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Check out the companies making headlines in afternoon trading. Upstart Holdings — Shares in the artificial intelligence lending platform fell more than 26% after missing third-quarter revenue and profit expectations. The company reported an adjusted loss of 5 cents per share on revenue of $134.5 million, while analysts polled by FactSet reported a loss of 2 cents on revenue of $139.6 million. Biogen – Shares of the biotech company fell more than 4% after third-quarter revenue and profit exceeded analyst expectations. However, the maker of Tysabri for multiple sclerosis has lowered its annual profit forecast due to costs related to Alzheimer’s treatment Leqembi and its acquisition of Reata Pharmaceuticals last month. Occidental Petroleum – Shares of the Houston-based energy producer – 22% owned by Buffett’s Berkshire Hathaway – rose more than 2% after quarterly profits beat analysts’ expectations. Occidental reported earnings of $1.18 per share on strong oil production, higher than the consensus estimate of 84 cents per share, according to LSEG, formerly known as Refinitiv. Rivian – Shares of the electric vehicle maker fell more than 4% after analysts remained neutral in their investment advice, despite Rivian posting a smaller-than-expected loss in the latest quarter. Rivian also gave an optimistic forecast for the full year, raising its production forecast by 2,000 units to 54,000. Roblox – Shares rose nearly 18% after third-quarter results beat Wall Street estimates. Roblox reported a loss of 45 cents per share on revenue of $839.5 million, while analysts surveyed by LSEG forecast a loss of 51 cents on revenue of $830 million. Toast – Shares of the restaurant-focused tech company fell 17% after Toast reported an unexpected third-quarter loss. Boston-based Toast lost 9 cents per share, while analysts had expected a profit of 10 cents per share, according to LSEG. Gross payment volume was fractionally below estimates, StreetAccount said. Robinhood – The trading platform fell more than 14% after missing revenue estimates in the third quarter. According to LSEG, Robinhood posted $467 million this quarter, lower than analyst expectations of $478 million. Warner Bros. Discovery – The media conglomerate’s stock fell more than 16% after parent HBO and Food Network reported a bigger-than-expected loss in the third quarter. Warner Bros. posted an adjusted loss of 17 cents per share on revenue of $9.97 billion, while analysts surveyed by LSEG forecast a loss of 6 cents on revenue of $9.98 billion. Lyft, Uber – Shares of Lyft fell 0.6% in the afternoon, ahead of the ride-sharing company’s quarterly results due after the close on Wednesday. Uber fell nearly 1% after the company posted third-quarter results that missed revenue and profit expectations. eBay — The online marketplace warned of soft revenues in the current quarter and for the full year. In the third quarter, eBay exceeded the consensus forecast of analysts surveyed by LSEG for earnings per share, while revenue was in line with the consensus estimate. – CNBC’s Jesse Pound, Yun Li, Pia Singh, Alex Harring, Lisa Han, Tanaya Macheel and Sarah Min contributed reporting.
