A look at the companies making headlines before the bell

However, Advanced Micro Devices beat expectations for both its third-quarter earnings and revenue.

McDonald's – Shares fell 1% after the fast-food chain reported adjusted earnings of $3.22 per share for the third quarter, below the $3.33 expected by analysts surveyed by LSEG. The company's revenue of $7.08 billion also fell short of the consensus estimate of $7.1 billion.

Arista Networks – The cloud networking company fell 11% after expecting fourth-quarter revenue to be between $2.3 billion and $2.4 billion, including the $2.33 billion expected by analysts surveyed by FactSet. Arista reported profits on both the top and bottom lines in the third quarter.

Cava — Shares of the company fell 8% after the fast-casual restaurant company revised its full-year same-store sales forecast to between 3% and 4%, down from its prior estimate of 4% to 6%. The company also lowered its restaurant-level profit margin to 25.2% from 24.8%, down from 24.4%.

Teradata — Shares rose 14% after the cloud data company reported third-quarter adjusted earnings of 72 cents per share and revenue of $416 million. This exceeded FactSet's earnings and revenue forecasts of 54 cents and $406.3 million, respectively. The company's full-year revenue is also now on the rise.

Lumentum — The telecom stock surged 17% after its fiscal first-quarter earnings and revenue beat Wall Street forecasts. According to FactSet, Lumentum also shared earnings and revenue guidance for its second quarter, which exceeded analysts' expectations. Zeta Global – The marketing stock rose 12% due to an increase in adjusted EBITDA and revenue in the third quarter. The company also shared forward adjusted EBITDA and revenue guidance for its current quarter, fiscal 2025, and fiscal 2026, which exceeded FactSet's expectations.

Pinterest – Shares of the social media company fell more than 17% due to lower-than-expected earnings. Pinterest reported a profit of 38 cents per share, excluding certain items, while analysts surveyed by LSEG had expected earnings of 42 cents per share.

Super Micro Computer – Shares fell 8% after the company announced first-quarter financial results that fell short of expectations. The company earned an adjusted profit of 35 cents per share on revenue of $5.02 billion. Analysts surveyed by LSEG had expected a profit of 40 cents per share on revenue of $6 billion.

Kennedy-Wilson — Shares of this property management company surged 24% after receiving an acquisition offer from Chairman and CEO William McMorrow and Fairfax Financial for $10.25 per share in cash. This represents a 37.2% increase from Tuesday's closing price.

Upstart Holdings — Shares fell more than 13% after the company reported third-quarter revenue of $277.1 million, which was below expectations. However, quarterly earnings exceeded estimates. Additionally, the company lowered its full-year revenue forecast. Its fourth-quarter revenue and adjusted EBITDA estimates also fell.

Trex — Shares of the decking and railing products manufacturer fell 34% after it cut its full-year sales forecast due to weak demand. Trex expects full-year net sales to be between $1.15 billion and $1.16 billion, comparable to 2024 reported sales, compared to its previous estimate of 5% to 7% growth. Analysts surveyed by FactSet had predicted 6.7% growth. The company's third-quarter adjusted earnings and revenue also disappointed.

Kratos Defense & Security Solutions – Aerospace and defense stocks fell 10% after fourth-quarter adjusted EBITDA and revenue guidance fell below analyst expectations, according to FactSet. Kratos also expects its first-quarter revenue to fall below consensus. However, the company reported better earnings and revenue in the third quarter.

Axon Enterprise – Shares of the Taser maker fell 18% after a sharp decline. Axon reported third-quarter earnings of $1.17 per share, excluding certain items. Analysts surveyed by LSEG had expected a profit of $1.52 per share. Adjusted EBITDA guidance for the fourth quarter.

VeraCyte – Shares rose 13% after the diagnostics company reported adjusted third-quarter earnings of 51 cents, higher than the 32 cents expected by analysts surveyed by FactSet. Its revenue of $131.9 million also exceeded the consensus estimate of $125 million. VeraCyte also raised its full-year revenue forecast.

Bio-Techne – Shares of this life sciences company fell 9% after the company reported revenue of $286.6 million in its fiscal first quarter, lower than analysts surveyed by FactSet.