Stocks making the biggest moves after hours: Snap, Rivian, AMD, Super Micro, Arista Networks and more
Check out the companies making headlines in extended trading. Snap — The social media platform plunged 14% after missing revenue expectations for the second quarter. Snap said it recorded $1.34 billion, slightly under the consensus forecast of $1.35 billion from analysts polled by LSEG. Rivian Automotive — The electric vehicle company dropped more than 3% on the back of mixed second-quarter results. Adjusted losses for the period came in at 80 cents per share, compared to the LSEG consensus call for a loss of 65 cents per share. Revenue of $1.30 billion narrowly beat the $1.28 billion anticipated by the Street. Skyworks Solutions — The wireless network stock jumped 9% after providing earnings for the third fiscal quarter and current-quarter guidance that was better than expected. Skyworks reported adjusted earnings of $1.33 per share on $965 million in revenue for the third quarter. Analysts surveyed by LSEG had penciled in $1.22 per share and $941 million in revenue. Hinge Health — The health technology stock popped 7.8% following its first earnings report as a public company. Hinge saw $139 million in revenue for the second quarter, beating the $125 million figure estimated by analysts, according to LSEG. Lucid Group — Shares of the electric vehicle maker slid about 7% after Lucid moderated its production outlook for the remainder of the year. The company now expects to produce between 18,000 and 20,000 vehicles, compared to its earlier call for 20,000. Second-quarter top- and bottom-line results also missed expectations. BridgeBio Pharma — The pharma stock tumbled 12% after posting a wider loss per share than Wall Street expected. BridgeBio said it lost 95 cents per share in the second quarter, while analysts polled by FactSet had projected a decline of 79 cents per share. Arista Networks — The network equipment company’s stock jumped more than 13% after its second-quarter results surpassed Wall Street’s estimates. Arista reported 73 cents in adjusted earnings per share, while analysts surveyed by LSEG had penciled in 65 cents per share. The company’s revenue of $2.20 billion also beat the consensus estimate of $2.11 billion. Super Micro Computer — Shares plummeted more than 13% after the server maker’s results for the fiscal fourth quarter missed on the top and bottom lines. Super Micro posted adjusted earnings of 41 cents per share on revenue of $5.76 billion, below the 44 cents per share and $5.89 billion in revenue that analysts surveyed by LSEG were expecting. The company also sees its adjusted earnings for its first quarter coming in weaker than expected. Klaviyo — The marketing platform stock rallied nearly 11% on strong earnings and guidance. Klaviyo posted adjusted earnings of 16 cents per share on $293 million in revenue, while analysts polled by LSEG had forecast 13 cents per share and $279 million in revenue. Upstart Holdings — The artificial intelligence-powered lending marketplace sank about 9% despite a strong earnings report and outlook. Upstart posted adjusted earnings of 36 cents per share, surpassing the LSEG consensus forecast by 10 cents a share. Revenue came in at $257 million, beating the $225 million estimate. Advanced Micro Devices — The semiconductor company slid 4% after posting 48 cents in adjusted earnings per share for the second quarter, while analysts surveyed by LSEG expected 49 cents. However, AMD saw $7.69 billion in revenue, topping the estimate of $7.42 billion. Match Group — The dating platform stock jumped 9% after posting stronger-than-expected revenue for the second quarter and upbeat guidance for the current quarter. The Tinder and Hinge parent reported $864 million in revenue for the quarter, exceeding the $854 million estimate from Wall Street, per LSEG. — CNBC’s Darla Mercado and Sean Conlon contributed reporting.
