Here’s a look at the companies making headlines over the long haul: Airbnb — The online booking company’s second-quarter profit fell short of Wall Street expectations, sending its shares tumbling 13%. Airbnb reported earnings of 86 cents per share, while analysts polled by LSEG expected earnings of 92 cents per share. The company also said it was seeing signs of slowing demand from U.S. customers. Reddit — Shares of the company fell 2% despite its second-quarter results beating Wall Street expectations on both revenue and profit. The social news company reported a better-than-expected daily active user metric. Reddit also released a third-quarter revenue forecast of $290 million to $310 million, while analysts surveyed by LSEG expected $279 million. Wynn Resorts — The resort and casino operator’s shares rose 2% despite disappointing second-quarter results. Wynn reported adjusted earnings of $1.12 per share on revenue of $1.73 billion, while analysts polled by LSEG estimated earnings of $1.14 per share on revenue of $1.75 billion. Rivian Automotive — Shares fell more than 2% after the company reiterated its guidance for a 2024 adjusted EBITDA loss of $2.7 billion. In the second quarter, Rivian reported an adjusted loss of $1.13 per share on revenue of $1.16 billion, below expectations, while analysts polled by LSEG forecast a loss of $1.21 per share on revenue of $1.14 billion. Shares of server company Advanced Micro Computer fell nearly 7%. AMD’s fiscal fourth-quarter adjusted earnings were $6.25 per share, compared with analysts’ forecasts of $8.07 per share, according to LSEG. The company also announced a 10-for-1 stock split. Lumen Technologies — Shares of the telecommunications company soared more than 77%. Lumen’s second-quarter revenue was $3.27 billion, beating Wall Street expectations. Analysts polled by London Stock Exchange Group (LSEG) expected revenue of $3.25 billion. Instacart – Second-quarter revenue and profit beat expectations, sending the grocery delivery company’s shares up 7%. Instacart earned 20 cents a share on revenue of $823 million, beating analysts’ expectations polled by LSEG for earnings of 13 cents a share on revenue of $807 million. Tripadvisor – Shares fell more than 11% after second-quarter revenue fell short of expectations. The booking company posted revenue of $497 million, while analysts polled by LSEG forecast revenue of $505 million. Adjusted earnings per share were 39 cents, beating estimates of 37 cents.
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