Stocks making the biggest moves Thursday: Cerebras, Cisco, Applied Materials & more

HawkEye 360 rallied 6% postmarket Thursday after the net third-quarter loss at the data analytics provider narrowed to $0.2 million versus analysts’ consensus estimate of a $4.5 million loss, on revenue of $59.3 million against the Street’s $56.5 million, according to FactSet data. Third-quarter adjusted EBITDA also exceeded Street estimates, as did Q4 revenue and adjusted EBITDA guidance.

— Scott Schnipper

Applied Materials dipped less than 1% after fourth-quarter adjusted earnings of $4.16 per share topped the consensus estimate on Wall Street of $4.05, while revenue of $10.41 billion surpassed analysts’ $10.30 billion forecast, according to LSEG data.

In the four trading days through Wednesday, AMAT had soared 24% going into the latest results.

— Scott Schnipper

The Brazilian fintech company advanced about 2% after third-quarter total revenue came in ahead of Wall Street’s estimates.

Nu Holdings‘ total revenue of $6.26 billion in the period surpassed the FactSet consensus estimate for $5.96 billion.

—Darla Mercado

Cerebras Systems, an artificial intelligence chipmaker, saw shares jump in extended trading as the company announced third-quarter revenue that beat expectations.

Cerebras posted revenue of $231 million, beating the $215 million anticipated by analysts, per LSEG.

The company also announced a new relationship with Microsoft. Cerebras CEO Andrew Feldman told CNBC that Microsoft signed the deal in October.

Cerebras was last up 13%.

—Darla Mercado

Networking tech giant Cisco Systems climbed in extended trading after guidance surpassed analysts’ estimates.

Shares were last up around 2%.

For the current quarter, Cisco forecast adjusted earnings of $1.34 to $1.36 per share on revenue of $18.0 billion to $18.2 billion. Analysts polled by LSEG were looking for $1.23 per share and $17.88 billion.

Non-GAAP gross margin for the period is also expected to range from 65% to 66%, versus the StreetAccount consensus estimate of 64.4%.

Fiscal first-quarter results also beat on the top and bottom lines.

—Darla Mercado

The maker of data center servers fell on Thursday after Bloomberg News reported, citing a person familiar, that the Justice Department is looking into whether Alice Huang helped smuggle Super Micro Computer’s products.

Super Micro was last down more than 9%.

Alice Huang is the woman with whom former Nvidia CEO Jensen Huang had had an affair. U.S. intelligence officials also believe her to be a Chinese spy.

—Darla Mercado

Austin, Texas-based Yeti Holdings sank 8%, extending a three-day decline, after third-quarter adjusted revenue of $517.9 million missed Wall Street analyst estimates of $523 million and the cooler and travel mug maker lowered full-year forecasts for earnings per share excluding one-time items, adjusted revenue and adjusted operating income.

Yeti has now tumbled 14% in three days and more than 22% in the past three months.

— Scott Schnipper

The New Jersey-based neocloud provider sank almost 8%, one day after soaring 25% in the wake of better-than-expected third-quarter results.

Fellow neocloud Nebius Group slumped almost 18% after trimming its full-year revenue guidance.

CoreWeave has been almost cut in half over the past three months.

Shares of Take-Two Interactive fell 2% Thursday after Bank of America said Grand Theft Auto VI would need to generate $1.9 billion in sales in its first weekend after launch to “satisfy expectations.” 

In the past, GTA 5 had surpassed $1 billion in sales (gross of platform/channel fees) within its first three days.

“Although we’ve maintained that GTA online monetization underpins our bullish view on the stock, investors on both sides of the debate will handicap the franchise’s success based on sales figures released shortly after launch,” the bank said.

— Deena Zaidi

The company behind Canada Dry and Snapple slid almost 5% after announcing a proposed $2 billion common stock offering.

Keurig Dr Pepper said it plans to use the net proceeds to reduce its debt before the company splits into two publicly traded entities in early 2027: Beverage Co and Global Coffee Co.

—Darla Mercado

The AI cloud company’s net loss narrowed to $37.5 million, or 13 cents per share, from $119.6 million, or 50 cents per share, a year earlier. Revenue surged 571% to $980.8 million, topping the $907.5 million expected by analysts surveyed by LSEG. 

Nebius is calling for 2026 capex to come in at $27 billion, higher than its earlier forecast for $20 billion to $25 billion. The company also sees 2026 revenue at the low end of its $3 billion to $3.4 billion range, while the FactSet consensus estimate was $3.35 billion.

The results follow better-than-expected reports from fellow AI cloud providers CoreWeave and IREN over the past week. Nebius faces political uncertainty after voters backed restrictions on data center development last week.

Nvidia CEO Jensen Huang‘s departure from the chip giant also adds to the volatility since Nvidia held about $329 million in Nebius shares at the end of June, according to a filing.

— Deena Zaidi 

Elon Musk’s rocket-building company saw shares rise 2% after announcing the construction of a $50 billion supercompute campus in Cochise County, Arizona.

SpaceX also announced it will invest more than $24 billion in new supercomputing infrastructure at its Starbase in Rio Grande Valley, Texas.

Further, CLSA lifted its target price to $300, calling for nearly 115% upside from Wednesday’s close. “The hysteria surrounding  the US midterms elections and outcomes has largely subsided … for now,” wrote analyst Max Hopkins.

“We reason these newly elected officials will all soften their stances on both datacentres and Musk (this has already begun) once the reality of the American macro-economic situation is taken into consideration,” the analyst added.

—Darla Mercado

Shares of the optical retail company were little changed even after National Vision lowered the top end of its full-year earnings guidance, as well as its entire revenue guide.

The company anticipates earnings in a range of 95 cents to $1.03 per share for the full year ending December, compared to previous guidance of 94 cents to $1.09 per share. It forecasts revenue of $2.019 billion to $2.038 billion, while its prior outlook was for $2.037 billion to $2.076 billion.

The chip stock popped 2.8% after William Blair upgraded Advanced Micro Devices to outperform from market perform. The firm said AMD’s Instinct product line, which are dedicated graphics processing units (GPUs) and accelerators for artificial intelligence, are poised to take market share as its competitors Intel and Nvidia flounder.

“We see a runway for shares to work from here, with Instinct share gains offering additional upside as AMD stays focused on execution while its largest competitor, Nvidia, contends with a growing leadership and regulatory imbroglio,” Sebastien Naji wrote in a Thursday note.

Intel is struggling with delays and supply shortages for its next-generation Xeon processor. At Nvidia, the potential departure of CEO Jensen Huang who’s embroiled in extramarital scandal could benefit AMD over a multi-year period.

Shares for Tetra Tech jumped nearly 10% after the provider of consulting and engineering services reported better-than-expected fiscal fourth-quarter earnings.

The company earned an adjusted 49 cents per share, topping a FactSet estimate of 47 cents. Net revenue of $1.15 billion matched expectations.

For the first fiscal year of 2027, Tetra Tech expects to report earnings per share between 36 and 38 cents.

— Ananya Chetia

Shares of the agricultural chemical and seed company slid more than 9% after Corteva posted a revenue miss. The company posted third quarter revenue of $1.59 billion, disappointing the $1.77 billion analysts polled by FactSet were anticipating.

Nvidia shares dropped more than 7% after The New York Times reported CEO Jensen Huang had another affair with the company’s vice president of health. According to the Times, Kimberly Powell reports to Huang.

On top of that the company’s board met Wednesday to discuss Huang’s fate.