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Lanon Wee

After-hours Stock Activity: Penn Entertainment, Super Micro Computer, Rivian and Others

Rivian Automotive went down 2.5% after the close, despite surpassing analysts' forecasted second-quarter losses of $1.41 per share and revenue of $1.0 billion with an adjusted loss of $1.08 per share on revenue of $1.12 billion. Super Micro Computer plummeted 12%, even though it posted fiscal fourth-quarter results of $3.51 per share on revenue of $2.18 billion, higher than the expected $2.96 per share and $2.08 billion. Axon Enterprise rose 10% as its second-quarter adjusted earnings of $1.11 per share beat the 62 cents per share consensus estimate from FactSet, with revenue of $374.6 million above the $350.5 million projections. Penn Entertainment rocketed 22% upon announcing it will launch an online sportsbook with ESPN, branded ESPN Bet, in the fall. Take-Two Interactive Software rose 3.4% after confirming its full-year bookings guidance, though its first quarter revenue of $1.20 billion was below the $1.21 billion anticipated by Refinitiv. Twilio's stock price increased 10% as its second-quarter adjusted earnings of 54 cents per share on revenue of $1.04 billion exceeded the Refinitiv estimate of 30 cents per share on revenue of $986 million. Bumble shares dipped 3.5% after the online dating company's second-quarter earnings of 5 cents per share on revenue of $260 million were shy of the Refinitiv forecast of 3 cents per share on revenue of $257 million. Lyft shares initially jumped 12%, but settled 6% lower after the ride-hailing company delivered revenue of $1.02 billion, in line with Refinitiv's forecast, and adjusted per share earnings of 16 cents, better than the expected loss of 1 cent per share.

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