After-Hours Stock Movers:
Airbnb (NASDAQ:ABNB) fell 15% after it reported mixed results for the second quarter and issued disappointing guidance due to expectations regarding moderation in the growth rate next quarter.
Super Micro Computer (NASDAQ:SMCI) initially rose 5% despite reporting lower profit in the second quarter than expected. This was offset by expectations for a large increase in yearly revenue and plans for a 10-for-1 forward split of its common stock. Shares were choppy afterhours, later falling 4%.
Lumen Technologies (LUMN) rose 70% after is raised its full year guidance for free cash flow from $100 to $300 million to $1.0 to $1.2 billion.
Upstart Holdings (NASDAQ:UPST) rose 20% after it reported a smaller lose than expected during the quarter and better revenue, along with strong revenue guidance.
Reddit (RDDT) fell 5% despite betting estimates and raising guidance. Expectations may have been elevated heading into the print.
Instacart (NASDAQ:CART) rose 7% after it published strong second quarter results, beating on revenue and operating profit. It guidance for operating profit also topped views.
Rivian (NASDAQ:RIVN) Automotive (RIVN) fell 2% after it reported mixed results for the second quarter, missing on the bottom line despite solid revenue. The EV manufacturer also maintained its guidance for the year.
Fortinet (NASDAQ:FTNT) rose 14% after publishing stronger than expected second quarter guidance and issuing a solid forecast for the third quarter and full year.
Sunrun (NASDAQ:RUN) rose 7% after it announced it has expanded its support for the energy grid in Texas with a partnership with Tesla Electric.