Wall Street’s after-hours tape on Tuesday was anything but quiet. From Netflix’s earnings miss to Intuitive Surgical’s blowout quarter and Beyond Meat’s meme-fueled surge, investors had plenty to chew on. Here’s a rundown of the biggest movers.
Netflix Misses the Mark
Netflix (NFLX) slipped more than 4% after reporting Q3 adjusted earnings of $5.87 per share, well below the $6.97 analysts expected, according to LSEG. Revenue came in at $11.51 billion, in line with forecasts, but the company blamed weaker profits on an ongoing tax dispute in Brazil. For a stock that’s been riding high on subscriber growth, the earnings miss was enough to spook investors.
Western Alliance Beats Expectations
Western Alliance (WAL) gained over 3% after delivering stronger-than-expected results. The regional bank posted $2.28 EPS on $938 million revenue, topping consensus estimates. Loss provisions, however, came in higher than expected at $80 million, suggesting credit risks remain a watchpoint.
DraftKings Bets on Expansion
DraftKings (DKNG) jumped nearly 7% after announcing it will acquire predictions platform Railbird. Investors cheered the move as another step in DraftKings’ push to expand its ecosystem beyond traditional sports betting.
Texas Instruments Guides Lower
Texas Instruments (TXN) fell more than 5% after reporting $1.48 EPS, just shy of estimates, and issuing weak Q4 guidance. The company expects profit between $1.13–$1.39 per share, below the Street’s $1.41 consensus. The cautious outlook reinforced concerns about slowing demand in the semiconductor sector.
Beyond Meat Extends Meme Rally
Beyond Meat (BYND) surged another 10% after hours, extending its 146% rally on Tuesday. The stock has been on fire since announcing a distribution deal with Walmart and getting added to the Roundhill Meme Stock ETF, which triggered a short squeeze. For now, the plant-based burger maker is sizzling again, though skeptics warn the rally may be more about momentum than fundamentals.
Intuitive Surgical Delivers a Knockout Quarter
Intuitive Surgical (ISRG) soared nearly 22% after crushing expectations. The robotic-surgery company reported $2.40 EPS on $2.51 billion revenue, topping forecasts of $1.98 EPS and $2.4 billion revenue. Investors piled in, betting that demand for robotic-assisted procedures will keep growing.
Mattel Misses on Toys
Mattel (MAT) dropped 7% after reporting $0.89 EPS on $1.74 billion revenue, missing estimates of $1.07 EPS and $1.83 billion revenue. The weaker results suggest the toy maker is still struggling to sustain momentum after last year’s "Barbie" boost.
Other Movers
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Pegasystems (PEGA) rose 7% after beating Q3 estimates with $0.30 EPS on $381 million revenue.
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Capital One (COF) gained 3% after posting a strong beat: $5.95 EPS on $15.36 billion revenue, well above expectations.
The Bottom Line
After-hours trading was a tale of winners and losers: Netflix and Mattel disappointed, Texas Instruments guided lower, while Intuitive Surgical, Beyond Meat, and DraftKings stole the spotlight. With earnings season heating up, investors should brace for more late-night fireworks.