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Arista, Lattice, Pinterest, Wolfspeed, BP, AB InBev, and More Stock Market Movers

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Arista Networks' third-quarter adjusted earnings easily topped estimates, Lattice Semiconductor issues a weak revenue forecast, and Pinterest posts a profit...

Stock futures pointed to a mostly weaker start for Wall Street on Tuesday after equities surged Monday, with the Dow Jones Industrial Average gaining more than 500 points, and the S&P 500 rising 1.2%. Weaker data on Chinese manufacturing and continued tensions in the Middle East dented sentiment.Arista Networks rose 9.8% in premarket trading after the networking-equipment provider reported adjusted earnings in the third quarter of $1.83 a share, better than analysts’ estimates of $1.58.

Pinterest reported third-quarter adjusted earnings of 28 cents a share, topping Wall Street estimates of 21 cents. Revenue of $763.2 million was up 11% from a year earlier and also was better than forecasts. The social-media site said it expects fourth-quarter revenue to increase between 11% and 13%. Shares rose 15% in premarket trading.

VF Corp. missed fiscal second-quarter earnings estimates and pulled its guidance for fiscal 2024, saying that efforts to turn around sales of its Vans brand have been faltering. The stock fell 7.4%. Anheuser-Busch InBev maintained its full-year guidance despite a hit to U.S. sales as some drinkers boycotted Bud Light. Revenue in the U.S. declined by 14% in the third quarter as AB InBev’s flagship American brand Bud Light faced facing a conservative boycott over its marketing partnership with transgender influencer Dylan Mulvaney. American depositary receipts of AB InBev rose 3.7%.

 

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