Market Movers rounded up the best reactions from investors and analysts after Twilio released its earnings results after the bell on Tuesday. Experts, including Jim Cramer, discussed the software stock as it tumbled 12% on Wednesday. The company’s first-quarter report topped expectations, but Twilio also released a second-quarter revenue forecast that came in below expectations. It expected revenue of $980 million to $990 million, compared with analysts polled by Refinitiv expecting revenue of $1.05 billion. Separately, KeyBanc downgraded Twilio to Sector Weight from Overweight, adding that the company’s business outlook is slowing.