Market Movers: Here's Why Applied Materials is Up 13%

Group 1: Applied Materials - Applied Materials' shares increased by 13%, reaching $43.56 per share, following strong earnings and positive guidance [1] - The company reported an EPS of $2.38, beating estimates by $0.17, and revenue of $7.01 billion, which was $130 million above expectations despite a 2.2% year-over-year decline [1] - Future revenue guidance is set between $7.15 billion and $8.15 billion, exceeding the prior estimate of $7.01 billion, with adjusted EPS expected between $2.44 and $2.84, also above the anticipated $2.28 [1] - Wells Fargo noted that Applied Materials expects semiconductor systems revenue to grow over 20% year-over-year, significantly higher than the previous Street estimate of 11% [1] - Bank of America and JPMorgan both maintain positive ratings on Applied Materials, with price targets of $420 and $435 respectively [1] Group 2: Rivian Automotive - Rivian Automotive's shares rose by 26%, or $3.65 per share, after Deutsche Bank upgraded the stock to a buy rating with a price target of $23 [1] - The company reported an EPS loss of $0.66, which beat estimates by $0.13, and revenue of $1.29 billion, which was $20 million above expectations despite a 25% year-over-year decline [1] - Rivian anticipates that 2026 will be a crucial year, with the R2 launch expected to drive vehicle delivery growth and mass market expansion [1] Group 3: Reddit - Reddit's shares are recovering after a decline, with a recent EPS of $1.24, beating estimates by $0.31, and revenue of $725.6 million, up 69.6% year-over-year, exceeding expectations by $58.54 million [1] - The company announced a $1 billion buyback program and expects revenue between $595 million and $605 million, along with adjusted EBITDA in the range of $210 million to $220 million, both ahead of estimates [1]