Copyright Benzinga
The U.S. stock market experienced a downturn on Tuesday, following mixed movements on Monday. Futures of major indices, including the S&P 500 and Nasdaq, were in the red. Concerns over a potential AI bubble have intensified, with notable investor Michael Burry making significant put option bets against Nvidia Corp. and Palantir Technologies Inc. . Meanwhile, the U.S. Government shutdown has extended to its 34th day, raising alarms about its economic impact. Major U.S. indices closed lower, with the Dow Jones Industrial Average down 0.5% to 47,085.24, the S&P 500 falling 1.2% to 6,771.55, and the Nasdaq dropping 2.04% to 23,348.63. These are the top stocks that gained the attention of retail traders and investors through the day: Advanced Micro Devices Inc. (NASDAQ:AMD) AMD shares fell 3.70% to close at $250.05, with an intraday high of $257.38 and a low of $247.39. The stock’s 52-week range is $76.48 to $267.08. In the after-hours trading, the stock fell 4.7% to $238.20. AMD reported third-quarter revenue of $9.25 billion, surpassing analyst expectations of $8.74 billion. The company’s adjusted earnings per share came in at $1.20, exceeding estimates of $1.16, driven by growth in its AI data center business. Lisa Su, chair and CEO of AMD, said the company delivered an “outstanding quarter, with record revenue and profitability.” Super Micro Computer, Inc. (NASDAQ:SMCI) Super Micro Computer stock dropped 6.40% to $47.50, with a high of $49.43 and a low of $46.86. The 52-week range is $17.25 to $66.44. The stock declined 9.5% to $42.99 in the after-hours session. After releasing its first-quarter earnings, Super Micro Computer missed estimates, reporting earnings of 35 cents per share against the expected 40 cents, leading to the stock’s decline. The company reported quarterly revenue of $5.01 billion, missing analyst estimates of $5.99 billion and declining from $5.93 billion a year earlier. Upstart Holdings, Inc. (NASDAQ:UPST) Upstart Holdings’ shares slid 2.73% to $46.24, reaching a high of $47.41 and a low of $45.31. The stock’s 52-week range is $31.4 to $96.43. The stock plumetted 15.3% to $39.15 in extended trading. Upstart reported mixed third-quarter results, with earnings of 52 cents per share beating the Street’s estimate of 42 cents, though revenue fell short of expectations. Upstart projected fourth-quarter revenue of $288 million, below the $303.61 million analyst estimate, and cut its fiscal 2025 revenue outlook to $1.03 billion from $1.05 billion. Pinterest Inc. (NYSE:PINS) Pinterest shares decreased by 2.39% to $32.91, with an intraday high of $33.35 and a low of $32.50. The 52-week range is $23.68 to $40.90. In the after-hours trading, the stock dropped sharply by 20.09% to $26.30. Pinterest reported third-quarter revenue of $1.05 billion, aligning with analyst estimates, but its adjusted earnings of 38 cents per share missed the expected 42 cents, impacting the stock negatively. Bill Ready, CEO of Pinterest said the company’s investments in AI and product innovation were “paying off.” Pinterest forecast fourth-quarter revenue between $1.31 billion and $1.34 billion, compared with estimates of $1.34 billion, and expected adjusted EBITDA of $533 million to $558 million. Rivian Automotive (NASDAQ:RIVN) Rivian’s stock fell 5.23% to $12.50, with a high of $12.98 and a low of $12.39. The 52-week range is $9.50 to $17.14. Rivian shares gained 3.2% to $12.90 in extended trading. Rivian reported third-quarter results, highlighting a revenue beat and significant progress on its R2 model, which is on track for a 2026 release. Rivian reported revenue of $1.56 billion, up 78% year-over-year and above the $1.50 billion estimate. Automotive revenue rose 47% to $1.14 billion, while software and services revenue surged 324% to $416 million. The company posted a loss of 96 cents per share, missing the expected loss of 85 cents. Benzinga’s Edge Stock Rankings indicate Rivian has a Momentum in the 58th percentile. Here is how the stock ranks against EV players like Tesla. Prepare for the day’s trading with top premarket movers and news by Benzinga. Photo Courtesy: Miha Creative on Shutterstock.com Read Next: Trump’s Trade Deal With China Could Send This Amazon Rival Soaring: Big Spike In Growth Metrics
