While the overall markets have put in a lackluster performance on Thursday, Coinbase ( COIN ) represented a standout gainer in midday action, extending a recent winning streak on news of a partnership with BlackRock ( BLK ).
Global Blood Therapeutics ( GBT ) also saw a substantial intraday gain, boosted by takeover speculation.
Looking at some of the day's notable decliners, disappointing forecasts triggered selling in both Lucid Group ( LCID ) and Crocs ( NASDAQ: CROX ).
Gainers
Coinbase ( COIN ) received substantial buying interest after announcing a Bitcoin-focused partnership with asset manager BlackRock ( BLK ). Under the deal, COIN will help BLK's institutional clients to trade Bitcoin ( BTC-USD ).
COIN surged 17% on the news. This has extended a recent advance, including a 20% jump on Wednesday, amid a rise in cryptocurrencies. The stock has climbed 77% since its close on July 26.
Elsewhere, reports of a potential buyout deal sent Global Blood Therapeutics ( GBT ) sharply higher. According to a Bloomberg report, multiple large pharma companies have an interest in acquiring the drug maker.
Boosted by the takeover chatter, GBT rose 36% in midday trading.
Decliners
Lucid Group ( LCID ) lost ground following the release of its Q2 results, with a reduced production schedule prompting a 10% drop in shares of the electric vehicle maker.
The company reported a narrower-than-expected loss for its latest quarter. However, LCID said it now expected to produce between 6K and 7K vehicles in 2022, down from a previous target of 12K to 14K.
A weak outlook also put pressure on Crocs ( CROX ). The stock dropped 13% in intraday action.
The footwear maker reported quarterly results that beat analysts' expectations. However, the company cut its EPS forecast to $9.50 to $10.30, down from a previous range of $10.05 to $10.65. Analysts were looking for a figure of $10.35.
For more of the day's best- and worst-performing stocks, head over to Seeking Alpha's On The Move section .
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Hot Stocks: COIN jumps on BLK deal; GBT takeover chatter; LCID, CROX drop on earnings