Earnings news remained the central theme of single-stock stories during Tuesday's midday action. Sea Limited (NYSE:SE) was one of the standouts, as a rare profit beat inspired a notable gain in the company's stock.
Global-e Online (NASDAQ:GLBE) also saw gains in the wake of its quarterly report. Meanwhile, earnings news sparked declines in shares of CleanSpark (NASDAQ:CLSK) and GAN Limited (NASDAQ:GAN).
Tuesday saw more than just another wave of earnings announcements. Forte Biosciences (NASDAQ:FBRX) rallied on news that it would soon release data about an experimental treatment for atopic dermatitis.
The earnings topper marked an unusual occurrence for the company -- just the second time in the past 12 quarters that it managed to outperform projections on its bottom line. On the news, SE rose 6% in midday action.
Bolstered by the financial figures, GLBE advanced more than 8% in intraday trading.
On the other side of the spectrum, CleanSpark (CLSK) suffered a sharp decline in midday trading on disappointing quarterly results. Shares plunged about 21% on the news.
The software company posted a loss for the quarter, rather than the profit projected by analysts. It also failed to meet the revenue consensus, despite year-over-year growth of almost 250%.
GAN Limited (GAN) also endured a setback in the aftermath of its quarterly update. A disappointing bottom line sent shares tumbling by 17% in intraday action.
Turning away from earnings, Forte Biosciences (FBRX) got some attention in Tuesday's midday action.
The stock climbed about 7% after revealing that it plans to release data from a mid-stage trial of its FB-401 product in atopic dermatitis. The data announcement is scheduled for September 7.