Twitter (TWTR): The White House said reports that the Biden Administration was discussing putting Elon Musk’s ventures under a national security review were “not true.” Twitter shares moved higher in extended trading on the news. Musk has until 5pm ET Friday to close the deal or face trial.
Discover Financial Services (DFS): Shares fell in after hours trading after the credit-card issuer missed on earnings. Discover reported earnings of $3.54 per share, short of Wall Street’s estimate of $3.77 per share. Provision for credit losses was $773 million, up from $185 million a year ago. Payment Services volume was $84.1 billion during the quarter, up 10% year-over-year.
Qualtrics International (XM): The software company posted better-than-expected quarterly results and raised its full-year forecast, pushing the stock up 11% in extended trading. Total revenue for the third quarter totaled $377.5 million, up 39% from a year ago. “Our results demonstrate the durability of our business model, and the critical role Qualtrics plays for our customers, as well as the discipline our team is bringing to this moment,” Qualtrics CEO Zig Serafin wrote in the earnings release.
Cadence Design (CDNS): The company, a leader in electronic systems design, recorded third quarter profit and revenue that exceeded Wall Street estimates. Adjusted earnings were $1.06 per share on revenue of $902.6 million. CEO and President Anirudh Devgan wrote in the release that “Generational industry trends are driving continued investment by semiconductor and system companies, and our broad, differentiated portfolio positions us extremely well to help our customers accelerate their next generation innovation.”
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