Market Movers | SoundHound AI Surges 20%; Unity Jumps 11%; Hertz Rises 8%; Duolingo Falls 8%; AppLovin Plunges 18%

Tiger Newspress08-06 21:54

Clover Health beat Wall Street’s expectations in the second quarter of 2026, reporting adjusted earnings of 5 cents a share on revenue of $743.2 million. Analysts had expected 4 cents a share on revenue of $728.27 million. The company also raised its full-year outlook, and the stock rose 23%.

SoundHound AI shares jumped 20% as the voice artificial intelligence company reported second-quarter results and guidance that topped Wall Street's forecast.

Aeva Technologies reported a smaller-than-expected loss in Q2 2026 and slightly higher revenue, then sent shares higher 19% as investors digested a new push into optical connectivity for AI data centers. The company posted an adjusted loss of $0.41 a share, better than the $0.43 loss analysts expected, while revenue rose to $6.1 million versus the $6.03 million forecast.

Chime Financial raised its full-year revenue growth forecast above Wall Street estimates on ​strong demand for its digital banking products, and announced the departure of ‌longtime Chief Financial Officer Matt Newcomb. Shares of the company were last up 15%.

Unity Software shares jumped 11% after the game engine company reported stronger-than-expected second-quarter results and guidance.

Redwire stock gained 9% after the space and defense technology company posted record second-quarter (Q2) revenue, improved margins and reaffirmed its 2026 outlook.

Hertz stock jumped 8% after the company’s quarterly earnings topped Wall Street estimates, offering some relief to weary investors.

MercadoLibre shares slid 6% as analysts worried about the e-commerce giant’s spending plans despite it reporting sales and profits that beat consensus estimates in the second quarter.

D-Wave Quantum shares tumbled 8% on Thursday, as investors reacted to the company's second-quarter revenue falling short of expectations.

Duolingo shares sank 8% after the company’s conservative revenue outlook for the current quarter overshadowed user growth.

Fastly shares fell 8% despite the company’s strong results and raised fiscal guidance.

Zillow shares tumbled 11% despite second-quarter earnings exceeding expectations as the real estate services provider announced job cuts and a softer-than-expected revenue outlook.

Sunrun highlighted positive cash generation and record storage adoption while simultaneously reducing its full-year outlook. The mixed message triggered a sharp selloff, with shares falling 12%.

Peloton shares tumbled 12% in morning trading Thursday as the outlook disappointed investors. Even so, Peloton CEO Peter Stern highlighted the major strides the company has made in becoming profitable.

Datadog shares plummeted 15% on Thursday after the company reported second-quarter 2026 financial results that failed to meet the elevated expectations fueled by a recent wave of analyst upgrades.

Klaviyo reported second quarter results that beat revenue expectations but disappointed investors with cautious near-term guidance, sending shares down 15%.

Dutch Bros reported second quarter results that exceeded analyst expectations, yet shares tumbled 15% as investors appeared to sell the news and focus on costs related to the acquisition of 65 Salad and Go locations. 

AppLovin shares plunged 18% after delivering second-quarter results that proved sky-high profit growth isn’t always enough for Wall Street. Despite surging year-over-year earnings, the marketing software titan missed sales targets and issued a lukewarm forecast for the quarter ahead.

Figma reported a sharp rise in costs and a decline in profit margins as the ​design software company ramps up AI investments, triggering a 18% slump in ‌its shares, despite a rosy annual revenue forecast.

HubSpot reported second quarter results that exceeded analyst expectations, but shares tumbled 21% as the company’s full-year revenue guidance fell short of Wall Street estimates.

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