Check out the companies making headlines after hours. AMD — The semiconductor stock dropped 1% after Amazon said in a securities filing that it dissolved its stake in AMD in the third quarter. Otherwise, the company reported third-quarter earnings that topped expectations, with adjusted earnings of $1.20 per share on revenue of $9.25 billion. Analysts surveyed by LSEG had expected per-share earnings of $1.16 on revenue of $8.74 billion. Pinterest — The image sharing platform plunged 18% after Pinterest reported disappointing third-quarter results, with adjusted earnings of 38 cents per share on revenue of $1.05 billion. Analysts polled by LSEG had expected per-share earnings of 42 cents on revenue of $1.05 billion. Super Micro Computer — The AI stock tumbled 10% after Super Micro missed expectations for its first quarter and offered a disappointing earnings forecast. The server and computer infrastructure company reported adjusted earnings of 35 cents on revenue of $5.02 billion. Analysts polled by LSEG had expected per-share earnings of 40 cents on revenue of $6.0 billion. For the second quarter, the company expects to earn between 46 cents and 54 cents per share, on an adjusted basis. That’s shy of the consensus estimate of 61 cents per share. Hinge Health — Shares of the company offering virtual physical therapy services dropped 5% even after posting third-quarter revenue of $154 million, which topped the $142 million consensus estimate from LSEG. Amgen — The biotech stock rose less than 1% after Amgen reported third-quarter earnings of $5.64 per share, on an adjusted basis, on revenue of $9.56 billion. That topped the estimate of $5.01 per share in earnings on revenue of $8.97 billion expected by analysts polled by LSEG. Rivian Automotive — Shares of the electric vehicle maker rose 4% after it reported better-than-expected third-quarter results. Rivian posted an adjusted loss of 65 cents per share on revenue of $1.56 billion. According to LSEG, analysts had anticipated a loss of 72 cents per share on $1.5 billion. Toast — Shares of the restaurant technology platform rose more than 7% after it said it earned 16 cents in the third quarter on revenue of $1.63 billion. The company now expects adjusted EBITDA to be in the range of $610 million to $620 million, up from a prior forecast of $565 million to $585 million. Astera Labs — The maker of semiconductor-based connectivity solutions for cloud and AI infrastructure fell more than 9% despite reporting a third quarter that was better than expected. Astera Labs earned 49 cents per share, excluding items, exceeding the FactSet consensus estimate of 39 cents per share. Revenue of $230.6 million topped the anticipated $206.5 million. Cava Group — Shares of the Mediterranean restaurant chain fell more than 6% after it missed revenue estimates for the third quarter and cut its annual same-store sale forecast for the second time this year. The company said it expects full year sales at stores open at least a year to rise between 3% to 4%, down from its prior estimate of 4% to 6% growth. Arista Networks — Shares plunged 10% after Arista Networks issued lackluster current quarter guidance, even as third-quarter results came in above expectations. The network equipment maker forecasts fourth quarter revenue of $2.3 billion to $2.4 billion, with the lower end missing the $2.33 billion estimate, according to LSEG. Live Nation — Entertainment Shares pulled back more than 5% after the entertainment company’s third-quarter revenue missed analyst expectations, posting $8.50 billion compared to the $8.61 billion that analysts polled by StreetAccount had estimated. The company’s adjusted operating income also came in line with expectations at $1.03 billion. Axon Enterprise — The manufacturing stock plummeted about 21% following its weaker-than-expected third-quarter earnings. The company posted adjusted earnings of $1.17 per share, below the $1.52 per share that analysts polled by FactSet were anticipating. Revenue for the period came in better than expected, however, at $711 million versus the consensus estimate of $704.8 million. — CNBC’s Christina Cheddar Berk and Sean Conlon contributed to this report.
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Our finance blog is your go-to resource for expert financial advice, covering everything from personal budgeting and saving strategies to smart investing and market analysis. Stay updated with the latest trends, tips, and insights to help you make informed decisions and achieve financial success.
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