Check out the companies that made headlines before the bell: Cava — The fast-casual restaurant chain soared nearly 19% after third-quarter results beat analysts’ expectations . Earnings per share of 15 cents beat the consensus estimate of 11 cents from analysts compiled by LSEG, and sales of $244 million beat expectations of $234 million. EchoStar — EchoStar fell 1% after reporting earnings that disappointed investors. DirecTV’s proposed acquisition of EchoStar subsidiary Dish likely fell through after a group of bondholders rejected the proposed debt offer. Spotify — The music streaming platform rose 8% after its fourth-quarter profit forecast beat analysts’ expectations. According to FactSet, Spotify had about 640 million monthly active users in the third quarter, an 11% increase from the same period last year and higher than analysts expected of 639 million. However, Spotify’s third-quarter profit and revenue were lower than expected. Skyworks Solutions — Shares fell 6% after the semiconductor company’s first-quarter financial outlook was lighter than analysts expected. Nevertheless, Skyworks’ third-quarter profit beat analysts’ expectations and revenue was in line with expectations. Maplebear — The owner of Instacart’s grocery delivery business fell 6% after its fourth-quarter adjusted EBITDA outlook fell short of analysts’ expectations, according to FactSet. Meanwhile, Maple Bear reported third-quarter profits and sales that both exceeded analysts’ expectations. Rivian Automotive — Shares soared 7% after the electric car maker announced a joint venture with Volkswagen Group in a deal worth $5.8 billion. The first Volkswagen models using Rivian’s software and electrical architecture could arrive as early as 2027. Rocket Lab — The satellite company’s stock soared about 25% after reporting strong third-quarter results and announcing its first customer for its Neutron vehicle. LSEG said quarterly revenue was $104.8 million, beating analysts’ expectations of $102 million. The company also expected fourth-quarter sales to be in a range above analyst expectations. Flutter Entertainment — The online gambling company posted third-quarter adjusted earnings of 43 cents per share, beating analysts surveyed by LSEG’s estimate of 10 cents, and soared 5%. Flutter’s $3.25 billion in revenue also exceeded the estimated $3.07 billion. Rocket Companies — 12% decline as the housing finance company expected fourth-quarter revenue of $1.05 billion to $1.2 billion, compared to analyst expectations of $1.36 billion, according to LSEG did. Meanwhile, Rocket’s third-quarter sales were $1.32 billion, beating analysts’ estimates of $1.29 billion, and earnings per share were 8 cents, in line with expectations. SoundHound AI — The voice recognition stock fell 6%, according to LSEG, despite higher-than-expected fourth-quarter revenue and a smaller quarterly loss than analysts expected. SoundHound also guided its fiscal 2024 and fiscal 2025 revenue ranges to be in line with street expectations. Amgen — The drugmaker added 2% after saying it found no link between administering its experimental weight-loss injection Maritide and changes in bone density. Amgen fell 7% on Tuesday after Wall Street analysts said additional data from an early-stage trial showed the highest doses of Maritide were associated with decreased bone density. Spirit Airlines — Shares soar after the Wall Street Journal reported that the low-cost carrier may file for bankruptcy within weeks following failed merger talks with rival Frontier Group Holdings. It plummeted by nearly 67%. Spirit announced Tuesday that it is in talks with creditors to increase liquidity. STARBUCKS — The coffee house chain fell more than 1% after Redburn Atlantic downgraded the stock to sell, citing potential for further declines. The struggling stock has underperformed this year, gaining 2.9% compared to the S&P 500’s more than 25% gain. —CNBC’s Michelle Fox, Alex Harring, Sarah Ming and Pia Singh contributed reporting.
