ewsba.se
CoreWeave surged in premarket trading Wednesday, as investors breathed a sigh of relief after the struggling neocloud reported better-than-expected third quarter results.
Nvidia also rose as the chipmaker tries to recover from steep back-to-back losses.
Follow below as CNBC covers the biggest stock market moves of the day.
NextNav, the ground-based backup for GPS, climbed 9%. Third-quarter revenue nearly doubled from the same period a year ago, while the quarterly loss narrowed to 4 cents a share from 12 cents last year. Cash, cash equivalents and short-term investments on hand rose to $264.1 million on Sept. 30 from $152.1 million on Dec. 31, the company said.
Based in Reston, Virginia, NextNav is down 50% in 2026 and has a market value of about $1.5 billion, according to FactSet data.
Nvidia jumped 5%, recovering some of the sharp losses seen earlier this week after CEO Jensen Huang confirmed he had an affair with an alleged Chinese spy. The chipmaker entered Wednesday's session down nearly 10% week to date.
CoreWeave shares surged 13% after the neocloud company reported third-quarter revenue that exceeded analyst expectations along with a smaller-than-expected loss.
The company's top line came in at $3.66 billion, marking a 168% surge from the year-earlier period. Analysts polled by LSEG expected revenue of $3.55 billion. CoreWeave also hiked its full-year revenue outlook.