Biggest stock movers Friday:

Stock futures edged slightly higher Friday morning, following record highs for the Nasdaq and S&P after the Federal Reserve cut interest rates by 25 basis points to a range of 4.50%-4.75%.

Here are some of Friday’s biggest stock movers:

Biggest stock gainers

• Upstart Holdings (UPST) surged over 22% after beating Q3 estimates and providing strong Q4 guidance. The AI-driven lending platform reported positive EBITDA a quarter earlier than expected, and it forecasts Q4 revenue at $180M (above the $162.3M consensus), with $185M from fees and -$5M from net interest income. Q4 contribution margin is anticipated to be at 59%, slightly down from 61% in Q3. Adjusted EBITDA guidance for Q4 is around $5M, compared to $1.4M in Q3 and a $7.3M consensus. CEO Dave Girouard highlighted the company’s 43% growth in lending volume and return to positive EBITDA as signs of renewed growth momentum.

Biggest stock losers

• Despite exceeding Q3 expectations, Pinterest (PINS) shares tumbled over 12% due to a disappointing outlook. The company projected Q4 revenue of $1.125B-$1.145B, with the midpoint falling below the consensus of $1.14B. Pinterest also expects operating expenses (excluding cost of revenue) to increase by 11%-14% in Q4, reaching $495M-$510M.
• Airbnb (ABNB) shares fell nearly 5% following a mixed Q3 report. While the company reported a 10% Y/Y revenue growth driven by increased nights stayed and average daily rates, net income fell significantly to $1.37B from $4.37B in the prior year, due to a one-time tax adjustment. Adjusted EBITDA rose 7% to $1.96B, though the adjusted EBITDA margin slipped by two percentage points to 52%. Airbnb remains optimistic about Q4, citing strong demand across key markets and expecting revenue of $2.39B-$2.44B, reflecting 8-10% Y/Y growth.
• Akamai Technologies (AKAM) shares slipped around 6% after the company lowered its full-year revenue and profit guidance despite reporting in-line Q3 results. The cybersecurity and cloud computing firm now expects full-year revenue of $3.966B-$3.991B, down from its previous forecast of $3.97B-$4.01B, with the midpoint of $3.98B falling short of the $4B consensus estimate. Akamai also reduced its adjusted EPS guidance to $6.31-$6.38, below the previous range of $6.34-$6.47 and short of the $6.43 consensus.