After-Hours Stock Movers:
Spotify (NYSE:SPOT) rose 8% after issuing a solid forecast for the year, along with strong subscriber data.
SoundHound AI (NASDAQ:SOUN) was choppy after it issued third quarter results and guidance. SoundHound expects its full year 2024 revenue to be in a range of $82 – $85 million and its full year 2025 revenue outlook to be in a range of $155 – $175 million.
Rivian Automotive (NASDAQ: NASDAQ:RIVN) rose 3.7% after it and Volkswagen Group (VWAGY (OTC:VWAGY)) entered into a transaction agreement to create their new joint venture.
CAVA Group (CAVA) rose 17% after it reported same restaurant sales growth of 18.1% in the third quarter.
ZoomInfo Technologies (ZI) fell 5% despite issuing quarterly results that beat consensus, but performance that was generally lackluster relative to elevated expectation.
Rocket Companies (RKT) fell 10% after it warned that revenue in the final quarter of the year would misses estimates.
Instacart (NASDAQ:CART) fell 4% after it issued guidance for operating profit that trailed estimates.
Rocket Lab USA (NASDAQ: RKLB) rose 20% after it beat Q3 estimates and raised guidance. Revenue grew 55% year-on-year to $105 million. It sees revenue between $125 million and $135 million in Q4.
