Top gainers and losers as of 10:30AM ET.
Gainers
Twilio Inc. stock jumped more than 18% after better-than-expected fourth quarter results. The company guided first quarter results above consensus. CFO Lee Kirkpatrick will leave his post after six years and the company will find his replacement before the end of the year.
Shares of Universal Display Corp. gained more than 9% after signing a long-term OLED material supply and license agreement with Samsung Display Co. This affirmed that Universal Display will continue to supply its proprietary UniversalPHOLED phosphorescent OLED materials and technology to Samsung Display for use in its OLED displays.
Chipotle Mexican Grill Inc. stock increased more than 14% after nabbing Taco Bell Chief Brian Niccol as its new CEO, effective March 5, 2018. Niccol will succeed Founder Steve Ells, who will become Executive Chairman.
Interpublic Group of Companies Inc. shares rose more than 10% after TheStreet upgraded the stock to a B- rating from C+ rating.
Alkermes Plc stock advanced more than 8% after better-than-expected fourth quarter results. For the fiscal 2018, the company guided revenue in line with street consensus.
Losers
Groupon Inc. shares plunged more than 9% after lower-than-expected fourth quarter earnings.
Kemper Corp. stock tumbled more than 9% after it agreed to buy Infinity Property and Casualty Corp. in a cash-and-stock deal worth about $1.4 billion. Infinity shareholders will receive $51.60 in cash and 1.2019 Kemper common shares for each share of Infinity common stock. The deal is expected to close in the third quarter.
Chipotle Mexican Grill Inc. stock increased more than 14% after nabbing Taco Bell Chief Brian Niccol as its new CEO, effective March 5, 2018.
Avis Budget Group Inc. shares fell more than 5% after it extended the term of its $1.8 billion senior credit facility for an additional two years to 2023. Also, the company extended the maturity of its $1.1 billion term loan for an additional three years to 2025, with no change in interest rate charged.
Shares of Tanger Factory Outlet Centers Inc. declined more than 5% despite better than expected fourth quarter earnings. Occupancy rate increased to 97.3% from 96.9% at the end of third quarter.
Lithia Motors Inc. stock slipped more than 6% despite better-than-expected fourth quarter earnings.