Marvell announces Celestial AI acquisition, CrowdStrike stock edges higher, American Eagle pops

CrowdStrike’s (CRWD) third quarter results came in marginally better than expectations, leading the company to raise its full-year guidance, as artificial intelligence adoption boosts demand for its Falcon platform.

The cybersecurity company reported a diluted loss per share of $0.14, compared to a $0.07 loss in the same quarter a year ago. Analysts estimated CrowdStrike would report a $0.10 loss per share, according to S&P Global Market Intelligence.

CrowdStrike posted revenue of $1.23 billion, a 22% increase over revenue of $1.01 billion last year and surpassing estimates of $1.21 billion.

For the full year, CrowdStrike expects revenue of $4.79 billion to $4.80 billion, ahead of the Street’s estimates for full-year revenue guidance of $4.78 billion.

“We believe the Street is underestimating the growth potential for CrowdStrike as a second/third derivative beneficiary of the AI Revolution and this speaks to our core bullishness in the name continuing from current levels,” Wedbush analyst Dan Ives wrote in a note ahead of earnings. Ives named CrowdStrike in his Best Ideas list, noting that it’s an AI-powered cybersecurity that businesses increasingly can’t live without.

CrowdStrike stock wavered around the flat line ahead of the company’s earnings call. You can listen to the call live here at 5 p.m. ET.

Okta (OKTA) stock fell after the company beat Wall Street estimates for revenue and profits in the third quarter.

Revenue for the third quarter rose 12% to $742 million,⁠ beating estimates of $730.4 million. Adjusted ​profit per share of $0.82 also ​exceeded estimates of $0.76.

Reuters reports:

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Marvell (MRVL) stock slid 6% in extended trading after the chipmaker reported an earnings beat and announced plans to acquire chip startup Celestial AI for $3.25 billion in cash and stock.

The chipmaker reported earnings per share of $2.20 on revenue of $2.07 billion. Wall Street was expecting earnings of $1.37 per share on revenue of $2.06 billion, according to S&P Global Market Intelligence.

Revenue from data centers, a closely watched metric that makes up approximately three-fourths of Marvell’s revenue, rose to $1.52 billion, in line with expectations.

Marvell said it expects Celestial AI, which makes optical technology for training and running AI models, to begin contributing $500 million in annual revenue starting in the second half of fiscal 2028, reaching a $1 billion run rate by the fourth quarter of fiscal 2029.

“This acquisition further strengthens Marvell’s position at the forefront of one of the fastest-growing opportunities in AI datacenter infrastructure,” Marvell’s CEO Matt Murphy said.

Credo (CRDO) stock surged as much as 20% on Tuesday after the company swung to a profit in its fiscal second quarter and touted that it’s benefitting from the booming AI build-out.

Credo, which makes cables and other connections for data centers, reported earnings per share of $0.44, topping Wall Street’s estimates for profits of $0.30 per share. Revenue of $268 million also beat expectations for $234 million, according to S&P Global Market Intelligence.

For the current quarter, Credo expects revenue to be between $335 million and $345 million. Analysts had an average estimate of $341 million as of Tuesday.

“These are the strongest quarterly results in Credo’s history, and they reflect the continued build-out of the world’s largest AI training and inference clusters,” Credo’s CEO William Brennan said on the company’s earnings call. “AI clusters are no longer measured in tens of thousands of GPUs. They’re now measured in hundreds of thousands and soon millions. The scale, density, and complexity of these systems are pushing every aspect of interconnect.”

MongoDB (MDB) stock soared 15% in extended trading on Monday after the cloud software company reported revenue well above its guidance for the third quarter.

Strength in the Atlas platform drove an increase in revenue, which reached $628.3 million in the quarter, a 19% year-over-year increase. The company previously guided for revenue between $587 million and $592 million.

MongoDB also recorded a $0.02 loss per share, shallower than the $0.78 per share loss analysts were expecting, according to S&P Global Market Intelligence.

“Q3 was an exceptional quarter,” MongoDB CEO CJ Desai said. “Existing customers are expanding with us and net-new customer additions continue to show strength. Companies across industries and geographies are choosing MongoDB because we provide a unified data platform that powers mission-critical workloads today and also positions them to capitalize on the emerging AI platform shift.”

For the full year, the company expects revenue to hit $2.434 billion to $2.439 billion, up from its previous guidance of $2.34 billion to $2.36 billion.

S&P 500 company earnings in the third quarter have largely been solid. And with nearly all of the reports in, the 13.4% earnings growth rate so far is likely to hold.

Although most (83%) of the earnings surprises have been to the upside, investors have been less enthusiastic about earnings beats and more punishing about earnings disappointments, as indicated by the reactions in individual stock names.

According to FactSet’s John Butters, as of Nov. 21, S&P 500 companies that have reported third quarter earnings beats have seen their stock price increase by an average of 0.4% in the four-day period around their earnings release. This is less than the five-year average increase of 0.9%.

For companies that miss earnings estimates, the reaction has been disproportionately negative.

Companies that report earnings below expectations have seen their stock decrease by 5% on average during the same period (two days before the earnings release through two days after). This is well below the five-year average decrease of 2.6%.

Concerns about an artificial intelligence bubble, slowing consumer spending, and Federal Reserve rate cuts were in flux throughout the season. And sky-high expectations created a high bar for some individual names, such as Nvidia (NVDA).

Yahoo Finance’s Francisco Velasquez reports:

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Workday (WDAY) reported rising earnings that beat estimates on Tuesday, but the stock was down roughly 6% in after-hours trading, as the subscription revenue guidance boost wasn’t as large as investors were hoping for.

The company posted earnings per share of $0.94, vs. analyst estimates of $0.87 per share.

Workday recorded $2.432 billion in total revenue during the quarter, including $2.24 billion in subscription revenue. The Street was expecting total revenue to be $2.417 billion.

Its total order backlog increased 17% year over year to $25.96 billion.

For the fourth quarter ending in January, Workday expects subscription revenue of $2.35 billion. The company also updated its full-year fiscal 2026 outlook slightly, guiding for subscription revenue of $8.82 billion, representing growth of 14.4%, compared to its previous guidance of $8.81 billion.

Listen to the earnings call here.

Cloud security provider Zscaler (ZS) reported an earnings and revenue beat for its fiscal first quarter, but the stock was under pressure due to the company’s operating loss and a weaker-than-expected full-year profit outlook.

Zscaler’s net loss per share was $0.07, compared to a loss of $0.11 estimated by analysts, according to S&P Global Market Intelligence. Revenue came in at $788.1 million, an increase of 26% year over year, compared to $773.8 million estimated.

Operating losses increased year over year to $36.3 million during the quarter from $30.6 million a year ago.

For the fourth quarter, Zscaler expects to bring in revenue of $797 million to $799 million. For the full year, the company sees revenue of approximately $3.282 billion to $3.301 billion and net income per share of $3.78 to $3.82. For that last metric, Wall Street was expecting full-year earnings of $4.00 per share.

The stock dropped over 6% in after-hours trading as the earnings call got underway.

You can listen to the earnings call live here.

Dell (DELL) stock fell less than 1% in extended trading after the company slightly missed Wall Street’s revenue estimates but issued fourth quarter financial guidance above expectations.

From Reuters:

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Chinese EV maker NIO (NIO) reported it delivered 87,071 vehicles in the third quarter of 2025, marking a 40.8% increase year over year as competition in China’s EV market has intensified among NIO, XPeng (XPEV), Tesla (TSLA), and others.

Despite posting strong October deliveries and a smaller loss per share than expected, NIO shares fell more than 1% ahead of the opening bell.

NIO reported a loss per share of 1.51 yuan ($0.21) in the September quarter, a shallower loss than the 1.64 yuan ($0.23) loss per share analysts expected. The company’s revenue of 21.79 billion yuan ($3.07 billion) came in a bit lighter than estimates for 22.29 billion yuan ($3.14 billion).

“The strong momentum was driven by the all-around competitiveness of our NIO, ONVO, and FIREFLY brand offerings, which continue to resonate with users across their respective market segments,” NIO CEO William Bin Li said. “We are working closely with supply chain partners to ramp up production and expect total deliveries in the fourth quarter to reach between 120,000 and 125,000 units, reflecting a year-on-year increase of 65.1% to 72.0% and setting a new quarterly record.”

Listen to a replay of the company’s earnings call here.

Dick’s Sporting Goods (DKS) stock fell after the company reported its first quarterly results since acquiring Foot Locker.

Shares fell 2% in premarket trading after the sporting goods retailer reported GAAP earnings per diluted share of $2.07, compared to estimates of $2.71, according to S&P Global Market Intelligence.

Dick’s Sporting Goods also raised its full-year earnings guidance to a range of $14.25 to $14.55, up from $13.90 to $14.50 previously.

In the third quarter, same-store sales increased 5.7% year over year during the quarter. But the company’s cost of goods sold also rose as the company increased inventories and completed its Foot Locker acquisition.

Abercrombie & Fitch (ANF) stock surged over 18% in premarket trading after strong sales at the company’s Hollister brand lifted earnings.

The retailer reported earnings per share of $2.36, compared to analysts’ estimates of $2.16, according to S&P Global Market Intelligence. Net sales reached $1.29 billion, also above estimates for $1.27 billion.

Overall, same-store sales rose 3% year over year, driven by a 15% sales increase for the Hollister brand and a 7% sales decline for Abercrombie.

“We achieved three years of consecutive quarterly sales growth, delivering record third quarter net sales, with 7% growth to last year,” CEO Fran Horowitz said in the release. “Hollister brands grew 16% on a strong finish to back-to-school and fall seasonal transition. Abercrombie brands made sequential progress in-line with our expectations, and we are tightly managing inventory as we aim for fourth quarter brand net sales to be approximately flat to last year’s record.”

The company raised the lower end of its full-year outlook for net sales growth to a range of 6% to 7%, while net income per diluted share is expected to come in at $10.20 to $10.50. Previously, the company saw net sales growing 5% to 7% and net income in a range of $10.00 to $10.50.

From Reuters:

Read more here.

Zoom (ZM) stock bounced 3% higher in extended trading on Monday after the communications software company beat earnings expectations, raised its annual outlook, and increased its stock buyback authorization by $1 billion.

Here’s what Zoom reported for the third quarter, compared to estimates compiled by S&P Global Market Intelligence.

Zoom CEO Eric Yuan noted that customers’ adoption of the company’s AI offerings continues to expand, something investors were watching going into the report, along with AI monetization.

“Zoom is continuing to build on our vision of an AI‑first platform that helps people connect and collaborate more seamlessly,” Yuan said. “This quarter we announced AI Companion 3.0, and we’re thrilled to see AI Companion adoption grow meaningfully. We’re also seeing strong momentum with Custom AI Companion and our AI‑first Customer Experience suite, which helped make this one of our best CX quarters, with broad AI adoption across major deals.”

Zoom also raised its financial outlook slightly. The company now expects total revenue for the year between $4.852 billion and $4.857 billion, compared to its prior guidance of between $4.825 billion and $4.835 billion.

The company also raised its earnings per share guidance to a range of $5.95-$5.97 from $5.81-$5.84 previously.