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Max Knoblauch15h

Air taxi maker Archer reports narrower-than-expected Q1 loss, expects operations in US cities to begin this year

Air taxi maker Archer Aviation reported its first-quarter earnings after markets closed on Monday afternoon. The company’s shares climbed over 4% in after-hours trading.

For its first quarter, Archer reported:

An adjusted operating loss of $172.5 million, in line with Wall Street estimates of a $173 million loss. Archer had forecast a loss of between $160 million and $180 million for the quarter.
A loss of $0.28 per share, compared to the $0.31 loss per share analysts polled by FactSet had predicted.
$1.78 billion in cash, cash equivalents, and short-term investments, down about 10% from Q4 2025. Archer’s rival, Joby Aviation, ended Q1 with $2.5 billion.

For the second quarter, Archer guided for a loss of between $170 million and $200 million, with a midpoint deeper than Wall Street’s $177.7 million loss estimate.

Earlier this month, Archer announced it had secured an “established pathway for Archer to begin limited commercial operations” in the UAE, though it didn’t give a timeline. Archer shares are down more than 13% year to date and more than 50% from a high last October.

“Archer expects Midnight operations in American cities to begin this year through the White House’s eVTOL Integration Pilot Program (eIPP) and as part of its preparation to serve as the Official Air Taxi Provider of the LA28 Olympic Games, in coordination with the US Department of Transportation and FAA,” read the company’s shareholder letter.

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GitLab falls on workforce reduction plan tied to “agentic era”

It can be pretty jarring, and it certainly makes for an uncomfortable internal vibe, when stocks soar after a company announces a swathe of job cuts. Fewer employees mean lower costs, and likely stronger earnings for shareholders.

But in the age of AI, the market's reaction to a round of layoffs has become less predictable. If investors already rate your company an AI-winner, or even if it's seen to have the potential to benefit from AI, the market tends to reward AI-linked job cuts in a "wow, you're so efficient and innovative" kind of way (See: Block, Coinbase, and Snap). But, if there's even a whiff of AI threatening your business, AI-related job cuts are seemingly interpreted as an admission of weakness — which is exactly the case for GitLab this morning.

Shares in the company are down nearly 9% in premarket trading Tuesday after the software development platform announced a restructuring plan amid what CEO Bill Staples called the “agentic era.”

In a memo to employees and investors, Staples said the company is planning a “workforce reduction” as part of a restructuring it expects to finalize on or before June 1. The plan includes reducing its country footprint by up to 30%, removing up to three layers of management in some functions, reorganizing R&D into roughly 60 smaller teams, and using AI agents to automate internal reviews, approvals, and handoffs. The company did not specify how many jobs would be affected.

Staples said the process will happen “openly,” including a voluntary separation window.

GitLab sells a software-development platform that helps companies manage code from planning and review to testing, security, and release — a workflow AI agents are beginning to automate.

The company reaffirmed its Q1 and full-year fiscal 2027 guidance, adding that the final scope and financial impact of the restructuring will be shared on its June 2 earnings call, after approval by the board.

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GameStop briefly spikes as tweets from @TheRoaringKitty, aka Keith Gill, appear then disappear on X

Shares of GameStop briefly mooned after hours before erasing the entire advance after posts from @TheRoaringKitty appeared, then disappeared from the social media platform X.

@TheRoaringKitty is the account associated with Keith Gill, the messiah of GameStop’s meme-stock moment in 2021 who returned in 2024 to kick off another parabolic rally in the shares.

The tweets came and went before I could lay eyes on them, but Bloomberg tells me there was “one depicting a cat, and another with a picture of the online character Pepe the Frog wearing Roaring Kitty’s trademark red bandanna” around 5:40 p.m. ET. A screenshot posted of one tweet showed that it included a string of text (ending in “pump”) that appears to be the wallet address for a meme coin called “Red Kitten Crew.”

The market cap of the coin briefly jumped to about $12 million around the time of that tweet before cratering to about $2.6 million thereafter.

The emergent consensus on the r/Superstonk subreddit, which is dedicated to discussions of GameStop, is that the account was hacked. The more tinfoil-hatted members, meanwhile, are suggesting that not only is this a hack, but a hack intended to somehow thwart GameStop’s attempt to purchase eBay.

And on that note, GameStop also released a filing after the close of its letter to shareholders regarding their upcoming annual meeting, asking them to approve CEO Ryan Cohen’s proposed pay package as well as an increase in the authorized share count, which is one of the hurdles that would be need to be cleared in order to complete the deal with eBay.

Anyways, all these hacked account scams on X are really interfering with my ability to get people to vote for me to be a major podcast host.

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Power Solutions International mysteriously craters ahead of earnings, then tumbles more after earnings too

Shares of Power Solutions International are extending losses in postmarket trading after the engine- and power-system provider released its Q1 results.

Revenues of $128.6 million came in shy of the consensus call for $161 million, and operating income of $11.4 million was less than half of the anticipated $23.7 million.

(Granted, there were only two estimates available here.)

But the curious thing is... traders didn’t wait until these underwhelming results were released to dump the stock.

Up until about 12:10 p.m. ET, volumes were tracking above their 5-day average, but nothing too abnormal. In the 20-minute span after that — with no reported news on any wires — shares tumbled on 40 times their average volume for that time of day.

The stock finished down 17.7% in regular trading, and extended that loss to down 50% as of 5:05 p.m. ET.

Suffice it to say, this isn’t normal.

Companies operating in a similar segment of the market, like Cummins or Generac Holdings, didn’t suffer a similar intraday swoon.

While other power providers are visibly cashing in on the AI boom and offering robust outlooks tied to data center demand, Power Solutions’ management was reluctant to pencil in anything forward-looking on that front.

“The Company continues to see strong demand for data center power solutions, and expects sales to increase in the second half of 2026,” per the press release. “However, the timing and ultimate volume of related shipments remain subject to customer scheduling, manufacturing throughput, supply-chain factors, and other variables, and the Company is not predicting any specific level of data center revenue in any future period.”

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AST Spacemobile drops after 1Q top and bottom lines miss estimates

After soaring during Monday's session, AST SpaceMobile shares are coming back to earth.

The retail-trading favorite is down double digits in postmarket trading Monday after the company fell short of Wall Street’s expectations with its Q1 earnings report.

Here are the details:

Revenue of $14.7 million (compared to analyst estimates of $39 million).
Net income of -$191 million (estimate: -$76.3 million)

Shares, which rose 10% during the regular session on Monday, fell 11% after the report.

The company — which is building the first space-based cellular broadband network, connecting standard cell phones to satellites — has experienced high stock volatility over the past year. Despite the dips, however, it had still landed up nearly 200% since last May.

Despite missing Street estimates, the company's revenue is a significant increase over the Q1 2025's $7.18 million, when the company focused primarily on government contract work. The company has a devoted retail following, who call themselves the SpaceMob, who’ve cheered on the SpaceX rival’s rapid growth.

Today, AST Spacemobile has agreements with Verizon, AT&T, and others to provide space-based internet directly to phones. Earlier this year, it also won a key contract with the US Department of Defense for the “Golden Dome.”

So far the company has successfully launched seven functioning satellites and on Monday recommitted to plans to have 45 total satellites by 2026. The company currently trails behind Elon Musk’s SpaceX, who says they now have 10,000 Starlink satellites in orbit and launched. AST Spacemobile also is one short on their goal after their BlueBird 7 satellite had to be taken out of orbit in April.

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CleanSpark drops after Q2 results trail estimates, with much deeper-than-expected quarterly loss

Shares of CleanSpark are down in postmarket trading after the bitcoin miner and data center developer reported its second-quarter earnings on Monday, missing Wall Street estimates on the top and bottom lines.

CleanSpark reported:

$136.4 million in revenue (compared to analysts’ consensus estimate of $139.4 million).
An adjusted loss per share of $1.52 (estimate: a $0.66 loss).

Those numbers show revenue down 24.9% year over year.

Like TeraWulf, which reported earnings on Friday, and many, many others, CleanSpark is transitioning from a solely bitcoin mining company to a broader AI infrastructure provider. The company is up 53% over the past year.

In its press release Monday, the company said it roughly doubled its megawatts under contract year over year. Per Matt Schultz, CEO and chairman of CleanSpark:

“Our objectives are clear: commercialize our AI/HPC-applicable assets, grow the portfolio, and continue mining efficiently to power CleanSpark’s transformation.”

According to exchange data, CleanSpark is among the Russell 3000 companies that traders love to hate, with roughly 35% of its float sold short as of mid-April. That’s one reason, besides the bitcoin/AI crossover, that the name is on the dashboard of many retail traders.

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