CRWV, NBIS, FRMI, GEMI and more
Check out the companies making the biggest moves midday: Fermi — The energy and data center developer lost 11% after reporting a third-quarter loss of 84 cents per share and a total net loss of almost $347 million. Fermi went public in September at $21 a share in an IPO led by UBS, Evercore ISI, Cantor Fitzgerald and Mizuho. eToro Group — The trading platform jumped 10% after Deutsche Bank upgraded the stock to buy from hold, citing strong fundamentals and an attractive valuation. Maplebear — BMO upgraded the Instacart parent to outperform from market perform, pointing to a historically cheap valuation and Instacart’s position as a ” best-in-class grocery delivery player .” The stock rallied 6% in response. Gemini Space Station — The Winklevoss brothers’ crypto exchange lost almost 16% after issuing a third-quarter adjusted EBITDA loss of $50.7 million was more than the $46.7 million loss expected by analysts polled by FactSet. Revenue, however, topped expectations. Sea Ltd. — The Singapore-based internet and mobile platform fell almost 6%. Third-quarter adjusted EBITDA in its e-commerce business of $186.1 million trailed analysts’ consensus estimate of $214.1 million, and the adjusted EBITDA loss in “other services” of $25.1 million was wider than the expected $15.3 million loss, based on a FactSet survey of Street expectations. Nebius Group — The Dutch provider of an AI-centered cloud platform dropped 5% after reporting a wider adjusted third-quarter EBITDA loss and quarterly revenue that fell short of what analysts had estimated, according to consensus numbers compiled by FactSet. Full year revenue guidance for 2025 of $500-550 million also missed analysts’ $575 million expectation. Nvidia — The chipmaker fell 3.4% after SoftBank said it sold its entire stake in the AI chipmaker for $5.83 billion in October. Life360 — The location tracking app fell more than 23% after agreeing to buy advertising company Nativo for $120 million in cash and stock. The deal overshadowed better-than-expected third-quarter results and strong full-year earnings and revenue guidance. CoreWeave — Shares sank 14% after the artificial-intelligence infrastructure company’s full-year guidance disappointed investors . CoreWeave expects revenue to come in between $5.05 billion and $5.15 billion, less than the $5.29 billion expected from analysts polled by LSEG. Paramount Skydance — The media stock jumped 10% after the company reported earnings . The CBS parent announced plans to cut more costs and lay off additional employees, while also saying it would raise prices for its streaming service next year. XPeng — U.S.-listed shares advanced 4% amid growing enthusiasm over the Chinese EV company’s humanoid technology . It recently unveiled its next generation humanoid robot and said it plans to launch robotaxis next year. Beyond Meat — The plant-based meat company lost 7% after issuing disappointing fourth-quarter guidance. Beyond Meat expects quarterly revenue in a range of $60 million to $65 million, citing an “elevated level of uncertainty.” Analysts polled by LSEG were expecting guidance of $70 million. Rigetti Computing — Shares shed 8% after the quantum computing company’s third-quarter revenue of $1.9 million fell short of the FactSet consensus estimate of $2.2 million. BigBear.ai — The IT service management company climbed 7% following a third-quarter revenue beat. BigBear.ai reported revenue of $33.1 million, compared to the $31.8 million expected from analysts polled by FactSet. It also reaffirmed its full-year revenue guidance. RealReal — The online and brick-and-mortar marketplace raised its full-year revenue guidance and issued third-quarter revenue that exceeded analysts’ expectations, sending shares 35% higher. Rocket Lab — The space company rose 3% following its latest financial results. Rocket Lab reported a third-quarter loss of 3 cents per share, narrower than the 10 cents per share expected from analysts polled by LSEG. Rocket Lab’s quarterly revenue of $155 million also beat analysts’ expectation of $152 million, per LSEG. — CNBC’s Michelle Fox, Alex Harring and Fred Imbert contributed reporting.
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