Let’s check out the companies that are becoming a hot topic for after-hours trading. Netflix — The streamer fell more than 4% after missing Wall Street’s revenue expectations. For the third quarter, Netflix reported earnings of $5.87 per share. Analysts polled by LSEG had expected earnings of $6.97 per share. The company’s revenue for the period was $11.51 billion, in line with analyst expectations. Netflix blamed its weaker-than-expected results on an ongoing dispute with Brazil’s tax authorities. Western Alliance — The regional bank rose more than 3% after reporting better-than-expected third-quarter profits. Western Alliance earned $2.28 per share on revenue of $938 million. Analyst estimates compiled by LSEG were for sales of $890 million and earnings per share of $2.09. Provision for losses was $80 million, higher than StreetAccount estimates of $42 million. DraftKings — Gambling stocks rose about 6.7% after DraftKings announced it would acquire prediction platform Railbird. Texas Instruments — The semiconductor maker fell more than 5% after disappointing earnings and a weak quarterly outlook. The company’s earnings were $1.48 per share, below LSEG’s estimate of $1.49 per share. Fourth-quarter earnings guidance ranged from $1.13 to $1.39 per share, below consensus of $1.41 per share. Beyond Meat — The food company’s stock rose more than 10% in after-hours trading, bringing the stock’s price gain to 146% on Tuesday. Beyond Meat shares soared in regular trading after the company announced a deal with Walmart to expand distribution of its products in more U.S. stores. Shares also soared on Monday after Roundhill Investments, which develops themed exchange-traded funds, added the company to its Roundhill Meme Stock ETF. The addition of ETFs appears to have led to a short squeeze, forcing investors who had bet against stocks to cover their positions. Intuitive Surgical — The company, which makes robotic-assisted surgical systems, soared nearly 22%. Intuitive Surgical reported better-than-expected third-quarter results. Adjusted earnings per share were $2.40, and sales were $2.51 billion. Analyst estimates compiled by LSEG were for earnings of $1.98 per share and revenue of $2.4 billion. Mattel — The toy maker fell 7% after reporting weaker-than-expected third-quarter results. Mattel posted adjusted earnings of 89 cents per share on revenue of $1.74 billion. Analysts surveyed by LSEG expected earnings of $1.07 per share and revenue of $1.83 billion. Pegasystems — Software shares soared about 7% after the company’s third-quarter results beat Wall Street expectations. Pegasystems reported adjusted earnings of 30 cents per share, beating the 20 cents per share expected by analysts surveyed by LSEG. The company’s revenue was $381 million, also beating the consensus estimate of $345 million. Capital One — The financial services company’s stock rose 3% on strong results. Capital One reported earnings per share of $5.95 and revenue of $15.36 billion. Meanwhile, analysts had expected LSEG to report earnings per share of $4.37 and revenue of $15.08 billion. —Fred Imbert, Sean Conlon and Liz Napolitano contributed to this article.
