Let’s check out the companies that are becoming a hot topic for after-hours trading. Alphabet — Shares of search engine giant Alphabet rose 1% after Anthropic and Google formally announced a cloud partnership on Thursday. The deal is worth tens of billions of dollars and gives Anthropic access to up to one million of Google’s custom-designed Tensor Processing Units (TPUs). Ford Motor Co. — Shares of the Detroit automaker rose 4% in after-hours trading. Ford Motor Co.’s third-quarter results beat Wall Street expectations, but the company lowered its full-year outlook due to the fire at its aluminum supplier. Ford reported adjusted earnings of 45 cents a share on sales of $47.19 billion, compared with analyst estimates compiled by LSEG of earnings of 36 cents a share on sales of $43.08 billion. Target — The discount retailer’s stock rose less than 1% after announcing it would cut its workforce by 8%. The move will affect approximately 1,800 jobs, marking the company’s first major layoffs in a decade. Intel — Intel shares rose about 7% after the semiconductor maker reported third-quarter sales that beat analysts’ expectations, spurring optimism that demand for the company’s core x86 processors for PCs has recovered. Intel, whose largest shareholder is the U.S. government after the Trump administration acquired a 10% stake in August, reported adjusted earnings per share of 23 cents. LSEG said revenue was $13.65 billion, beating analysts’ expectations of $13.14 billion. NEWMONT — The gold mining company’s stock fell 2% despite reporting better-than-expected third-quarter results. Newmont’s earnings, excluding items, were $1.71 per share, beating FactSet’s estimate of $1.44 per share. Sales of $5.52 billion exceeded analysts’ expectations of $5.19 billion. Deckers Outdoor — The owner of the Hoka and Ugg shoe brands saw its stock drop about 12% after its earnings forecast came in below expectations. Deckers expects full-year sales of about $5.35 billion, compared with the $5.45 billion expected by analysts surveyed by LSEG. The footwear giant’s profit was $1.43 billion, or $1.82 per share, beating analysts’ estimates by LSEG of $1.58 per share and revenue of $1.42 billion. Boyd Gaming — The gaming entertainment giant fell nearly 2% despite reporting better-than-expected third-quarter results. Mr. Boyd had earnings of $1.72 a share (excluding items) on revenue of $1.0 billion, compared to FactSet analysts’ expectations for earnings of $1.62 a share and revenue of $875.1 million. Boyd experienced “healthy gaming revenue growth across all three real estate business segments” during the period, management said. Applied Materials — Shares of the semiconductor equipment maker fell more than 1% after the company announced it would cut about 4% of its workforce at a cost of about $160 million to $180 million. “Automation, digitalization and geographic mobility are redefining needs,” the company said. The company said the bulk of the charges will be recorded in the fourth quarter. —CNBC’s Christina Cheddar Berk contributed reporting.
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