Enphase, CoStar Tumble on Weak Outlooks; DMC Global, PPG Surge After-Hours

Shares of Enphase Energy and CoStar Group plunged in late trading Tuesday after their forward guidance disappointed investors, highlighting a volatile after-hours session driven by a heavy slate of corporate earnings. Conversely, strong results and positive outlooks sent shares of industrial firms DMC Global and PPG Industries sharply higher.

Guidance Weighs on Tech and Glass Makers

Several companies saw their shares fall despite, or because of, their forward-looking statements.

• Enphase Energy (ENPH) tumbled 10% after missing third-quarter estimates and providing a downbeat fourth-quarter outlook. The solar microinverter supplier guided for Q4 revenue of $225–$255 million, well below the $300.5 million consensus, citing weak U.S. residential solar demand and destocking in Europe.
• CoStar Group (CSGP) dropped 11%. Although the real estate data firm beat Q3 analyst targets, investors reacted negatively to concerns about future margins being pressured by elevated operating expenses tied to the expansion of its Homes.com residential portal.
• O-I Glass (OI) also fell 11% after reporting an unexpected third-quarter adjusted loss of ($0.09) per share. The company lowered its full-year 2026 outlook and withdrew its 2027 targets, citing trade disputes, European destocking, and energy cost pressures.
• Robinhood Markets (HOOD) slid 5% on mixed Q3 results. While earnings per share beat expectations, net revenues of $1.40 billion slightly missed consensus due to moderating crypto and equity trading volumes.

Industrials and Dining Post Strong Gains

Positive earnings surprises and optimistic guidance provided a significant lift for several companies in the industrial and consumer discretionary sectors.

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• DMC Global (BOOM) surged 16% after delivering a blowout third-quarter bottom line. The industrial holding company reported an adjusted EPS of $0.48, far exceeding the analyst consensus of $0.11.
• PPG Industries (PPG) jumped 7.5% following a clean Q3 beat-and-raise report. The specialty coatings maker raised its full-year 2026 EPS guidance to a range of $7.90–$8.10, with the midpoint above Wall Street estimates.
• The Cheesecake Factory (CAKE) rose 4% after topping third-quarter expectations, driven by positive comparable restaurant sales and improving operating margins.

'Sell-the-News' Reaction Hits Tech Winners

In a sign of elevated investor expectations, some companies that delivered strong reports still saw their shares decline as investors took profits.

• Seagate Technology (STX) dropped 7% despite posting a strong Q1 beat and raising its forward guidance. The decline was characterized as a "sell-the-news" event, with investors cashing in after a multi-quarter rally driven by demand for its AI-related data storage products.
• Teradyne (TER) fell 6.6% even after beating Q3 estimates and raising its outlook. The move was attributed to profit-taking following a substantial year-to-date rally of 59.5%.