Take a look at the businesses making headlines earlier than the bell: Qualcomm — Shares slipped 1% as Qualcomm expects that it’s going to lose Apple as a buyer for its modem enterprise within the coming years. This potential waning alternative overshadowed Qualcomm’s fiscal fourth-quarter earnings and income beat and robust present quarter forecast. Warner Bros. Discovery — Shares fell 1% after Warner Brothers Discovery reported a third-quarter lack of 6 cents per share, on an adjusted foundation, on revenues of $9.05 billion. Analysts polled by LSEG had anticipated a lack of 4 cents per share on revenues of $9.15 billion. Underneath Armour — The sportswear firm fell as much as 1% even after the corporate posted an earnings and income beat. Underneath Armour reported second quarter earnings of 4 cents per share, on an adjusted foundation, on revenues of $1.33 billion. Analysts polled by LSEG had anticipated EPS of two cents on revenues of $1.31 billion. Penn Leisure , DraftKings — The 2 shares rallied after Penn Leisure and ESPN introduced the early termination of their unique U.S. on-line sports activities betting deal. ESPN additionally signed a brand new betting partnership with DraftKings . Penn shares have been up practically 7%, whereas DraftKings climbed 4.5% Duolingo — Shares tumbled 25% after the corporate’s fourth-quarter bookings estimate was under expectations. The language studying platform topped third-quarter income forecasts and raised its gross sales outlook. Income of $271.7 million within the third quarter bested estimates of $260.3 million. The corporate now expects income of $1.028 billion to $1.032 billion this yr. Snap — The social media platform surged 19% after it unveiled a $500 million buyback program and issued sturdy fourth-quarter income steerage. Moreover, Snap stated Perplexity AI can pay it $400 million to combine the AI startup’s search capabilities into Snapchat. AppLovin — The software program inventory jumped roughly 8% after AppLovin’s quarterly outcomes got here in higher than anticipated. For the third quarter, Applovin posted adjusted EBITDA of $1.16 billion, whereas analysts surveyed by FactSet had anticipated $1.09 billion. Income of $1.41 billion topped the consensus estimate of $1.34 billion. It additionally issued a rosy fourth-quarter outlook. Papa John’s Worldwide — Shares slumped 5% because the pizza chain posted a third-quarter earnings miss. In its final quarter, Papa John’s earned 32 cents per share on income of $508.2 million. Analysts polled by LSEG had anticipated earnings of 41 cents and $523.8 million in income. The inventory is now down 19% on the week, sinking on Tuesday after Reuters reported that Apollo International had withdrawn its supply to take Papa John’s personal. Lyft — The journey hailing inventory superior about 6% after an earnings beat. Lyft earned 11 cents per share. Analysts polled by LSEG anticipated a revenue of 8 cents per share. ARM — The chip designer rose 3.8% after topping earnings and income expectations. Arm earned an adjusted 39 cents per share on income of $1.14 billion. Analysts surveyed by LSEG had anticipated Arm to earn 33 cents per share on income of $1.06 billion. The corporate’s third-quarter forecast additionally outpaced estimates. Figma — Shares jumped greater than 4% after Figma reported third-quarter income that topped estimates and raised its full-year forecast. Figma reported income of $274 million, greater than the LSEG consensus estimate of $265 million. The collaborative design platform now forecasts income of $1.04 billion and $1.05 billion in fiscal 2025, raised from its earlier forecast of $1.02 billion to $1.03 billion. Devon Vitality — The power inventory rose 2% following the corporate’s earnings and income beat. Devon Vitality reported $1.04 earnings per share, on an adjusted foundation, and $4.33 billion in income. That surpassed the 93 cents per share and $4.14 billion in income that analysts polled by FactSet had anticipated. DoorDash — The meal supply firm plunged greater than 11% after it reported combined outcomes for the third quarter . DoorDash reported earnings of 55 cents per share, disappointing the 69 cents per share analysts polled by LSEG anticipated. Nevertheless, income of $3.45 billion topped analysts’ expectations for $3.36 billion. Fortinet — The cybersecurity inventory dropped 11% after Fortinet lowered its full-year steerage, although third-quarter earnings got here in higher than anticipated. Fortinet earned 74 cents per share, excluding gadgets, on income of $1.72 billion. Analysts polled by LSEG anticipated earnings of 63 cents per share on $1.70 billion income. Nevertheless, the corporate modified its income steerage via the top of this yr to between $6.72 billion and $6.78 billion, a slight lower from its prior steerage of $6.68 billion to $6.83 billion. HubSpot — Shares slumped 12%, even after stronger-than-expected earnings and income. For the third quarter, HubSpot posted earnings of $2.66 per share, excluding gadgets, on income of $810 million. Analysts polled by LSEG anticipated earnings of $2.58 per share on income of $787 million. Elf Magnificence — Shares dropped greater than 21% after Elf Magnificence posted combined fiscal second-quarter outcomes. Earnings of 68 cents per share exceeded the LSEG consensus estimate of 57 cents a share. Nevertheless, income of $344 million upset expectations of $366 million. Marvell Know-how — Shares jumped greater than 7% after Bloomberg, citing folks aware of the matter, reported that Softbank thought-about a doable takeover of the corporate earlier in 2025. Softbank had the thought of mixing it with Arm Holdings. The folks additionally stated that despite the fact that Marvell and SoftBank aren’t in energetic negotiations, curiosity in a deal might come again. — CNBC’s Sean Conlon, Lisa Han and Liz Napolitano contributed reporting
