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Pagaya
Pagaya reported third quarter revenue of $390 million, exceeding estimates, and lifted its 2026 net income guidance to between $162 million and $182 million. The company also added two new banking partners and secured over $2 billion in committed funding.
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HotAlphabet Earnings
Alphabet shares fell 13 percent, wiping out about $500 billion in value, after quarterly free cash flow turned negative due to high AI costs. Revenue missed expectations, and the company plans an $85 billion equity raise.
HotServiceNow
ServiceNow stock experienced its largest intraday decline since 2016, dropping 22 percent on Wednesday.
HotEli Lilly
Shares of Eli Lilly climbed to a record level at the open following the company's decision to raise its earnings outlook.
HotAnalyst Ratings
Wall Street firms updated ratings after earnings, with Microsoft targets rising on Azure growth. Alphabet and Fortinet faced downgrades or target cuts due to search and product growth concerns.
HotAlphabet
Alphabet shares fell 11.4 percent after third-quarter revenue of $127.58 billion missed estimates of $128.22 billion. Search revenue also came in below expectations, and free cash flow was negative $9.07 billion.
HotAlphabet Earnings
Alphabet shares dropped about 10 percent after hours as search revenue grew 12 percent to $63 billion, missing expectations for the second consecutive quarter. Google Cloud revenue doubled to nearly $31 billion, but free cash flow fell to negative $9 billion.
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