Earnings Lift Five Stocks 14%+ During Nasdaq's 5.52% Selloff

On Thursday, five US equities climbed by between 14% and 31% during regular trading or in after-hours activity, each supported by recent earnings results, while the Nasdaq composite tumbled 5.52%.

The Nasdaq slide wiped out the Dow's gains since the election, driven by worries that a Democratic victory might curb investment in data centers. Nvidia dropped 9% and Broadcom lost 10%. Cloudflare declined 8.3% during the regular trading day ahead of its earnings release.

Which Stocks Gained as the Nasdaq Sold Off?

AppLovin (APP), which provides mobile advertising software, ended the regular session 31.04% higher at $356.10, according to Yahoo. Its third-quarter revenue increased 55% to $2.18 billion.

The company's forecast for fourth-quarter revenue, ranging from $2.365 billion to $2.395 billion, exceeded the $2.25 billion analyst consensus.

In after-hours trading as of 5:01 p.m. ET, the stock eased 2.27% to $348.00.

Warby Parker (WRBY), an eyewear company, gained 22.55% as its revenue grew 10.4% to $244.7 million. Additionally, it plans to begin pre-orders on November 12 for its debut smart glasses, developed with Google and Samsung.

EPAM Systems (EPAM), an IT services firm, rose 21.55% after boosting its share buyback authorization by $1.5 billion.

According to an SEC filing, the company plans to start a $500 million accelerated buyback in the week beginning November 9. Revenue increased 2.3% to $1.426 billion, while adjusted earnings per share rose 14% to $3.51.

Are After-Hours Gains Sustainable?

Cloudflare (NET), which focuses on internet security and infrastructure, surged at least 14% in after-hours trading, CNBC reported. The company posted third-quarter revenue growth of 39% to $782.5 million, marking its quickest expansion in close to four years, per Cloudflare.

Its fourth-quarter revenue forecast of $845 million to $846 million topped the $798 million analyst average.

JFrog (FROG), a software supply chain company, jumped 25% after lifting its full-year guidance. The firm now anticipates adjusted earnings per share of $1.14 to $1.16, according to JFrog, compared with the 98 cents FactSet analysts had projected.

The connecting element was that each stock reported company-specific developments just as concerns over the midterm elections and AI spending weighed on the broader market. AppLovin's decline in after-hours trading illustrates that gains made during the regular session do not always persist into the late session.