Let’s check out the companies that are becoming a hot topic for after-hours trading. Spotify Technology – The music streaming service’s share rose by about 8%. Total monthly active users totaled 640 million in the third quarter, reflecting an 11% year-over-year increase and exceeding the FactSet consensus estimate of 639 million. Still, Spotify missed Street expectations on revenue and bottom line profits for the period. Skyworks Solutions — The semiconductor company fell nearly 2% after beating earnings in its fiscal fourth quarter. Skyworks’ adjusted earnings were $1.55 per share, compared with analyst estimates compiled by LSEG of $1.52 per share. Sales were $1.02 billion, in line with expectations. Meanwhile, the company’s outlook for the first quarter was lighter than expected. Cava — The fast-casual chain soared 14% after reporting third-quarter sales and bottom-line growth. Cava announced revenue of $244 million and earnings of 15 cents per share. Meanwhile, analysts had expected earnings of 11 cents per share and revenue of $234 million, according to LSEG. Occidental Petroleum — Third-quarter results were mixed, and the oil company’s stock rose 0.9%. Occidental Petroleum reported adjusted earnings per share of $1, beating consensus estimates by 26 cents, according to LSEG. However, sales were $7.15 billion, lower than analysts’ expectations of $7.23 billion. Maplebear — Shares fell 3% even though the grocery delivery company reported third-quarter results that beat analysts’ expectations. Maplebear, also known as Instacart, earned 42 cents per share on revenue of $852 million. Analysts surveyed by LSEG had expected revenue of $844 million and earnings of 22 cents per share. Rivian Automotive — The electric car maker rose 5% after announcing a joint venture with Volkswagen Group. The deal, valued at $5.8 billion, combines Volkswagen models with Rivian’s software and electrical architecture. Rocket Lab – The launch services provider’s stock price soared more than 22%. According to LSEG, Rocket Lab expected fourth-quarter revenue of $125 million to $135 million, beating TheStreet’s estimate of $122 million. The company’s third-quarter results also exceeded expectations, and Rocket Lab’s loss for the period was lower than expected. Flutter Entertainment – This gambling company increased by nearly 5%. Flutter reported third-quarter adjusted earnings of 43 cents per share on revenue of $3.25 billion. This beat Street expectations for earnings of 10 cents a share and revenue of $3.07 billion. — CNBC’s Fred Imbert and Darla Mercado contributed reporting
SPOT, CAVA, RIVN etc.
