."

WRBY reported a loss for the latest quarter that came in narrower than expected. Revenue growth met expectations, rising nearly 14% to almost $150M.

Looking ahead, the company issued a soft forecast for the full year, its forecast saying it now expects 2022 sales of between $584M and $585M. Analysts were looking for a figure around $641M.

In a statement, the company said, "we are taking a disciplined approach to managing costs to set us up for sustainable growth and profitability.” This came amid reports that the WRBY had cut 63 corporate positions .

Meanwhile, the release of a quarterly update gave a lift to shares of Canada Goose ( GOOS ). Shares climbed almost 3% after the Toronto-based outerwear manufacturer exceeded projections on both the top and bottom lines, including a 34% advance in revenue.

Veru ( VERU ) represented another standout gainer in the wake of earnings news . The company missed expectations in its latest quarter but highlighted the potential benefit if its sabizabulin COVID treatment were to receive emergency-use approval from U.S. regulators.

Given this potential tailwind, shares of VERU jumped about 29%.

Decliner

Signs of slowing growth and a major management shakeup sent shares of Marqeta ( MQ ) spiraling. The stock dropped 24% in midday action.

The credit card issuer platform beat expectations with its Q2 results but gave a Q3 forecast that showed slowing revenue growth compared to the prior quarter. Meanwhile, the firm also announced the resignation of its COO and the launch of a search for a new CEO .

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