AMD, Paycom Software, First Solar, WeWork, Yum China, and More Stock Market Movers

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Advanced Micro Devices issues a fourth-quarter revenue forecast shy of expectations, Paycom Software shares tumble on weak guidance, and First Solar raises...

Stock futures traded slightly lower Wednesday with the Federal Reserve expected to leave interest rates unchanged at the conclusion of its two-day policy meeting.

Shares of Paycom Software plunged 34% after the provider of cloud-based human capital management software said it expects fourth-quarter revenue of $420 million to $425 million, below analysts’ estimates of $452 million. Paycom also forecast adjusted earnings before interest, taxes, depreciation and amortization of $169 million to $174 million versus expectations of $189 million.

Match Group , the parent company of online dating platforms Tinder, Hinge, and OkCupid, fell 8% after saying it anticipates fourth-quarter revenue of $855 million to $865 million, below analysts’ estimates of $894.2 million. Match also said it expected revenue growth for the full year at the low end of its guidance range.

Yum China tumbled 12% after the owner of Pizza Hut, KFC, and other fast-food brands in China reported third-quarter earnings that came up short of estimates and said it had “observed softening consumer demand.”

 

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