Recent Articles from StockStory

Shares of used automotive vehicle retailer Carmax (NYSE:KMX) jumped 2.8% in the afternoon session as the stock attempted a slight recovery after a major sell-off prompted by the sudden termination of its CEO and a dire preliminary financial report. The steep drop in the stock's price followed the company's announcement that CEO Bill Nash had been fired. CarMax also issued a disappointing preliminary outlook for its third quarter, forecasting a decrease in comparable store sales of 8% to 12%. In addition, the company projected earnings per share in a range of only $0.18 to $0.36, which was significantly below analysts' expectations of $0.69. Compounding the company's troubles, Morgan Stanley downgraded the stock from "Overweight" to "Equal-weight" and slashed its price target, pointing to execution problems and uncertainty around new leadership.

Shares of pharmaceutical company Organon (NYSE:OGN) fell 2.9% in the afternoon session after the company lowered its full-year sales guidance and analysts subsequently cut their price targets on the stock. This outlook overshadowed a third-quarter report where both earnings and revenue topped estimates. Following the earnings release, Organon provided a sales forecast that fell below analysts' expectations, prompting a reassessment of the company's value. JPMorgan reduced its price target to $12 from $14, citing headwinds for the company's Nexplanon and respiratory products. In a similar move, Morgan Stanley lowered its price target to $9 from $10, while maintaining its "Equal-Weight" rating on the shares.

Shares of vacation ownership company Marriott Vacations (NYSE:VAC) fell 7.3% in the afternoon session after an analyst at Mizuho downgraded the company's stock. The rating was moved from "Outperform" to "Neutral," and the price target was significantly cut by over 31% from $85.00 to $58.00. This analyst action appeared to reverse the positive sentiment from the previous day, when the stock jumped after the company announced the immediate departure of its CEO, John Geller. Matthew E. Avril was appointed as the interim chief executive. The downgrade from Mizuho followed other recent price target reductions from firms including Citizens and Barclays, signaling growing concerns among analysts about the company's outlook.

Shares of fuel cell technology Plug Power (NASDAQ:PLUG) fell 5.1% in the afternoon session after investors looked past its in-line third-quarter revenue and earnings beat to focus on the company's underlying profitability challenges. For the quarter, Plug Power reported revenue of $177.1 million, which was in line with analyst expectations, and an adjusted loss per share of $0.12, which was narrower than the anticipated $0.13 loss. However, the positive headline figures were overshadowed by deepening operational losses. The company's operating margin worsened significantly, indicating that expenses outpaced sales growth. Furthermore, Plug Power's gross margin remained deeply negative, and while its cash burn improved year-over-year, it still used $127.3 million in cash during the quarter, highlighting ongoing concerns about its path to sustainable profitability.

Shares of leading designer of graphics chips Nvidia (NASDAQ:NVDA) fell 3.1% in the afternoon session after Japanese tech investment giant SoftBank announced it had sold its entire stake in the artificial intelligence company. In an earnings statement, SoftBank confirmed it had offloaded its shares for $5.83 billion. While the company stated the sale was part of a push for "asset monetization," the move was seen by some as a sign that SoftBank believed the best of Nvidia's stock gains were in the past. Because Nvidia is one of the largest companies on Wall Street, the sale was a heavy weight on the market. The news also added to broader concerns about high valuations in the technology sector, particularly around artificial intelligence stocks that had seen exceptional performance.

Shares of entertainment venue operator Lucky Strike (NYSE:LUCK) jumped 2.8% in the afternoon session after the stock's positive momentum continued as the company reported third-quarter financial results that surpassed analyst expectations. The entertainment company announced revenue of $292.3 million and earnings per share of -$0.12, both of which were better than what Wall Street had predicted. Adjusted EBITDA, a measure of profitability, also came in ahead of estimates at $72.65 million. Adding to the positive news, Lucky Strike confirmed its revenue guidance for the full year would remain at the midpoint of $1.29 billion, signaling stability. The strong quarter followed a recent show of confidence from within the company, as a director purchased 1,600 shares just days before the earnings release.

Shares of genomics company Pacific Biosciences of California (NASDAQ:PACB) jumped 2.8% in the afternoon session after an analyst at Stephens & Co. raised the price target on the stock while maintaining a positive rating. Analyst Mason Carrico boosted the price target for Pacific Biosciences to $2.00 from $1.80, which marked an increase of over 11%. The firm also kept its 'Overweight' rating on the shares. This action signaled continued confidence from the analyst that the stock could perform well relative to others in its sector. The update provided a positive signal for investors, suggesting a more optimistic outlook on the company's valuation.

Shares of healthcare apparel company Figs (NYSE:FIGS) jumped 6.2% in the afternoon session after Barclays raised its price target for the company, and other analysts made similar positive adjustments. The bank lifted its price view to $9.00 from $7.00, though it kept its Equal-Weight rating on the shares. This move followed other firms that also grew more optimistic about the stock's potential. For instance, BTIG increased its price target to $10.00 from $9.00, and Telsey Advisory Group raised its target to $9.00. Adding to the positive backdrop, a report on the broader medical clothing market projected substantial growth, with the market expected to expand from $98.6 billion in 2024 to $173.2 billion by 2034.

Shares of materials and photonics company Coherent (NYSE:COHR) fell 4.9% in the afternoon session after an executive sold a large block of shares. Executive Vice President Giovanni Barbarossa sold 60,706 shares of common stock for a total of $9.7 million. The shares were sold at a price of $160.00 each. While large insider sales can sometimes cause concern among investors about a company's outlook, the transaction was carried out under a pre-arranged trading plan that was put in place in December of the previous year. Following the sale, the executive still held 163,158 shares in the company.

Shares of neighborhood social network Nextdoor (NYSE:KIND) fell 4.5% in the afternoon session after a Citigroup analyst lowered the price target on the stock, citing potential near-term challenges. Analyst Jamesmichael Sherman-Lewis adjusted the price target down to $2.20 from $2.40, an 8.33% decrease. Despite the lower target, the firm kept its "Neutral" rating on Nextdoor's shares. This action suggested that while the bank's view on the company's performance remained steady, it saw less upside in the stock's price in the near future. The move came at a time when the general investor mood appeared fragile, with concerns that some stock valuations may have run too far.

Shares of electricity storage and software provider Fluence (NASDAQ:FLNC) fell 9.7% in the afternoon session after BNP Paribas Exane downgraded the stock to 'Underperform', which appeared to overshadow recent positive news and reflect broader investor caution. The drop came even as the company partnered with LEAG Clean Power to build Europe's largest battery energy storage system. However, the downgrade reflected investor concern, which was also highlighted by high short interest in the company's shares. This cautious outlook was echoed by a broader analyst consensus, with many holding a 'Hold' rating on the stock due to persistent profitability challenges. Ultimately, the negative analyst action seemed to outweigh the positive project announcement for investors.

Shares of burger restaurant chain Red Robin (NASDAQ:RRGB) fell 7.9% in the afternoon session after it gave back a portion of the prior session's rally as investors looked past the company's better-than-expected third-quarter results and refocused on its long-term challenges. The burger chain had initially surged nearly 14% after reporting revenue of $265.1 million and an adjusted loss per share of $0.70, both of which beat Wall Street estimates. However, the subsequent decline suggests a more sober assessment of the company's health. The report still highlighted a 3.5% year-over-year revenue decline and a 1.2% drop in same-store sales.

Shares of video communications platform Zoom (NASDAQ:ZM) rose in the afternoon session after an analyst at Rosenblatt increased the company's price target to $115 from $110 while keeping a Buy rating on the shares. The firm cited “highly bullish” channel checks and raised its revenue estimates for fiscal years 2026 and 2027 ahead of Zoom's next earnings report. The positive outlook was also tied to what the analyst called the company's “180-degree” pivot to a partner-first model. This shift in its sales approach was described as “supercharging” its efforts to bring products to market, signaling strong confidence in the company's future performance.

Shares of digital engagement platform ON24 (NYSE:ONTF) jumped 17.3% in the afternoon session after the company reported it had received interest for a potential acquisition and posted strong third-quarter financial results. In an official filing, ON24 stated its Board was evaluating preliminary, non-binding indications of interest with the help of Goldman Sachs. While the company noted there was no guarantee of a transaction, the news signaled potential value for shareholders. Adding to the positive momentum, ON24 reported third-quarter earnings per share of $0.03 and revenue of $34.6 million, beating analyst estimates on both fronts. The company also highlighted a major new partnership with LinkedIn and noted that nearly one in five customers was paying for its AI solutions. Following the results, an analyst at Baird raised the firm's price target on the shares to $6 from $5.

Shares of online visibility management platform Semrush (NYSE:SEMR) jumped 1.7% in the afternoon session after the stock's positive momentum continued as the company reported its latest quarterly financial results, which showed an increase in revenue but also a net loss. The filing revealed that revenue grew to $112.1 million for the three months ending September 30, 2025. Despite the top-line growth, the company experienced a net loss of $2.1 million for the quarter. This was a shift from the same period in the previous year, when Semrush posted a net income of $1.1 million. The change from profit to loss was attributed to increased investments in sales, marketing, and research and development.

Shares of buy-now-pay-later service Sezzle (NASDAQCM:SEZL) fell 3% in the afternoon session after news of increased competition in the 'Buy Now, Pay Later' (BNPL) market emerged from major payment players. Global digital payments platform PayPal launched its interest-free "Pay in 4" BNPL solution in Canada, a key market, right before the busy holiday shopping season. This move introduced a significant new competitor for Sezzle. Adding to the pressure, payments platform PPRO also announced a new solution to help merchants access the booming, but increasingly fragmented, European BNPL market. This development highlighted a broader trend of more companies entering the space. The competitive news followed a period of volatility for Sezzle's stock, which had seen a drop after its recent third-quarter results.

Shares of solar tracking systems manufacturer Array (NASDAQ:ARRY) jumped 1.1% in the afternoon session after the stock's positive momentum continued as the company reported strong third-quarter results that surpassed expectations and prompted positive reactions from analysts. The company's revenue surged 70% year-over-year to $393.49 million, significantly higher than the anticipated $305.93 million. This performance led to a net income of $18.35 million, a notable turnaround from the $155.4 million loss recorded in the same quarter of the previous year. Earnings per share came in at $0.30, easily beating the forecasted $0.19. Following the strong report, several financial firms viewed the company more favorably. UBS, JPMorgan, and Citi raised their price targets on the stock to $15, $15, and $12.50, respectively. Additionally, Seaport Global Securities upgraded its rating from Neutral to Buy. One analyst noted that Array was well-positioned to benefit from the growing demand for solar energy needed to power AI data centers and large tech companies.

Shares of temporary space provider WillScot (NASDAQ:WSC) fell 2.3% in the afternoon session after an analyst at DA Davidson lowered the price target on its shares and after a report showed a significant institutional investor sold its entire stake. The move came after DA Davidson analyst Brent Thielman reduced the price target to $32.00 from $35.00, though the 'Buy' rating on the stock was maintained. This adjustment signaled a less optimistic valuation for the company.

Shares of discount retailer Five Below (NASDAQ:FIVE) fell 2.7% in the afternoon session after investor concerns grew over weakening consumer spending and a broader market downturn. 

Shares of global media and entertainment company iHeartMedia (NASDAQ:IHRT) fell 4.6% in the afternoon session after the company reported third-quarter results that featured a significant earnings miss, despite revenue beating Wall Street's expectations. 

Shares of steel and waste handling company Enviri (NYSE:NVRI) jumped 4.3% in the afternoon session after the company reported mixed third-quarter results that included an earnings miss and lowered guidance, but also a potential plan to sell its strong-performing Clean Earth division. 

Waste and recycling services provider Quest Resource (NASDAQ:QRHC) reported revenue ahead of Wall Streets expectations in Q3 CY2025, but sales fell by 13% year on year to $63.34 million. Its non-GAAP loss of $0.02 per share was $0.01 below analysts’ consensus estimates.

Aerospace and defense company Rocket Lab (NASDAQ:RKLB) announced better-than-expected revenue in Q3 CY2025, with sales up 48% year on year to $155.1 million. Guidance for next quarter’s revenue was better than expected at $175 million at the midpoint, 1.7% above analysts’ estimates. Its GAAP loss of $0.03 per share was 67% above analysts’ consensus estimates.

Healthcare data analytics company Health Catalyst (NASDAQ:HCAT) beat Wall Street’s revenue expectations in Q3 CY2025, but sales were flat year on year at $76.32 million. On the other hand, next quarter’s revenue guidance of $73.5 million was less impressive, coming in 1.7% below analysts’ estimates. Its non-GAAP profit of $0.06 per share was in line with analysts’ consensus estimates.

Global media and entertainment company iHeartMedia (NASDAQ:IHRT) announced better-than-expected revenue in Q3 CY2025, but sales fell by 1.1% year on year to $997 million. Its GAAP loss of $0.43 per share was significantly below analysts’ consensus estimates.

Digital engagement platform ON24 (NYSE:ONTF) reported Q3 CY2025 results topping the market’s revenue expectations, but sales fell by 4.7% year on year to $34.6 million. The company expects next quarter’s revenue to be around $34.2 million, close to analysts’ estimates. Its non-GAAP profit of $0.03 per share was $0.02 above analysts’ consensus estimates.

Fuel cell technology Plug Power (NASDAQ:PLUG) met Wall Streets revenue expectations in Q3 CY2025, with sales up 1.9% year on year to $177.1 million. Its non-GAAP loss of $0.12 per share was 8.2% above analysts’ consensus estimates.

Visual content marketplace Getty Images (NYSE:GETY) met Wall Streets revenue expectations in Q3 CY2025, but sales were flat year on year at $240 million. The company’s outlook for the full year was close to analysts’ estimates with revenue guided to $946.5 million at the midpoint. Its non-GAAP profit of $0.08 per share was 84.5% above analysts’ consensus estimates.

Digital advertising technology company PubMatic (NASDAQ:PUBM) beat Wall Street’s revenue expectations in Q3 CY2025, but sales fell by 5.3% year on year to $67.96 million. The company expects next quarter’s revenue to be around $75 million, close to analysts’ estimates. Its non-GAAP profit of $0.03 per share was significantly above analysts’ consensus estimates.

Check out the companies making headlines yesterday:

E-commerce and gaming company Sea (NYSE:SE) beat Wall Street’s revenue expectations in Q3 CY2025, with sales up 36.5% year on year to $5.99 billion. Its GAAP profit of $0.59 per share was 20.6% below analysts’ consensus estimates.

Pinterest’s third quarter was met with a significant negative market reaction, as its results revealed both strengths and challenges. While user growth remained robust and management cited ongoing momentum in visual-first shopping and AI-powered recommendations, the company’s non-GAAP profits fell short of Wall Street expectations. CEO Bill Ready pointed to continued record user engagement, especially among Gen Z users, and highlighted the platform’s progress as an AI-driven shopping assistant. However, CFO Julia Donnelly acknowledged that larger U.S. retailers faced margin pressures due to tariffs, which contributed to a moderation in ad spend in North America.

Corcept Therapeutics’ third quarter results drew a negative market reaction as the company’s revenue missed Wall Street expectations, despite robust year-on-year growth. Management highlighted persistent capacity constraints with its former specialty pharmacy partner as a key factor limiting revenue capture. President of Endocrinology Sean Maduck explained, “Our financial results don’t fully reflect the surge in demand,” attributing recent bottlenecks to insufficient pharmacy capacity. The company has since begun transitioning to a new pharmacy, aiming to better meet rising prescription volumes and position Corcept for future growth.

Grocery Outlet’s third quarter results were met with a significant negative market response, as the company missed Wall Street’s revenue expectations and reported a notable year-over-year decline in operating margin. Management attributed the underperformance in same-store sales to late-quarter changes in promotional activity and a less effective marketing mix, which led to a slowdown in customer traffic. CEO Jason Potter described the impact of these decisions as "net negative," and emphasized the company’s focus on course correction, noting, “we’ve seen a return to weekly comp growth” after adjustments to marketing and promotions.

Supernus Pharmaceuticals reported Q3 results that were above Wall Street’s revenue and profit expectations, but the market reacted negatively, reflecting concerns over execution challenges and forward guidance. Management attributed quarterly growth to robust demand for Qelbree and GOCOVRI, as well as initial contributions from Onapgo and collaboration revenue from Zurzuvae. CEO Jack Khattar acknowledged that supply constraints for Onapgo limited the company’s ability to fully meet patient demand, describing the issue as a “high-quality problem” but one that requires urgent resolution. Management also cited higher operating expenses related to the Sage acquisition as a key factor weighing on profitability.

Rapid7’s third quarter results were met with a significant negative market response, as investors focused on signs of execution challenges and customer growth concerns. Management attributed the quarter’s performance to continued investment in its managed detection and response (MDR) segment, organizational restructuring, and a push toward platform integration. CEO Corey Thomas acknowledged, “We have fallen short of the ARR guidance that we have provided to you in recent history and thus far this year,” while highlighting ongoing efforts to accelerate growth and improve operational discipline.

Matson’s third quarter results saw revenue and profit come in ahead of Wall Street expectations, despite ongoing headwinds from lower freight rates and weaker container volumes in its China service. Management attributed the year-over-year decline primarily to “continued uncertainty and volatility arising from tariffs and global trade,” especially in the Transpacific lane, while also highlighting stable or slightly improved volumes in Hawaii and Alaska. CEO Matthew Cox explained that “operating income was lower year-over-year, primarily due to lower year-over-year freight rates and container volume in our China service,” with muted demand caused by customers advancing cargo ahead of tariff deadlines. However, Matson maintained premium pricing for expedited service and did not pass on new port entry fees to customers, reflecting a disciplined pricing approach even as utilization rates fell.

Teradata’s third quarter saw a positive market response, with management attributing the upside to progress in annual recurring revenue and improved operating efficiency. CEO Stephen McMillan emphasized the company’s acceleration in total ARR growth, citing strong customer adoption of Teradata’s AI and hybrid cloud offerings. The company’s focus on enterprise AI workloads and hybrid deployment flexibility resonated with clients across industries, while cost controls and a shift in the services business contributed to margin expansion. Management also noted the successful execution of AI services and the continued transition from migration projects to higher-value consulting.

Mercury Systems delivered third quarter results that exceeded Wall Street’s expectations, with revenue and non-GAAP profit both coming in above analyst forecasts. Management attributed this outperformance to accelerated deliveries on high-priority defense programs and improved execution across manufacturing operations. CEO William Ballhaus emphasized the company’s progress in reducing net working capital and highlighted strong momentum in its backlog of customer orders. Ballhaus stated, “Our ability to accelerate deliveries on a number of our customers' high-priority programs once again contributed to strong results this quarter.”

Pfizer’s third quarter results reflected ongoing challenges in its COVID-19 franchise, but management pointed to solid growth in non-COVID products and disciplined cost management as key drivers of performance. CEO Albert Bourla emphasized the company’s ability to deliver adjusted earnings above expectations, noting, “Our business is performing well, and we are raising the range of our adjusted diluted EPS guidance for full year 2025.” The quarter saw operational declines in legacy COVID-19 products, but new launches and established brands like Vyndaqel and Nurtec offset some of the softness, supported by ongoing productivity improvements and a focus on high-priority therapeutic areas.

Enpro’s third quarter results came in above Wall Street’s expectations, but the market reacted negatively, reflecting investor concerns about the sustainability of current trends. Management attributed the quarter’s revenue growth to strong performance in both its Sealing Technologies and Advanced Surface Technologies (AST) segments, with demand in aerospace, biopharma, and precision cleaning solutions for semiconductors leading the way. CEO Eric Vaillancourt also pointed to the company’s recent acquisitions and ongoing investments in capacity and technology as key contributors to growth. However, persistent softness in commercial vehicle markets and mixed demand in Asia and Europe weighed on overall sentiment.

Axon’s third quarter was marked by robust revenue growth and a negative market reaction, with shares falling significantly after results. Management attributed the top-line momentum to strong demand across software, services, and connected devices, driven by adoption of new AI-powered offerings and deeper customer relationships. CEO Patrick Smith emphasized the rapid uptake of Prepared and Carbyne, highlighting their immediate impact on 911 call center efficiency, while CFO Brittany Bagley pointed to broad-based international and corrections sector wins. However, management acknowledged a notable contraction in operating margin, citing tariffs and increased R&D investment as primary headwinds.

Dave’s third quarter saw revenue growth and profitability metrics that exceeded Wall Street expectations, but the market response was negative. Management attributed the quarter’s results to a combination of strategic pricing model changes and the rollout of enhancements to its CashAI underwriting platform. CEO Jason Wilk emphasized the impact of switching from an optional to a mandatory fee structure, leading to higher net monetization per transaction and improved member lifetime value. Wilk also highlighted record performance in net credit revenue and the successful deployment of CashAI v5.5, which contributed to better conversion and credit outcomes.

Agilon Health’s third quarter results showed revenue above Wall Street expectations, but profitability remained pressured due to persistent headwinds. Management attributed the quarter’s performance to ongoing execution of clinical and quality programs and cost discipline, but also highlighted the negative impact from lower-than-expected risk adjustment scores and elevated costs from exited markets. Executive Chairman Ronald Williams noted, “We were impacted by lower-than-expected in-year RAF contribution as well as continued high costs from exited markets,” underscoring the operational hurdles faced.

LGI Homes’ third quarter was marked by sharply lower year-on-year sales but a positive market response, as revenue modestly exceeded Wall Street expectations despite a 39.2% decline. Management attributed the quarter’s results to targeted financing incentives and selective price adjustments, which helped support sales activity. CEO Eric Lipar noted that the company leaned into mortgage rate buydowns and advertising to stimulate demand, while maintaining margin discipline through self-developed lots. Lipar emphasized, “We continue to lean into offering the most competitive buydowns possible,” underscoring the central role of affordability in driving buyer interest.

AMD’s third quarter results were shaped by robust demand in its data center and AI businesses, as well as strong sales of server and PC processors. Management attributed the revenue growth to record sales of EPYC CPUs and Instinct GPUs, noting broad-based adoption across cloud, enterprise, and hyperscale customers. CEO Lisa Su highlighted that, “the combination of our expanding compute franchise and rapidly scaling data center AI business drives significant revenue and earnings growth.” However, despite these positive drivers, the market reacted negatively to the results, reflecting investor concerns raised on the call around higher inventory levels and the sustainability of recent growth trends. Management acknowledged increased operating expenses linked to aggressive R&D and go-to-market investments.

Clover Health’s third quarter was marked by robust revenue growth, yet a negative market reaction reflected investor concerns around profitability and cost trends. Management attributed the strong top-line performance to accelerated membership gains, especially as competitors retrenched. However, CEO Andrew Toy acknowledged that the company "missed our targets on both overall adjusted EBITDA and stars," citing higher-than-expected utilization and challenges managing a surge of new members, which diluted near-term margins and pressured overall results.

Upstart’s third quarter was marked by solid year-over-year growth but drew a negative market reaction, as revenue modestly missed Wall Street’s expectations. Management attributed the results to conservative adjustments within its AI-driven credit decision models, which responded to macroeconomic signals by tightening loan approvals and raising interest rates. CEO David Girouard noted, “Our models responded to macroeconomic signals they observed by moderately reducing approvals and increasing interest rates,” leading to a lower conversion rate despite robust demand. The quarter also saw continued progress in new products, particularly in auto and home lending, yet the impact of model conservatism weighed on transaction volumes.

Kratos’ third quarter results saw a negative market reaction despite notable revenue growth and a substantial earnings beat. Management emphasized that the quarter’s performance was driven largely by accelerating demand for its unmanned systems, including shipments of tactical Valkyries to international partners, and robust growth in rocket support and space-related businesses. CEO Eric DeMarco highlighted that Kratos is benefiting from “increasing demand for military-grade hardware or systems and software to support national security,” with the Unmanned Systems division leading the charge thanks to regulatory approvals and new program wins. CFO Deanna Lund added that continued investments in manufacturing and facility expansion were necessary to support the surge in orders but contributed to margin pressures, particularly in long-term fixed price contracts.

Montrose’s third quarter was marked by strong organic growth across all segments and a decisive expansion in margins, leading to a positive market response. Management attributed the results to robust demand from industrial clients, notable cross-selling following emergency response projects, and substantial progress in water treatment offerings. CEO Vijay Manthripragada emphasized the beneficial impact of advanced monitoring technologies and highlighted how recent regulatory changes at the state and international levels have created sustained demand for Montrose’s environmental services. He noted, “Our financial results speak to how environmental stewardship can work in concert with development and value creation.”

Astronics’ third quarter results were met with a significant negative market reaction, as investors appeared to focus on underlying concerns despite the company delivering in-line revenue and a notable beat on non-GAAP profitability. Management attributed the quarter’s performance to broad-based demand across product lines, improved supply chain execution, and cost reduction initiatives—especially in the Test segment, which reached breakeven after recent restructuring. CEO Peter Gundermann emphasized that efficiency gains and a more stable supply chain environment were key differentiators this period, while CFO Nancy Hedges highlighted that productivity improvements and pricing actions helped offset a $4 million tariff impact.

Equitable Holdings faced a challenging third quarter as it missed Wall Street’s revenue and adjusted earnings expectations, resulting in a significant negative market reaction. Management attributed the underperformance primarily to notable items including onetime impacts from its life reinsurance transaction and elevated mortality costs. CEO Mark Pearson acknowledged, “Earnings rebounded from the first half of the year, helped by growth in each of our core businesses and the completion of the life reinsurance transaction,” but also recognized impacts from assumption changes and transaction timing. The company’s focus on growing its asset and wealth management businesses partially offset headwinds in legacy life insurance, while annual assumption reviews validated a conservative approach to risk.

Rivian’s third quarter was marked by a strong market response, which management attributed to robust sales growth and improved unit economics. CEO RJ Scaringe highlighted that the company’s progress was driven by continued momentum in its R1 and commercial van deliveries, alongside early investments in next-generation products like the R2 SUV. Management credited cost reductions in materials and operational improvements for the quarter, with CFO Claire McDonough noting "one of the best quarters ever in automotive cost of goods sold per unit delivered." The team also pointed to expanding contributions from software and services, particularly through its partnership with Volkswagen Group.

Voya Financial’s third quarter results were met with a negative market reaction, despite revenue and non-GAAP earnings per share coming in above Wall Street expectations. Management attributed the quarter’s performance to strong Retirement segment results, robust net flows in Investment Management, and disciplined execution in Employee Benefits. CEO Heather Lavallee highlighted the impact of organic net flows and the integration of OneAmerica, noting, “Our results build on the success we’ve seen year-to-date, with adjusted operating EPS in the quarter up nearly 30%.” However, management acknowledged higher corporate expenses tied to performance-related compensation as a headwind.

CAVA’s third quarter results were met with a negative market reaction, reflecting concerns about moderating same-store sales growth and a more challenging consumer environment. Management pointed to flat traffic and softer demand among younger guests as key factors behind the quarter’s performance. CEO Brett Schulman acknowledged, “today’s environment is creating real pressures for consumers, especially younger guests who are making more deliberate choices about where they spend.” While new menu innovations and continued expansion supported overall sales growth, the company faced higher labor and operating costs, which offset some of the benefits from increased scale and restaurant openings.

Flywire delivered a calendar Q3 marked by robust client demand and strong execution across its core verticals, with the market responding positively to the company’s results. Management highlighted the addition of over 200 new clients and ongoing traction outside traditional education markets as key drivers. CEO Michael Massaro attributed the outperformance to Flywire’s ability to consolidate payment flows for clients, noting that their Student Financial Software platform and expansion in regions such as the U.K. and Asia played a significant role. Additionally, diversified revenue streams in travel, healthcare, and B2B contributed, with product innovation and operational efficiency supporting margin gains.

Match Group’s third quarter results met Wall Street’s revenue expectations, reflecting early progress on the company’s turnaround strategy. Management attributed performance to product updates at Tinder and Hinge, which focused on enhancing user experience and trust. CEO Spencer Rascoff highlighted features like the AI-powered Chemistry tool on Tinder and new prompt-driven profile elements that are improving user engagement. While payers declined year over year, Rascoff emphasized that “Sparks”—a proxy for meaningful conversations—have increased among Gen Z users, suggesting that core user experiences are resonating despite lower overall active users.

TPG reported third quarter results that exceeded Wall Street’s revenue expectations, but the market responded negatively, likely due to a miss on adjusted operating income. Management attributed the quarter’s revenue growth to robust fundraising across private equity and credit, as well as record capital deployment. CEO Jon Winkelried pointed out that TPG’s capital formation was driven by strong client demand and differentiated performance, stating, “We raised a near record $18 billion of capital, up 60% from the second quarter.” Despite these positives, concerns about margin sustainability and the timing of performance-related earnings weighed on investor sentiment.

Lindblad Expeditions delivered a quarter that was met with a positive market reaction, reflecting strong execution in both its cruise and land-based adventure segments. Management attributed the revenue growth to higher occupancy rates, a significant increase in guest nights, and robust yields—especially in core destinations like Alaska. CEO Natalya Leahy highlighted that the company's commercial strategy, which emphasizes occupancy and revenue optimization, is “working and gives us strong confidence that we are on our way to achieve historical occupancy levels in 2026 and beyond.” The company also cited the ongoing success of its Disney and National Geographic partnerships as key contributors to recent performance.

Bowhead Specialty’s third quarter performance was marked by robust growth across its core business lines, with the market responding positively to the company’s execution. Management attributed the results to disciplined underwriting in its casualty division, selective risk-taking, and continued expansion in healthcare and professional liability. CEO Stephen Sills specifically highlighted the timing of Bowhead’s entry into the excess and surplus (E&S) casualty market and the company’s focus on avoiding underpriced segments as key drivers. Operational efficiencies, particularly through technology enhancements, also played a role in supporting the company’s margin profile.

Revolve’s third quarter was marked by strong margin expansion, which contributed to significant bottom line outperformance despite revenue coming in slightly below Wall Street expectations. Management attributed the solid results to improved gross margin, driven largely by advancements in its markdown optimization algorithm and a deliberate reduction in promotional activity. Notably, the expansion of owned brands also played a key role, with Co-CEO Michael Mente highlighting, “Our owned brand penetration of REVOLVE segment net sales increased year-over-year for the third consecutive quarter in Q3.”

Paylocity’s third quarter results were shaped by steady demand for its workforce management software and increased adoption of its AI-powered platform. Management highlighted that the recent launch of Paylocity for Finance and new AI assistant features played a significant role in expanding use across HR, finance, and IT functions. CEO Toby Williams noted, "Our ongoing investment in AI capabilities is resulting in higher product engagement and client satisfaction." Additionally, the company’s broker referral channel remained robust, contributing over a quarter of new business and supporting stable client retention.

Zoetis faced a challenging third quarter, with the market reacting negatively to results that showed flat year-on-year sales and a trim to full-year revenue guidance. Management attributed the muted performance primarily to subdued clinic visits in the U.S. companion animal segment and heightened promotional activity from competitors. CEO Kristin Peck noted, “Growth moderated this quarter driven by a strong year-over-year comp and macro factors, including vet clinic visits and promotional activity.” The company also pointed to social media-driven misperceptions affecting its osteoarthritis pain portfolio, especially Librela, and acknowledged that competitive launches in dermatology created additional headwinds.

Amgen’s third quarter results were well received by the market, reflecting robust volume-driven growth across its diversified portfolio. Management credited rising demand for key medicines—including Repatha, EVENITY, TEZSPIRE, and its rare disease and biosimilar portfolios—as major contributors to the company’s 12% year-over-year revenue increase. CEO Robert Bradway highlighted, “Volume growth reflects the strength of our portfolio and the value our medicines provide to patients and prescribers.” The quarter also benefited from product launches and expanded access initiatives.

Toast’s third quarter results were well received by the market, as the company surpassed analyst expectations for both revenue and profitability. Management attributed the outperformance to consistent growth in its core U.S. restaurant platform, with notable wins among large operators like Nordstrom and TGI Fridays. CEO Aman Narang highlighted the company’s investments in AI-powered tools and ongoing expansion into new market segments as key contributors, stating, “We surpassed $2 billion in ARR for the first time, and I’m even more energized about where we’re headed.”

Skyworks Solutions delivered a positive Q3, with results that exceeded Wall Street expectations. Management credited the quarter’s strength to higher-than-anticipated mobile demand, particularly from its largest customer, and a favorable product mix. CEO Phil Brace highlighted, “Mobile results were stronger than expected and our guide reflects that,” attributing the outperformance to both increased unit volumes and richer content in leading smartphone models. The company also benefited from sustained growth across its broad markets segment, including automotive, edge IoT, and data center infrastructure.

Masimo’s third quarter results for 2025 were met with a significant negative market reaction, despite the company surpassing Wall Street’s revenue and adjusted profit expectations. Management attributed the quarter’s topline performance to robust contracting activity, with CEO Catherine Szyman highlighting “strong underlying demand” for Masimo’s healthcare technologies and an 8% year-on-year increase in shipments of technology boards and monitors. CFO Micah Young emphasized that margin expansion was primarily driven by operational improvements and cost efficiencies, partially offset by tariff-related headwinds. The company also closed the divestiture of Sound United, which provided capital for share repurchases and debt reduction.

American Financial Group’s third quarter was marked by strong performance in its Specialty Property and Casualty insurance operations, with management emphasizing robust underwriting margins and stable investment income as key contributors. The company’s annualized core operating return on equity reached 19%, and management pointed to improved profitability across most insurance lines. Notably, a disciplined approach to underwriting and selective growth allowed American Financial Group to benefit from favorable pricing trends, especially in commercial auto liability and specialty casualty businesses. Co-CEO Carl Lindner highlighted, “Our compelling mix of Specialty Insurance businesses and disciplined operating philosophy continue to position us well for the future.”

GoodRx’s third quarter results were met with a moderate positive market response, as the company’s revenue modestly exceeded Wall Street expectations despite being flat year-over-year. Management highlighted a mix of strategic wins, such as expanded partnerships with pharmaceutical manufacturers and new pharmacy integrations, as key drivers. CEO Wendy Barnes cited the launch of direct-to-consumer pricing programs with major brands like Novo Nordisk and Amgen, as well as the rollout of the RxSmartSaver solution at Kroger, as evidence of execution on core priorities. However, the ongoing impact of Rite Aid closures and lower transaction volume in certain programs continued to weigh on prescription marketplace activity.

Latham’s third quarter results showed year-on-year revenue growth despite a flat U.S. in-ground pool market, with management crediting strong demand for fiberglass pools, pool covers, and liners as the main drivers. CEO Scott Rajeski noted, “all 3 of our product lines experienced year-on-year growth,” highlighting that the company’s investments in product innovation and marketing have outpaced broader industry trends. Latham’s ability to mitigate tariff impacts and capture share in key geographies, particularly the Sand States, contributed to its margin expansion and competitive positioning.

Advanced Energy’s third quarter saw a positive market reaction, reflecting the company’s outperformance against Wall Street expectations. Management attributed the robust quarterly results to a significant surge in data center revenue, which more than doubled year over year, as well as operational execution and cost savings from the closure of its China manufacturing facility. CEO Stephen Kelley emphasized that “strong revenue, solid execution and cost savings from our China factory closure pushed gross margin higher,” while also highlighting the benefits of Advanced Energy’s diversified end-market strategy in stabilizing profits and cash flow.

Horace Mann Educators’ third quarter results were met with a positive market reaction, as the company outperformed Wall Street’s expectations on both revenue and adjusted earnings per share. Management pointed to strong growth across all business lines, particularly in the Supplemental and Group Benefits segment, and cited lower catastrophe losses in Property and Casualty as a key factor supporting improved profitability. CEO Marita Zuraitis emphasized that “sales are outpacing the prior year across all business lines” and noted the impact of recent actions to reduce volatility and improve efficiency, particularly in the property portfolio.

Lucky Strike’s third quarter results reflected a mix of steady customer engagement and shifting business dynamics. Management attributed the period’s performance to ongoing strength in core walk-in retail and league bowling, which saw increased participation and food and beverage sales. CEO Thomas Shannon pointed to “encouraging momentum in our online booking funnel” and highlighted the impact of disciplined cost management and capital allocation. However, softness in corporate events bookings weighed on overall same-store sales, a trend the company believes is beginning to improve based on October results.

Zeta Global’s third quarter was marked by strong revenue growth and a positive market reaction, reflecting momentum in its AI-driven marketing platform and customer base expansion. Management pointed to broad-based industry gains, particularly in telecom, and highlighted the impact of deeper multi-use case adoption among enterprise clients. CEO David Steinberg emphasized that Zeta’s platform “delivers a 6:1 return on investment” for clients, crediting AI integration and data-driven personalization as key differentiators. The company’s successful Zeta Live event further contributed to pipeline growth and customer engagement.

Benchmark’s third quarter performance was met with a positive market response, supported by broad-based sector contributions and strong execution on new program wins. Management highlighted double-digit growth in both medical and aerospace & defense (A&D), while industrial and advanced computing & communications (AC&C) also posted sequential gains. CEO Jeffrey Benck noted, “I was particularly encouraged by the broadening of sectors that contributed to our revenue growth,” and pointed to a multiyear record in cash cycle efficiency, reflecting disciplined working capital management. Supply chain normalization in the medical segment and new product ramps provided additional lift, offsetting some softness in semi-cap equipment due to external trade restrictions and cyclical headwinds.