Check out the companies making headlines before the bell. Advanced Micro Devices — The chip maker fell 5% after reporting adjusted profit guidance for the current quarter, which was in line with expectations. However, Advanced Micro Devices beat expectations for both third-quarter earnings and sales. McDonald’s — Shares fell 1% after the fast-food chain posted third-quarter adjusted earnings of $3.22 a share, missing the $3.33 expected by analysts surveyed by LSEG. The company’s revenue of $7.08 billion also fell short of the consensus estimate of $7.1 billion. Arista Networks — The cloud networking company plunged 11% after it said it expected fourth-quarter revenue to be in the range of $2.3 billion to $2.4 billion. That range includes the $2.33 billion expected by analysts surveyed by FactSet. Arista posted third-quarter beats on both the top and bottom lines. Cava — The fast-casual restaurant fell 8% after lowering its full-year outlook for same-store sales to a growth rate of 3% to 4%, down from its previous outlook of 4% to 6%. The company also lowered restaurant-level profit margins from 24.8% to 25.2% to a range of 24.4% to 24.8%. Teradata — Shares rose 14% after the cloud data company posted third-quarter adjusted earnings of 72 cents per share and revenue of $416 million. That beat FactSet’s profit and revenue estimates of 54 cents and $406.3 million, respectively. The company’s full-year earnings are also higher. Lumentum — The communications stock soared 17% after the company reported fiscal first-quarter earnings and revenue that beat Wall Street expectations. Lumentum also announced second-quarter profit and revenue guidance that beat analysts’ expectations, according to FactSet. Zeta Global — Marketing stock soared 12% after third-quarter adjusted EBITDA and revenue beats. The company also shared forward-looking adjusted EBITDA and revenue guidance for the current quarter, fiscal 2025, and fiscal 2026, which exceeded FactSet’s expectations. Pinterest — The social media company fell more than 17% after revenue fell short of expectations. Pinterest posted a profit of 38 cents per share, excluding certain products, compared to analysts polled by LSEG who had expected earnings of 42 cents per share. Supermicrocomputer — Shares fell 8% after the company reported lower-than-expected fiscal first-quarter results. The company had revenue of $5.02 billion and adjusted earnings per share of 35 cents. Analysts polled by LSEG had expected earnings of 40 cents per share on sales of $6 billion. Kennedy Wilson — The property management company rose 24% after receiving a takeover offer from Chairman and CEO William McMorrow and Fairfax Financial for $10.25 per share in cash. This represents a 37.2% premium over Tuesday’s closing price. Upstart Holdings — Shares fell more than 13% after the company’s third-quarter revenue of $277.1 million fell short of expectations. However, profit for the quarter exceeded expectations. Additionally, the company lowered its full-year earnings forecast. Fourth-quarter sales and adjusted EBITDA expectations were also lower. Trex — Shares fell 34% after the maker of decking and railing products cut its full-year sales outlook due to weak demand. Torex expects full-year net sales to be in the range of $1.15 billion to $1.16 billion, flat with 2024 reported sales versus prior guidance of 5% to 7% growth. Analysts polled by FactSet expected growth of 6.7%. The company’s third-quarter adjusted profit and sales were also disappointing. Kratos Defense & Security Solutions — The aerospace and defense stock fell 10% after fourth-quarter adjusted EBITDA and revenue guidance fell short of analysts’ expectations, according to FactSet. Kratos also expects first-quarter sales to be in a range below consensus. However, the company posted higher profits and sales in the third quarter. Axon Enterprise — The Taser gun maker plunged 18% after a major earnings miss. Axon’s third-quarter earnings were $1.17 per share, excluding certain items. Analysts polled by LSEG had expected earnings of $1.52 per share. Fourth quarter adjusted EBITDA outlook. Veracyte — Shares rose 13% after the diagnostics company reported third-quarter adjusted earnings of 51 cents, beating the 32 cents expected by analysts surveyed by FactSet. Revenue of $131.9 million also beat the consensus estimate of $125 million. Veracyte also raised its full-year earnings forecast. Biotechne — The life sciences stock fell 9% after the company reported first-quarter sales of $286.6 million. That fell short of the $291.3 million expected by analysts surveyed by FactSet. Bio-Techne’s adjusted earnings for the fiscal first quarter were 42 cents, in line with expectations. Zimmer Biomet — The medical device maker fell 8% after posting $2 billion in third-quarter sales, falling short of the $2.01 billion that analysts had expected, according to FactSet. Zimmer Biomet’s adjusted third-quarter earnings were $1.90 per share, beating expectations of $1.87. Humana — Shares of the health insurance company fell nearly 5% after the company reported a decline in third-quarter profits and lowered its full-year profit outlook. Rising medical costs have put pressure on profit margins in the company’s core Medicare Advantage business. —CNBC’s Sean Conlon, Michelle Fox, Fred Imbert, Yun Li and Elizabeth Napolitano contributed reporting.
Stocks making the biggest moves pre-market: AMD, CAVA, PINS, SMCI
