Stocks ended lower Wednesday after recent consumer price data revealed that prices had risen to their highest level in three decades.
Here are some of the big movers in the stock market on Wednesday:
1. DoorDash | Increase 11%
DoorDash (DASH) - Get Free Report shares spiked after the food-delivery company said it would take over European rival Wolt in an all-stock deal valued at more than $8 billion and reported quarterly results that topped Wall Street’s estimates. The takeover will help DoorDash enter 22 new markets, including Germany, Denmark and Sweden.
2. RingCentral | Increase 21%
Shares of RingCentral (RNG) - Get Free Report soared as the provider of enterprise cloud-based communications and collaboration services for businesses reported third-quarter sales and adjusted earnings that exceeded analysts' expectations. Revenue totaled $414.6 million, up 37% from a year ago.
3. Avid Technology | Increase 18%
Avid Technology (AVID) - Get Free Report shares surged after the electronic gaming and multimedia company beat Wall Street's third-quarter earnings expectations. Revenue increased 12% year-over-year in the third quarter to $101.6 million. Subscription revenue was $28 million, an increase of 56% year-over-year.
4. Fiverr International | Increase 9.6%
Shares of Fiverr International (FVRR) - Get Free Report climbed after the gig-work platform beat Wall Street's third-quarter earnings expectations. Revenue increased 42% over a year ago to $74.3 million. Spend per buyer reached $234, up 20% from a year ago. Active buyers grew to 4.1 million, an increase of 33% year over year.
5. Krispy Kreme | Increase 3%
Krispy Kreme (DNUT) - Get Free Report rose after the doughnut chain reported better-than-expected projections. The company said it saw solid fiscal third-quarter sales and added demand would continue to rise into the holiday quarter. Revenue rose 18% to $342.8 million.