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Teradyne soars on strong results and outlook, company sees Q4 adjusted EPS guidance of $1.20 to $1.46

Teradyne is up more than 15% in premarket trading on Wednesday after the semiconductor manufacturing company reported better-than-expected Q3 results and bumped its outlook for the rest of the year.

Revenue for the latest quarter came in at $769 million, surpassing analysts’ expectations for $745 million (estimates compiled by Bloomberg), driven by strong sales from its Semiconductor Test division.

“Growth was driven primarily by System-on-a-Chip (SOC) solutions for artificial intelligence applications and strong performance in memory. As we look ahead to Q4, AI-related test demand remains robust across compute, networking and memory segments,” CEO Greg Smith said in the press release.

The company now expects adjusted earnings per share in the fourth quarter to fall between $1.20 and $1.46, way ahead of analyst estimates for $1.05, driven by strong AI-related test demand. Revenue is expected to come in between $920 million and $1 billion.

The outlook “implies the highest revenue on a quarterly basis for the company since 2Q21,” per JPMorgan analysis cited by Bloomberg, which added that the “key focus of investors would be the sustainability of the high levels of demand implied in the 4Q25 guide.”

The company also named Michelle Turner as its new CFO on Tuesday, effective November 3, as its current CFO, Sanjay Mehta, prepares for retirement.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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