AMD, Supermicro, and Novo Nordisk stocks fall, Pinterest tanks while Lemonade gets a boost

Lemonade (LMND) stock climbed 10% in premarket trading on Wednesday after shedding over 4% the day before. The insurance company reported a smaller loss than analysts were expecting and raised its revenue guidance for the year.

In the third quarter, Lemonade recorded a loss per share of $0.55, compared to Wall Street’s expectations for a loss per share of $0.71. Revenue also beat expectations, coming in at $194.5 million vs. $185 million estimated.

For the full year, Lemonade upped its revenue outlook to a range of $727 million to $732 million. Previously, the company guided for revenue of $710 million to $716 million. The midpoint of consensus estimates had guided for 2025 revenue at $714 million.

Reuters reports:

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McDonald’s (MCD) stock drifted lower in premarket trading after the fast food chain showed signs it’s making progress in winning back customers.

Yahoo Finance’s Brooke DiPalma reports:

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Toast (TOST) shares gained 6% in extended trading after the cloud-based restaurant platform substantially raised its full-year adjusted EBITDA guidance.

Toast now sees adjusted EBITDA in the range of $610 million to $620 million, up from the $565 million to $585 million range previously forecast.

In the third quarter, Toast missed profit estimates, reporting earnings per share of $0.16, which was below consensus estimates of $0.23 per share.

Its annualized recurring run-rate (“ARR”), a key operational measure for subscription revenue, grew 30%, crossing $2 billion. Toast also added about 7,500 net new locations in Q3.

Listen to a livestrea Toast’s earnings call here.

Yahoo Finance’s Dan Howley reports:

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Pinterest (PINS) stock was hammered in after-hours trading after the social media service issued a weaker-than-expected fourth quarter revenue forecast and missed earnings expectations.

The stock fell 16% in the immediate aftermath of the report. Year to date, shares are up 13%.

Pinterest expects quarterly revenue between $1.31 billion and $1.34 billion, while the average analyst estimate was for $1.34 billion, according to data compiled by LSEG. Competition for ad revenue during the holiday shopping season has intensified as players like Meta (META) and Alphabet (GOOG) vie for marketing dollars.

The company reported adjusted earnings per share of $0.38, below Wall Street’s estimates for $0.42 per share, according to S&P Global Market Intelligence. Revenue was in line with estimates. The company reported $1.05 billion for the third quarter, an increase of 17% year over year.

Global monthly active users increased 12% annually to a record 600 million.

Read more here from Reuters.

Rivian (RIVN) stock rose modestly in the initial reaction to its third quarter report as the EV maker reported a smaller loss than expected and said its upcoming R2 midsize crossover is on track for release in the first half of 2026.

Yahoo Finance’s Pras Subramanian reports:

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Corporate earnings are even more important in the absence of key data amid the government shutdown — and that’s something to keep in mind as results from chipmaker AMD (AMD) and Supermicro (SMCI) are due out after the bell.

Yahoo Finance’s Hamza Shaban writes:

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Apollo Global Management (APO) CEO Marc Rowan told investors on the company’s earnings call Tuesday that he doesn’t see systemic risk building in the private credit market. (Disclosure: Yahoo Finance is owned by Apollo Global Management.)

“I don’t think we’re talking about systemic risk. I think we’re talking about late-cycle behavior, and bad actors, I believe, are going to get called out,” Rowan said.

Rowan’s comments follow the bankruptcies of auto parts supplier First Brands and subprime auto lender Tricolor Holdings, which led to a warning by JPMorgan CEO Jamie Dimon that spooked the market.

“When you see one cockroach, there’s probably more,” Dimon said on Oct. 14. “Everyone should be forewarned on this one.”

Like Rowan, Federal Reserve Chair Jerome Powell also downplayed the risks to private credit markets last week, saying he doesn’t see a “broader credit issue.”

Apollo’s earnings per share of $2.17 beat analyst estimates for the third quarter. The firm’s total assets under management surged to $908 billion, as of Sept. 30, putting the asset manager closer to the $1 trillion AUM milestone.

Shares of car rental company Hertz (HTZ) soared on Tuesday, rising 42% in late morning trading after the company reported a profitable third quarter.

Hertz posted earnings per share of $0.42, above Wall Street analyst expectations for profits of just $0.03. In the same quarter a year ago, Hertz logged a loss per share of $4.34. Revenue hit $2.5 billion, above estimates of $2.4 billion, according to S&P Global Market Intelligence.

The company completed a fleet refresh, swapping in new cars for its older models. With the younger fleet, Hertz had a utilization rate of 84%, its highest in seven years.

For Q4, Hertz expects a slightly negative EBITDA margin range of negative low to mid-single digits.

“We are cautiously optimistic for a stable setup for next year,” Hertz CFO Scott Haralson said in the company’s earnings call.

In recent years, the beer industry has faced a gradual sales slowdown as consumer preferences change. But Molson Coors’ (TAP) new CEO Rahul Goyal said there’s “added pressure” this year.

“This year, I would say that’s [there’s] been definitely added pressure,” Goyal told investors on the company’s earnings call. “And you see that across staples, and beer hasn’t been immune to that.”

Goyal cited the impact of tariffs on consumer sentiment and the immigration crackdown focused on the Hispanic community as factors affecting beer sales this year. In September, Constellation Brands (STZ) CEO Bill Newlands issued a similar warning.

“So there’s something different this year,” Molson Coors’ Goyal said. “Right now, there’s the structural issues that we’ve all talked about in the industry, whether it’s health and wellness, whether it’s the generational change. But this year, there’s been a lot of other macro issues, whether it’s the economic impacts, tariffs, immigration.”

Molson Coors stock rose over 1% on Tuesday despite missing earnings estimates. The company reported earnings per share of $1.67, below the consensus estimate for $1.70 per share. In the same period last year, Molson Coors recorded earnings per share of $1.80.

While the beer maker left its full-year sales guidance untouched, it expects net sales to come in at the low end of the range, which projects sales to decline 3% to 4%. It’s currently undergoing a corporate restructuring, which includes cuts to 9% of its US workforce.

Marriott (MAR) beat third quarter estimates on the top and bottom lines on Tuesday, but the stock bounced around the flat line after a key metric — revenue per available room, or RevPAR — only increased modestly.

Overall revenue of $6.48 billion topped estimates of $6.45 billion, according to S&P Global Market Intelligence, while earnings per share of $2.67 surpassed the $2.39 expected.

RevPAR increased 0.5%, reflecting a 2.6% increase internationally and a 0.4% decline in the US and Canada. Luxury continued to outperform in this bifurcated economy, with luxury RevPAR climbing 4%.

Listen to the earnings call here.

Reuters reports:

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Canadian e-commerce company Shopify (SHOP) issued an upbeat forecast for the holiday shopping season, saying it expects revenue to grow by a “mid-to-high-twenties percentage rate” in the fourth quarter compared to a year ago.

But the stock fell 5% in premarket trading as profit declined year over year in the third quarter.

The Canadian Press reports:

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