Check out the companies making headlines in midday trading. Reddit – Shares soared 41% after the social media company reported a blockbuster third-quarter report . Reddit reported earnings of 16 cents per share, while analysts surveyed by LSEG had expected a loss of 7 cents. The company's $348.4 million revenue also exceeded consensus estimates of $312.8 million. Reddit guided fourth-quarter revenue and adjusted earnings that beat the average analyst estimate.
Chipotle also missed expectations for same-store sales, seeing a 6% increase in the period compared to the 6.3% growth that analysts polled by StreetAccount were expecting. Alphabet – The search giant's stock gained more than 5% following the Google parent's stronger-than-expected third-quarter earnings . The company also saw strong cloud revenue growth for the period, notching nearly 35% gains from the prior-year period.
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