Take a look at the companies making headlines in extended trading: Airbnb – the online booking company fell 13% after second-quarter earnings missed Wall Street estimates. Airbnb reported earnings of 86 cents per share, while analysts surveyed by LSEG expected 92 cents. The company also said it is seeing signs of declining demand from its U.S. customers. Reddit – Shares fell 2% despite the company’s second-quarter results beating Wall Street estimates on the top and bottom lines. The social news company reported better-than-expected daily active user metrics. Reddit also released its third-quarter revenue outlook, calling for $290 million to $310 million, while analysts surveyed by LSEG called for $279 million. Wynn Resorts – The resort and casino operator added 2% despite disappointing second-quarter results. Wynn reported adjusted earnings of $1.12 per share on revenue of $1.73 billion, compared with an estimate from analysts surveyed by LSEG of $1.14 per share on revenue of $1.75 billion. Rivian Automotive – Electric vehicle stocks fell more than 2% after the company reaffirmed its 2024 guidance for a loss of $2.7 billion in adjusted earnings before interest, taxes, depreciation and amortization. For the second quarter, Rivian reported a smaller-than-expected adjusted loss of $1.13 per share and $1.16 billion in revenue, while analysts surveyed by LSEG forecast a loss of $1.21 per share and $1.14 billion in revenue. Super Micro Computer – Shares of the server company fell almost 7%. Super Micro’s adjusted earnings for the fiscal fourth quarter came in at $6.25 per share, while analysts expected $8.07 per share, according to LSEG. The company also announced a 10-for-1 stock split. Lumen Technologies – Shares of the telecommunications company rose more than 77%. Lumen’s second-quarter revenue of $3.27 billion exceeded Wall Street estimates. Analysts polled by LSEG expected revenue of $3.25 billion. Instacart – Grocery delivery stocks rose 7% after a second-quarter beat on the top and bottom lines. Instacart’s earnings of 20 cents per share and $823 million in revenue beat an estimate from analysts surveyed by LSEG who called for 13 cents per share and $807 million in revenue. Tripadvisor – Shares fell more than 11% after a second-quarter revenue loss. The booking company reported revenue of $497 million, while analysts surveyed by LSEG forecast $505 million. Adjusted earnings of 39 cents per share beat expectations of 37 cents.
Stocks that make the biggest moves after hours: ABNB, SMCI, TRIP, WYNN
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