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Check out the companies making headlines in midday trading: Charter Communications , Liberty Broadband — Cable operator Charter Communications agreed to acquire Liberty Broadband in an all-stock deal. Charter shares rose 5.6%, while Liberty Broadband slid 3%. Cava Group — Shares of the Mediterranean-inspired food chain popped 7% after third-quarter results came out stronger than expected. Cava’s earnings of 15 cents per share exceeded the 11 cent consensus estimate from analysts polled by LSEG, while its revenue of $244 million revenue came out above the $234 million estimate. Rocket Lab — Shares of the space infrastructure company soared 35% after Rocket Lab posted third-quarter revenue of $104.8 million, which exceeded analysts’ expectations and reflected a 55% increase from the same period a year ago. The company also announced the first customer for its Neutron vehicle and forecast revenue for its fourth quarter in a range above what analysts had predicted. Maplebear — Shares tumbled 12% after the parent of Instacart issued fourth-quarter adjusted earnings before interest, taxes, depreciation and amortization guidance that was below the Street’s estimates, according to FactSet. On the other hand, Maplebear beat analysts’ third-quarter expectations on both the top and bottom lines. Skyworks Solutions — The semiconductor stock pulled back 4% after Skyworks Solutions posted weaker-than-expected guidance for its fiscal first quarter. The company sees revenue for the period ranging between $1.05 billion and $1.08 billion, while analysts polled by FactSet sought $1.09 billion. Flutter Entertainment — Shares of the online gambling company rose 6% after a stronger-than-expected report for the third quarter. Flutter generated an adjusted 43 cents per share on $3.25 billion of revenue. Analysts surveyed by LSEG had estimated 10 cents per share and $3.07 billion of revenue. Flutter said revenue for its U.S. arm , which includes FanDuel, was up 51% year over year. Spotify Technology — Shares of the music streaming platform gained 11% after Spotify’s fourth-quarter profit forecast exceeded analysts’ estimates. The company’s monthly active users in the third quarter also came out strong, totaling about 640 million, or up 11% from a year earlier and above the 639 million analysts had forecast, according to FactSet. Spotify’s third-quarter earnings and revenue trailed expectations, however. Rivian Automotive — Shares popped about 18% after the automaker announced a joint venture with Volkswagen Group in a deal worth $5.8 billion, with the first Volkswagen models to use Rivian’s software and electrical architecture potentially arriving as early as 2027. Amgen — Shares gained 1% after the drugmaker said it did not see a link between the use of MariTide , its experimental weight loss injection, and changes in bone mineral density. Amgen lost 7% in the previous session after analysts cited additional data from an early-stage trial that showed the highest dose of MariTide was linked to a loss of bone mineral density. SoundHound AI — The voice recognition stock plunged about 17%. SoundHound issued revenue guidance for 2024 of $82 million to $85 million, while analysts polled by FactSet sought $82.6 million. The company posted a third-quarter adjusted loss of 4 cents per share, compared to the Street’s expectation for a loss of 7 cents per share. Spirit Airlines — Shares cratered 57% after The Wall Street Journal reported that the budget airline could file for bankruptcy within weeks following failed merger talks with competitor Frontier Group Holdings. — CNBC’s Sarah Min, Alex Harring, Samantha Subin, Jesse Pound, Yun Li, Lisa Kailai Han and Michelle Fox contributed reporting.
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