Check out the companies making headlines in midday trading.
Coinbase reported a 27% decline in revenues in the first quarter as usage of the platform dipped.
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Coinbase – Shares of the crypto services operator jumped about 7.4% despite the company reporting a wider-than-expected loss late Tuesday and a decline in volumes in the most recent quarter. The rally coincided with a move higher in bitcoin after a key inflation reading showed a better-than-expected slowdown in rising prices.
Wendy’s – The restaurant chain saw its shares fall nearly 2% after reporting a revenue miss. U.S. same-restaurant sales rose 2.3% — less than analysts had estimated — as consumers spent more cautiously. Wendy’s earnings in the latest quarter topped estimates, however.