Stocks making the biggest moves midday: Roku, DraftKings, Shake Shack, Bloomin' Brands and more

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Check out the companies making headlines in midday trading.

Roku — Roku shares were down nearly 25% after the company reported revenue for the most recent quarter that fell short of analysts' forecasts. Roku also issued a weaker-than-expected outlook due to higher component prices and supply chain disruptions.

DraftKings — Sports betting company DraftKings saw shares tumble nearly 17% after it reported a narrower-than-expected quarterly loss and issued guidance projecting a wider-than-expected adjusted loss for the full year.

Bloomin' Brands — Shares of the Outback Steakhouse parent jumped more than 7% after the company reported a quarterly earnings beat and a modest revenue beat. Bloomin' also reinstated its quarterly dividend and announced a new $125 million share buyback program.

Virgin Galactic – Shares of Virgin Galactic fell more than 6% following the announcement that Chairman Chamath Palihapitiya will be stepping down from the board of directors, effective immediately. His special purpose acquisition company took Virgin Galactic public in 2019. Palihapitiya said he's leaving «to focus on other existing and upcoming public board responsibilities.»

Dollar Tree — Shares of the discount retailer jumped more than 4% and was one of the top gainers in the S&P 500, after the company announced executive chairman Bob Sasser will retire and be given the title of Chairman Emeritus.

Redfin — The real estate brokerage's shares tumbled by 25% after RBC Capital Markets downgraded the stock to sector perform from outperform, calling the bull case for the stock «broken.» Redfin on Thursday reported a smaller-than-expected loss for the fourth quarter and beat on revenue. Real estate services unit and gross margins