Upstart stock was moving 19.7% higher in overnight trading. The lender company posted positive surprises across the board Thursday.
The company, which uses artificial intelligence to inform loan decisions, expects fourth-quarter revenue of $180 million, while analysts tracked by FactSet were expecting $162.3 million.
Upstart also models $5 million on the basis of earnings before interest, taxes, depreciation and amortization, whereas the consensus view calls for $3.5 million in positive adjusted Ebitda.
XPeng Inc. ’s U.S.-listed shares continued to climb 5.34% in overnight trading after a 15.6% surge on Thursday. The Chinese electric vehicle maker unveiled a series of innovative technologies and strategic initiatives during its highly anticipated AI Day event.
The highlight of the event was the launch of the P7+ model, heralded as the "world's first AI-defined" car. This highly advanced electric sedan boasts autonomous driving capabilities powered by XPeng's AI Eagle-Eye Vision intelligent driving system and neural networks, positioning it as a direct competitor to Tesla's Full Self-Driving software.
Trump-related shares slid in overnight trading. Phunware fell over 16%; Trump Media fell over 7%. It's tough to see this particular "Trump trade" lasting now the U.S. election is over.
Trump Media is also losing money -- in surprise earnings published the day of the election, the company reported a third-quarter operating loss of $23.7 million. Its revenue fell 6% from a year ago to $1 million.Trump's come-from-behind win sent shockwaves through Wall Street, with investors scrambling to reposition themselves amid uncertainties surrounding the potential policies and leadership style of a new Trump administration.
Pinterest's fourth-quarter revenue forecast failed to impress investors looking for a boost from the holiday shopping season, as bigger online ad sellers largely outperformed, sending its shares down 12.44% in overnight trading.
Payments firm Block's third-quarter revenue fell short of Wall Street expectations, signaling a slowdown in consumer spending and sending its shares down 1.9% in overnight trading.
Lucid shares rose 5.4% in overnight trading. Lucid beat Wall Street expectations for third-quarter revenue on Thursday and reiterated its annual production forecast as it benefits from strong demand for its luxury electric sedans.
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