24H｜Compass Surged 20%; SMCI Up 19%; Flex Up 18%; AMD Up 16%; ARM Holdings Up 9%; Wolfspeed Tumbled 15%

Compass (COMP) reported Q1 earnings late Tuesday of $0.03 per diluted share, swinging from a loss of $0.09 per share a year earlier. Analysts polled by FactSet expected a loss of $0.19. Compass shares surged 20% in overnight trading.

Shares of Flex gained after the company disclosed plans to spin off its cloud and power infrastructure segments as it logged higher profit and revenue in its latest quarter. The stock rallied 18% in overnight trading.

Chip stocks jump in overnight trading. SMCI up 19%; AMD up 16%; ARM Holdings up 9%; SOXL up 6%; Micron, Intel and SanDisk up 4%; UMC up 3%; Western Digital and Qualcomm up 2%.

Wolfspeed (NYSE:WOLF) reported quarterly losses of $(3.26) per share which missed the analyst consensus estimate of $(2.02) by 62.19 percent. Wolfspeed shares tumbled 15% in overnight trading.