After the regular session closed, several names posted notable gains and losses as investors reacted to trial readouts, quarterly reports and large cloud spending commitments.
Gainers
- Avalo Therapeutics (AVTX) - Shares soared 60% after the company reported positive Phase 2 results for its drug aimed at hidradenitis suppurativa. The clinical outcome was the clear catalyst for the stock's outsize move.
- Super Micro Computer (SMCI) - The server maker climbed 17% despite what was described as some "top-line weakness" in the quarter. Investors rewarded a stronger-than-expected bottom line and an assertive Q4 2026 outlook. Management projected Q4 2026 revenue of $11.0 billion to $12.5 billion, versus a consensus view of $11.3 billion, and forecast Q4 EPS of $0.65 to $0.79 against a consensus of $0.56.
- Advanced Micro Devices (AMD) - AMD rose 5% after delivering a quarter characterized as a "beat and raise," with both current results and guidance exceeding expectations. The company reported Q1 EPS of $1.37, beating by $0.10, and Q1 revenue of $10.25 billion, a $0.4 billion beat. AMD guided Q2 revenue to $11.2 billion versus a $10.5 billion consensus.
- Alphabet (GOOGL) - The stock was up 2% following reports that Anthropic has committed to spending roughly $200 billion with Google Cloud over the next five years, a development that underpinned demand expectations for the cloud unit.
Decliners
- Upstart Holdings (UPST) - The stock fell 13% after the company maintained its full-year revenue guidance at $1.4 billion, failing to deliver the upward revision some investors sought.
- Arista Networks (ANET) - Shares dropped 11% in what was characterized as a "sell the news" reaction. The company beat estimates but provided Q2 revenue guidance of $2.8 billion, only modestly above the $2.78 billion consensus, which the market treated as underwhelming.
- Tempus AI (TEM) - The stock declined 9% after revenue and guidance matched analysts' expectations, removing the element of surprise and prompting a sell-off as the market looked for stronger growth signals.
Product and market note
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This after-hours roundup reflects market reactions based on clinical results, quarterly earnings beats and guidance, and a large cloud spending commitment. Movements show how discrete events - clinical trial readouts, profit beats, maintained guidance, and long-term cloud agreements - can drive immediate investor responses across biotech, hardware, cloud and fintech stocks.