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Tag: Roblox Corp

  • DoorDash will transfer to Nasdaq from the NYSE in blow to Large Board

    Tony Xu, co-founder and CEO of DoorDash Inc., smiles right through the Wall Boulevard Magazine Tech Reside convention in Laguna Seashore, California, Oct. 22, 2019.

    Martina Albertazzi | Bloomberg | Getty Photographs

    DoorDash mentioned on Thursday that it is going to switch its checklist from the New York Inventory Trade to the Nasdaq, a possible blow to the NYSE.

    The meals supply corporate expects to start out buying and selling at the Nasdaq on Sept. 27 at marketplace open, below the similar image, “DASH,” in line with a submitting.

    “We’re thrilled to enroll in a neighborhood of main era firms with our switch to Nasdaq,” DoorDash Leader Monetary Officer Ravi Inukonda mentioned in a remark.

    The NYSE has been making an attempt for years to safe extra tech corporate listings and achieve proportion in opposition to the Nasdaq. Between 1983 and 2022, the Nasdaq had just about 7,000 preliminary public choices, in comparison to slightly below 1,400 at the NYSE, in line with statistics compiled by means of the College of Florida’s Jay Ritter.

    DoorDash’s introduced transfer comes because the tech IPO marketplace seems poised to select up after a hunch since overdue 2021. Arm, the U.Okay.-based chip design company, simply went public at the Nasdaq, and Instacart filed to debut at the Nasdaq ultimate month, checklist DoorDash as a competitor in its prospectus. Cloud instrument supplier Klaviyo filed to head public at the NYSE ultimate month.

    DoorDash first of all started buying and selling at the NYSE in December 2020, with a worth of $182 consistent with proportion. Its debut got here at a well-liked time for tech IPOs, inside months of the IPOs of Airbnb, Roblox and Want, the bargain market. Of the ones firms, handiest Roblox trades at the Large Board.

    WATCH: Arm, Instacart IPOs ushering in additional rational atmosphere

  • Shares making the most important strikes noon: Roblox, Penn Leisure, Upstart and extra

    Take a look at the corporations making headlines in noon buying and selling.

    Roblox — Stocks tanked 20% after the web gaming platform fell in need of second-quarter estimates. Roblox reported a lack of 46 cents in step with percentage, as opposed to the 45 cent loss anticipated by means of analysts polled by means of Refinitiv. Earnings got here in at $781 million, shy of the $785 million expected. The income determine is known as bookings by means of Roblox.

    Penn Leisure, DraftKings — Stocks of sports activities having a bet corporate Penn Leisure surged 7% an afternoon after the company stated it’s partnering with Disney-owned ESPN to rebrand and relaunch its sportsbook as ESPN Guess in a 10-year deal. It is the first time ESPN’s logo will likely be on a sports activities having a bet platform. Penn rival DraftKings noticed stocks losing 9% following the scoop.

    Upstart — Stocks plunged greater than 32% on disappointing steering. Upstart, a client lending platform, stated it expects third-quarter adjusted EBITDA and income to come back in round $5 million and $140 million, respectively. Analysts estimated $155 million in income and $9.6 million in adjusted EBITDA, in step with StreetAccount. In spite of the inventory transfer, the corporate reported second-quarter effects that crowned estimates, together with a marvel adjusted benefit of 6 cents a percentage.

    Lyft — The ride-sharing corporate’s stocks tumbled about 8% following its second-quarter profits announcement after the bell Tuesday. Lyft posted income of $1.02 billion, which got here consistent with analysts’ estimates, in line with Refinitiv. The corporate’s adjusted profits got here in at 16 cents in step with percentage, beating estimates of a lack of 1 cent in step with percentage. Alternatively, the corporate’s income in step with lively consumer declined following the corporate’s efforts to cut back experience fares to compete with Uber.

    Rivian — Stocks of the electrical automobile maker slipped greater than 8% an afternoon after it reported a smaller-than-expected loss. Rivian posted an adjusted loss in step with percentage of $1.08 in the second one quarter, whilst the Boulevard expected a lack of $1.41 in step with percentage, in step with Refinitiv. Analysts, alternatively, famous that headwinds stay for the corporate, which might point out a “lengthy trail to profitability,” together with steeper festival and a depletion of loose money waft.

    Carvana — The web automobile store’s inventory slipped greater than 3%. Carvana shared better-than-expected steering for the 0.33 quarter, announcing it expects EBITDA above $75 million. Analysts polled by means of FactSet referred to as for EBITDA to come back in a little bit over $46 million.

    Twilio — Twilio added 2.5% an afternoon after topping second-quarter profits expectancies. The corporate reported profits, except for pieces, of 54 cents a percentage on $1.04 billion in income. That got here in forward of the EPS of 30 cents and income of $986 million anticipated by means of analysts, in line with Refinitiv.

    Celsius Holdings — Celsius Holdings soared 21% after the beverage corporate recognized for its line of power beverages beat analysts’ expectancies in its moment quarter. Overdue Tuesday, the corporate posted profits of 52 cents in step with percentage, exceeding the 28 cents in step with percentage estimate from analysts polled by means of Refinitiv. Earnings got here in at $326 million, a long way larger than the predicted $276 million.

    Toast — The eating place control instrument inventory won 15%. On Tuesday, Toast reported $978 million in income for the second one quarter, beating analysts’ estimates of $942 million, in step with Refinitiv. The corporate additionally issued rosy steering for 0.33 quarter and entire yr.

    Tremendous Micro Laptop — The guidelines era corporate and beneficiary of the most recent synthetic intelligence craze cratered greater than 23%. On Tuesday, Tremendous Micro Laptop reported adjusted profits of $3.51 in step with percentage on income of $2.18 billion. Analysts surveyed by means of Refinitiv expected profits of $2.96 in step with percentage on income of $2.08 billion. The corporate additionally introduced steering with a midpoint somewhat above expectancies.

    Bumble — Relationship platform Bumble slid 7%. On Tuesday, the corporate introduced susceptible expectancies for adjusted EBITDA within the present quarter compared with a consensus estimate compiled by means of FactSet. The corporate anticipates adjusted EBITDA of $71 million to $73 million, when put next with estimates of $74.8 million.

    Akamai Applied sciences — Stocks of Akamai Applied sciences jumped 9%. The instrument supplier posted stronger-than-expected quarterly effects Tuesday. The corporate reported profits of $1.49 in step with percentage, except for pieces, on income of $935.7 million, forward of the $1.41 in step with percentage and $930.4 million expected by means of analysts, in step with FactSet.

    Axon Undertaking — Stocks of the taser maker popped 14% on sturdy quarterly effects that crowned Wall Boulevard’s expectancies. On Tuesday, Axon Undertaking posted adjusted profits of $1.11 in step with percentage on income totaling $374.6 million. Analysts expected 62 cents in profits in step with percentage and income of $350.5 million, in step with FactSet. The corporate additionally boosted its full-year steering.

    IAC — Stocks of the media and web corporate sank 13% on disappointing quarterly effects. On Tuesday, IAC posted a larger-than-expected lack of $1.07 in step with percentage, forward of an 82 cent loss anticipated by means of analysts, in line with Refinitiv. Earnings got here in at $1.11 billion, somewhat at the back of the $1.12 billion anticipated.

    Marqeta — Stocks of the bills platform corporate surged about 15% an afternoon after Marqeta introduced it had struck a deal to proceed servicing Block’s CashApp thru June 2027. The corporate additionally reported a combined moment quarter. Marqeta misplaced 11 cents in step with percentage on $231 million of income. Analysts surveyed by means of Refinitiv have been anticipating a lack of 9 cents in step with percentage on $219 million of income.

    — CNBC’s Hakyung Kim, Pia Singh, Brian Evans, Jesse Pound, Alex Harring, Yun Li and Sarah Min contributed reporting.

  • Roblox stocks drop 17% after corporate misses estimates on most sensible and final analysis

    Roblox Company Founder and CEO David Baszucki.

    Steve Jennings | Getty Pictures

    Stocks of Roblox fell 17% Wednesday after the corporate reported second-quarter effects that ignored analysts’ expectancies on most sensible and backside traces.

    Here is how the corporate did:

    Loss consistent with proportion: 46 cents loss vs. 45 cents loss consistent with proportion anticipated, in line with a Refinitiv survey of analysts.Income (bookings): $781 million vs. $785 million anticipated, in line with Refinitiv.

    The income determine is what Roblox calls bookings, a class that comes with gross sales identified all through the quarter and deferred income. Bookings rose by means of 22% yr over yr. Roblox reported $639.9 million in bookings within the year-ago quarter. The corporate generates income from gross sales of its digital forex referred to as Robux, which gamers use to decorate up their avatars and purchase different top class in-game options.

    Roblox reported 65.5 million reasonable day by day energetic customers, up 25% from a yr previous. Customers spent greater than 14 billion hours engaged in Roblox all through the fourth quarter, up 24% yr over yr.

    The corporate’s platform has traditionally been well-liked by more youthful youngsters, however Roblox has been operating to increase utilization throughout all age teams. In June, Roblox introduced eligible creators can construct stories that includes mature content material like some sorts of violence, romantic subject matters and somewhat crude humor for customers ages 17 and older.

    In a letter to shareholders Wednesday, the corporate stated it noticed enlargement in day by day energetic customers throughout all age teams and geographies.

    The corporate reported a web lack of $282.8 million for the quarter, which ended June 30. Roblox reported a web lack of $176.4 million for a similar length in 2022. It stated web losses greater over the year-ago quarter because of “upper ranges of expense required to strengthen the expansion of the trade,” akin to company overhead, developer trade charges, infrastructure and group of workers prices, in line with the letter.

    Roblox added that it expects to proceed to file losses for the “foreseeable long term.”

    The corporate stated reasonable bookings consistent with day by day energetic consumer was once $11.92, down 3% yr over yr.

    Roblox will grasp its quarterly name with buyers at 8:30 a.m. ET.

  • Mature content material involves Roblox for customers elderly 17 and up

    A kid appears again at a banner for Roblox, exhibited to rejoice the corporate’s IPO, at the entrance facade of the New York Inventory Change (NYSE) in New York, March 10, 2021.

    Brendan McDermid | Reuters

    Roblox on Tuesday introduced eligible creators can construct reviews that includes some mature content material and storylines for customers 17 and older.

    The announcement comes after the corporate shared its “imaginative and prescient for every age” in Might, the place Roblox mentioned it’s going to try to incorporate age-appropriate reviews for “each and every existence degree” on its platform. Other folks between the ages of 17 and 24 make up 22% of Roblox’s group, and the choice of day-to-day energetic customers on this age team grew 35% 12 months over 12 months within the corporate’s first quarter.

    As a part of the brand new reviews introduced Tuesday, older customers will be capable to view content material that can include some sorts of violence, romantic issues, depictions of blood and alcohol, relatively crude humor and unplayable playing.

    Roblox prior to now supported reviews for customers elderly 9 and up, customers elderly 13 and up and a few without a age restrictions. The corporate mentioned the brand new choices for customers elderly 17 and up will grow to be to be had to eligible customers within the coming weeks.

    Customers will handiest be capable to create or view the brand new content material in the event that they test their age on Roblox through importing each a selfie and a photograph in their government-issued ID. Folks too can prohibit their youngsters’ get entry to to positive reviews via Roblox’s parental controls.

    Stocks of Roblox are up round 44% 12 months so far, whilst the Nasdaq is up round 31% for a similar length.

  • Roblox studies wider-than-expected loss however lively customers up 22%

    A person images a Roblox banner displayed, to rejoice the corporate’s IPO, at the entrance facade of the New York Inventory Alternate (NYSE) in New York, March 10, 2021.

    Brendan McDermid | Reuters

    Roblox stocks rose 3% in premarket buying and selling Wednesday after the online game corporate reported fiscal first-quarter effects.

    Here is how the corporate did:

    Loss in step with percentage: 44 cent loss vs. 40 cent loss in step with percentage anticipated, in step with a Refinitiv survey of analysts.Earnings (bookings): $774 million vs. $766 million anticipated, in step with Refinitiv.

    The earnings determine is what Roblox calls bookings. It comprises gross sales known all the way through the quarter and deferred earnings.

    Moderate day-to-day lively customers, or DAUs, reached 66 million, up 22% year-over-year. Engagement hours totaled 14.5 billion, additionally up 23% year-over-year. Each DAU and engagement enlargement noticed the biggest will increase amongst Roblox’s world and 13-and-older segments. Each the ones numbers are all-time highs for Roblox.

    On an analyst name following the profits file, CEO and founder David Baszucki attributed the bookings enlargement to “8 quarters of innovation and superior engineering.”

    “And whilst customers of every age also are rising, older customers proceed to give a contribution essentially the most, with the ones between the ages of 17-24 rising via 35% in Q1 2023 over Q1 2022,” the corporate stated in its profits unlock.

    The corporate reported a web lack of $268 million for the quarter, or a lack of 44 cents in step with percentage, in comparison to a web lack of $160.2 million, or a lack of 27 cents in step with percentage, within the year-ago quarter.

    Amid a broader downturn in tech spending and hiring, the corporate signaled that it used to be ok with provide headcount and repayment ranges, given “the momentum we see in bookings.” Roblox noticed its adjusted earnings, or bookings, develop 23% year-over-year.

    “We will be able to now start to gradual our year-over-year will increase in headcount and repayment bills,” the corporate stated in its profits unlock, with bookings enlargement anticipated to exceed repayment enlargement starting within the first fiscal quarter of 2024 and onwards.

  • Shares making the largest strikes premarket: SVB Monetary, Allbirds, DocuSign and extra

    Signage out of doors Silicon Valley Financial institution headquarters in Santa Clara, California, US, on Thursday, March 9, 2023.

    David Paul Morris | Bloomberg | Getty Photographs

    Take a look at the corporations making headlines in early morning buying and selling.

    SVB Monetary — Stocks of the corporate referred to as Silicon Valley Financial institution prolonged their giant slide, falling greater than 40% in early morning buying and selling after the corporate Thursday introduced a plan to boost greater than $2 billion in capital to assist offset losses on bond gross sales. The scoop weighed on all the banking sector for a 2d day, with First Republic Financial institution dropping 7.5% within the premarket and crypto centered Signature Financial institution down 4%. Zions Bancorporation fell 2%. Within the earlier consultation, SVB completed down 60%.

    Allbirds — Stocks of the sneakers store plummeted greater than 22% after the corporate did not publish year-over-year quarterly gross sales enlargement for the primary time in its historical past. Allbirds additionally unveiled a vast transformation technique and an government shake-up.

    DocuSign — The digital signature platform dropped just about 14% regardless of an profits and earnings beat. Alternatively, DocuSign introduced CFO Cynthia Gaylor would step down later this 12 months. The inventory used to be additionally downgraded through JPMorgan to underweight from impartial. The company cited deteriorating call for traits, attainable festival from Microsoft and Gaylor’s departure.

    Oracle — The tool corporate dropped 4.9% after earnings for its newest quarter ignored analysts’ expectancies. Oracle posted $12.4 billion, when compared with Wall Boulevard’s estimates of $12.42 billion, consistent with Refinitiv.

    Hole — The attire store noticed its stocks drop greater than 7% after it introduced a large quarterly loss, declining gross sales and a chain of government adjustments. It additionally issued weaker-than-expected steerage for its first quarter and full-year earnings, consistent with Refinitiv.

    Vail Lodges — The inventory misplaced 2% following a combined monetary file for its 2d fiscal quarter and susceptible steerage that integrated profits that fell wanting analysts’ estimates. The corporate’s steerage on web source of revenue and altered EBITDA for the 12 months main as much as July additionally got here in beneath analysts’ expectancies.

    Roblox — Stocks climbed 2.9% after Jefferies upgraded Roblox to shop for from cling. The Wall Boulevard company stated it is assured the net gaming platform will proceed to turn robust enlargement regardless of macro pressures.

     — CNBC’s Sarah Min, Michelle Fox, Alex Harring and Jesse Pound contributed reporting

  • Roblox top off 26% after fourth-quarter income document beats estimates

    A person images a Roblox banner displayed, to have fun the corporate’s IPO, at the entrance facade of the New York Inventory Trade (NYSE) in New York, March 10, 2021.

    Brendan McDermid | Reuters

    Stocks of Roblox closed up 26% Wednesday after the corporate reported fourth-quarter income that beat analysts’ expectancies on best and backside strains.

    Here is how the corporate did:

    Loss in line with percentage: 48 cent loss vs. 52 cent loss in line with percentage anticipated, in step with a Refinitiv survey of analystsRevenue (bookings): $899.4 million vs. $881.4 million anticipated, in step with Refinitiv

    The income determine is what Roblox calls bookings, which come with gross sales known throughout the quarter and deferred income. Bookings rose through 17% 12 months over 12 months. Roblox reported $770.1 million in bookings within the year-ago quarter. The corporate generates income from gross sales of its digital foreign money referred to as Robux, which avid gamers use to decorate up their avatars and purchase different top rate options within the video games.

    Roblox reported 58.8 million reasonable day-to-day lively customers, up 19% from a 12 months previous. Customers spent greater than 12.8 billion hours engaged in Roblox throughout the fourth quarter, up 18% 12 months over 12 months.

    The corporate reported a web lack of $289.9 million for the quarter, which ended Dec. 31. Roblox reported a web lack of $143.3 million for a similar length in 2021.

    The corporate mentioned reasonable bookings in line with day-to-day lively consumer was once $15.29, down 2% 12 months over 12 months.

    Roblox noticed bookings swell greater than 200% throughout the pandemic when youngsters have been spending extra time on their monitors whilst they have been caught at house. The inventory was once blazing scorching in 2021, after Roblox’s direct checklist in March. Its marketplace cap neared $80 billion ahead of peaking in November 2021.

  • Shares making the largest strikes noon: Roblox, Airbnb, Barclays, Silvergate Capital & extra

    Rafael Henrique | SOPA Photographs | LightRocket | Getty Photographs

    Take a look at the firms making the largest strikes noon Wednesday:

    Roblox — Stocks of the online game corporate skyrocketed greater than 24% after the corporate reported $899.4 million in fourth-quarter bookings, surpassing the $875.3 million bookings anticipated by means of analysts, in line with StreetAccount. CEO David Baszucki additionally mentioned, “With 65 million day by day lively customers in January, we’re riding against our imaginative and prescient to reimagine the way in which other folks come in combination by means of enabling deeper sorts of expression, conversation and immersion.”

    Airbnb — Stocks of the holiday apartment corporate popped 12% after a stronger-than-expected fourth quarter. Airbnb reported 48 cents in profits according to proportion on $1.90 billion of income. Analysts surveyed by means of Refinitiv had projected 25 cents according to proportion and $1.86 billion of income. The corporate additionally mentioned it was once seeing “persisted robust call for” within the first quarter.

    Silvergate Capital — The crypto financial institution surged greater than 19% after Ken Griffin’s Fortress Securities published a 5.5% stake within the corporate value about $25 million.

    Devon Power — Stocks tumbled 12.3% after the power corporate reported fourth-quarter profits and income that got here in underneath expectancies. Devon earned $1.66 according to proportion on income of $4.3 billion. Analysts anticipated a benefit of $1.75 according to proportion on income of $4.39 billion.

    Akamai Applied sciences — The cloud inventory dropped greater than 10% after Akamai issued first-quarter income and profits steerage that was once underneath expectancies. RBC Capital Markets additionally downgraded stocks to sector carry out from outperform and slashed its worth goal to $85 from $100 according to proportion.

    Generac Holdings — Stocks rallied 8% after the power-generator maker reported fourth-quarter profits of $1.78 according to proportion, topping StreetAccount’s estimate of $1.75 according to proportion. Generac’s revenues of $1.05 billion got here in slightly under a consensus forecast of $1.07 billion.

    Barclays — The U.Ok. financial institution’s U.S.-listed inventory tumbled extra 9.3% after Barclays reported an annual internet benefit slide of nineteen%, thank you partially to a buying and selling blunder within the U.S. that led to litigation and behavior fees.

    Analog Units — The chipmaker won 6.2% after reporting adjusted profits for the fiscal first quarter of $2.75, upper than the $2.61 anticipated from analysts, according to StreetAccount. Income got here in at $3.25 billion, topping expectancies of $3.15 billion.

    Tub & Frame Works — Stocks of the store shed 3% after being downgraded to impartial from purchase by means of Citi. The Wall Boulevard company mentioned it sees vital margin headwinds proceeding into 2023 and past.

    Paramount International — Stocks won 6.5% after Berkshire Hathaway published it higher its stake within the leisure corporate. Warren Buffet’s company now owns greater than 93 million stocks of Paramount.

    Martin Marietta Fabrics — Stocks won 7% after the corporate reported fourth-quarter internet source of revenue of $183.6 million, up from $156.8 million a yr in the past. Alternatively, it overlooked Wall Boulevard’s expectancies, with adjusted profits according to proportion coming in at $3.04, as opposed to Boulevard Account’s estimate of $3.08. Services income additionally overlooked expectancies.

    American Eagle Clothing stores — The attire corporate’s inventory dipped greater than 2% after Jeffries downgraded it to carry from purchase. The Wall Boulevard company cited the traditionally low efficiency of the clothes and sneakers class over the last 8 recessions.

    Taiwan Semiconductor — The Taiwanese semiconductor maker’s inventory declined 6% after Berkshire Hathaway published it diminished its stake within the corporate by means of 86% from the former quarter to $168 million.

    — CNBC’s Michael Bloom, Alex Harring, Jesse Pound, Hakyung Kim and Pia Singh contributed reporting.

  • Shares making the largest strikes premarket: Kraft Heinz, Paramount, Airbnb, Tripadvisor and extra

    Pavlo Gonchar | LightRocket | Getty Photographs

    Take a look at the corporations making headlines earlier than the bell.

    Devon Power — Stocks fell 6.4% after the power corporate reported fourth-quarter profits and earnings that each got here in underneath the respective consensus estimates of analysts polled via Refinitiv.

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    Airbnb — The house-sharing corporate won just about 10% within the premarket after posting fourth-quarter profits that beat analysts’ expectancies. Airbnb reported profits in step with proportion of 48 cents, in comparison to the 25 cents anticipated, in step with Refinitiv. Its profits got here in at $1.90 billion, upper than the forecasted $1.86 billion.

    Generac — Stocks added greater than 2% after the ability generator maker reported fourth-quarter profits effects. Generac posted profits of $1.78 in step with proportion, higher than the $1.75 in step with proportion anticipated via analysts polled via FactSet. On the other hand, Generac reported revenues of $1.05 billion, not up to consensus expectancies of $1.07 billion.

    Analog Gadgets — Stocks have been up 6.7% in premarket buying and selling after the corporate reported better-than-expected profits for the fiscal first quarter. The chipmaker posted adjusted profits in step with proportion of $2.75, upper than the $2.61 anticipated from analysts on FactSet. Its earnings got here in at $3.25 billion, above Wall Side road’s expectancies of $3.15 billion.

    Kraft Heinz — Stocks dropped 2.2% after the meals and beverage corporate mentioned profits for this fiscal 12 months can be between $2.67 and $2.75 a proportion. That is underneath the consensus estimate of $2.77 a proportion from analysts accumulated via FactSet. The corporate on the other hand reported profits that beat analysts’ expectancies for the closing quarter.

    Paramount World — Stocks won 2.5% premarket after Berkshire Hathaway greater its stake within the streaming massive, in step with the most recent regulatory filings. Warren Buffet’s company now owns greater than 93 million stocks within the leisure corporate.

    Roblox Corp — Stocks of the net recreation platform soared 16% after the corporate reported a fourth-quarter earnings of $579 million, up 2% year-over-year. The corporate mentioned bookings have been $899.4 million, surpassing the 875.3 million bookings anticipated via analysts, in step with FactSet’s StreetAccount.

    Biogen — Stocks of the biotech corporate fell lower than 1% in pre-market buying and selling after Biogen reported its fourth quarter effects. The corporate reported $4.05 in adjusted profits in step with proportion, topping the $3.49 anticipated via analysts, in step with FactSet’s StreetAccount. On the other hand, the corporate did mission a decline in earnings for 2023, even supposing Biogen will get a positive ruling in a Eu Union case this is anticipated subsequent month.

    American Eagle Clothing stores — Stocks fell 3.4% after Jefferies downgraded the attire corporate to carry from purchase, mentioning the traditionally low efficiency of the clothes and sneakers class during the last 8 recessions.

    Tripadvisor — Stocks of the net go back and forth corporate soared via 9% after posting fourth-quarter earnings, profits and money waft that have been upper than analysts’ estimates.

    Taiwan Semiconductor Production — Stocks of the worldwide semiconductor maker dropped 5% after Warren Buffett’s Berkshire Hathaway looked as if it would make a U-turn at the Taiwanese corporate. Berkshire minimize its stake within the fourth quarter via about 86% from the 3rd quarter, an strange transfer for a an investor identified to carry stocks for the long-term. Berkshire now owns simply $618 million.

    GoDaddy — Stocks fell 2.6% after the product developer posted quarterly profits of 62 cents in step with proportion, in need of profits in step with proportion estimates of 64 cents from FactSet’s StreetAccount.

    — CNBC’s Sarah Min, Alex Harring, Jesse Pound, and Michelle Fox Theobald contributed reporting.

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