markets

Max Knoblauch11/5/25

Lucid dips as it lowers its full-year production forecast

Shares of Lucid are down more than 4% in after-hours trading on Wednesday following the luxury EV maker’s third-quarter earnings results.

Lucid, which delivered 47% more vehicles in Q3 than in the same period last year, posted an adjusted loss per share of $2.65, compared to the $2.29 loss per share Wall Street analysts polled by FactSet expected.

The company also:

Booked $336.6 million in revenue, up 68% from last year but below the consensus estimate of $349.5 million.
Updated its full-year production outlook to 18,000 vehicles, the bottom of its previous range of between 18,000 and 20,000 vehicles. Wall Street expected the company to build 18,940 vehicles on the year.

Lucid shares sold off heavily during Q3 as the company executed a 1-for-10 reverse stock split that took effect in early September. The stock remains lower compared to its highs earlier this year and is down more than 40% year to date as of Wednesday’s close. That’s significantly underperforming larger rivals like Rivian and Tesla.

Note on 11/12/25: An earlier version of this article mistakenly said revenue came in above consensus. The article has been updated to reflect that it was below consensus.

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Matt Phillips9h

Cisco beats expectations for Q2 sales and EPS; Q3 margin forecast is light

Cisco beat Wall Street expectations for sales and earnings in its fiscal second-quarter results, which it released after the close of trading Wednesday.

Shares slid 7% in the after-hours session. A lighter-than-expected forecast for fiscal third-quarter profit margins may have played a role.

For the fiscal second quarter of 2026, the computer networking equipment giant reported:

Non-GAAP earnings per share of $1.04 vs. the $1.02 expected by Wall Street analysts, according to FactSet.
Sales of $15.35 billion vs. the $15.11 billion consensus expectation.
AI infrastructure orders from hyperscalers of $2.1 billion vs. $1.3 billion in the previous quarter.
Revenue guidance for fiscal Q3 of between $15.4 billion and $15.6 billion vs. $15.19 billion consensus estimate.
Adjusted gross margin guidance for fiscal Q3 of 65.5% to 66.5%, compared with analysts’ forecasts for 68.2%.
Fiscal year 2026 sales guidance of $61.2 billion to $61.7 billion vs. previous guidance of between $60.2 billion and $61.0 billion.

Along with other companies like Lumentum, Corning, and new S&P 500 member Ciena, which provide things like the wiring and networking equipment needed to connect server racks, Cisco shares have had a strong start to 2026 as the AI data center boom continues to roll.

Through the end of trading on Wednesday they were up 11% for the year, compared to a 1.4% gain for the S&P 500.

This is a developing story.

markets

J. Edward Moreno9h

McDonald’s Q4 earnings, sales beat Wall Street estimates

McDonald’s reported Q4 results on Wednesday that beat Wall Street’s expectations, which the company attributes to its “value leadership.”

For the last three months of 2025, the fast-food giant reported:

Adjusted earnings per share of $3.12, compared to the $3.05 analysts polled by FactSet were expecting.
Revenue of $7 billion, higher than the $6.8 billion analysts were penciling in.
Global comparable-store sales growth of 5.7%, compared to the 3.9% growth analysts were expecting. In the US, comparable sales grew 6.8% versus the 5.4% that was expected. The company said this was “driven by positive check and guest count growth primarily from successful marketing promotions.”

McDonald’s has emphasized discounts and promotions, such as its $5 meal deals. “McDonald’s value leadership is working,” CEO Chris Kempczinski said in a statement.

Shares were little changed in after-hours trading.

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Tasha Matsumoto

Stocks finish flat after blockbuster jobs report

Employers added 130,000 jobs last month, crushing estimates for 65,000.

BISHOP'S STORTFORD, ENGLAND - JANUARY 25: Snowfall in the Essex countryside on January 25, 2021 in Bishop's Stortford, Essex, United Kingdom.

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