After-hours movers: Airbnb, Super Micro, Lumen, Upstart and more

After-Hours Stock Movers:

Airbnb (NASDAQ: ABNB) fell 15% after it reported mixed results for the second quarter and issued disappointing guidance due to expectations regarding moderation in the growth rate next quarter.

Super Micro Computer (NASDAQ: SMCI) initially rose 5% despite reporting lower profit in the second quarter than expected. This was offset by expectations for a large increase in yearly revenue and plans for a 10-for-1 forward split of its common stock. Shares were choppy afterhours, later falling 4%.

Lumen Technologies (NYSE: LUMN) rose 70% after is raised its full year guidance for free cash flow from $100 to $300 million to $1.0 to $1.2 billion.

Upstart Holdings (NASDAQ: UPST) rose 20% after it reported a smaller lose than expected during the quarter and better revenue, along with strong revenue guidance.

Reddit (NYSE: RDDT) fell 5% despite betting estimates and raising guidance. Expectations may have been elevated heading into the print.

Instacart (NASDAQ: CART) rose 7% after it published strong second quarter results, beating on revenue and operating profit. It guidance for operating profit also topped views.

Rivian Automotive (NASDAQ: RIVN) fell 2% after it reported mixed results for the second quarter, missing on the bottom line despite solid revenue. The EV manufacturer also maintained its guidance for the year.

Fortinet (NASDAQ: FTNT) rose 14% after publishing stronger than expected second quarter guidance and issuing a solid forecast for the third quarter and full year.

Sunrun (NASDAQ: RUN) rose 7% after it announced it has expanded its support for the energy grid in Texas with a partnership with Tesla Electric.

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