24H | Fastly Soars 35%; Grab Falls 3%; AppLovin Drops 5%; Cisco Sinks 7%; QuantumScape Tumbles 11%

Fastly, a leading global edge cloud platform, reported fourth-quarter earnings that significantly exceeded analyst expectations, sending shares surging 35% in overnight trading as the company delivered record revenue and raised its outlook for the coming year.

Singapore's Grab forecast fiscal 2026 revenue below Wall Street expectations, signaling slower momentum in the tech firm's core businesses of ride hailing and deliveries as consumers grapple with economic uncertainty. Shares of the company dropped 2.6% in overnight trading after the results.

Albemarle, the world's largest producer of lithium, posted a larger-than-expected quarterly loss on Wednesday and said it would idle a major Australian processing plant as it continues to face weak prices for the battery metal. The shares dropped 3% in overnight trading.

Marketing platform AppLovin missed market estimates for fourth-quarter sales, indicating tepid demand for its advertising services amid increasing competition and an uncertain macroeconomic environment. Shares of the company fell 5% in overnight trading.

Cisco gave a weaker-than-expected forecast for profitability in the current quarter, spurring concerns that mounting memory-chip prices are taking a toll on the company. The shares sank 7% in overnight trading.

Shares of QuantumScape were pinned down in overnight trading, pressured by the company’s most recent quarterly results, which showed a modest beat on profit expectations but again showed no revenue generated from its core business.