Presented by Bito: The founders who took PubMatic public at a ~$4B peak valuation are building again — this time an AI layer that cut coding costs per task by 48% in testing, backed by $10M+ in institutional capital. See why the $4B team is at it again →

Guidance is doing the heavy lifting this morning. A cruise line and a delivery giant both raised their full-year outlooks, and both are trading higher before the bell, while a chip packager is somehow rising despite missing on both lines.

On the other side, a payments company is slipping as a revenue miss overshadows a profit beat, and one of the biggest AI fundraises yet is weighing on the company raising the money.

The founders who took PubMatic public on NASDAQ, where it reached a peak valuation of roughly $4 billion, are building again.

Their new company, Bito, helps AI coding tools understand the code they’re working on and routes each task to the lowest-cost AI model suited for the job. In testing, it cut AI costs per task by 48%.

Bito has raised more than $10 million from institutional investors and tech leaders.

Royal Caribbean (RCL): +5%

The cruise operator is leading premarket after a quarterly beat and another lift to its full-year earnings outlook. A guidance raise this late in the year suggests management sees no sign of travelers pulling back on big-ticket trips.

Amkor Technology (AMKR): +3%

Here’s the counterintuitive one: the chip packaging and testing company missed on both earnings and revenue, and the stock is rising anyway. Amkor also trimmed its capital spending outlook, and investors may be welcoming the more disciplined plan more than they’re worrying about the miss.

UPS (UPS): +1%

The delivery giant beat Wall Street’s expectations and raised its full-year revenue outlook. The guidance raise is the stronger signal, suggesting the business is running ahead of where management thought it would be just a quarter ago.

PayPal (PYPL): -1%

PayPal missed on revenue, and that’s outweighing both a profit beat and a raised full-year profit forecast. For a payments company, the top line is the growth story, so a revenue miss lands harder than a bottom-line win.

Meta Platforms (META): -0.5%

Meta announced plans to raise up to $95 billion to support its AI infrastructure push, with Nvidia committing $3 billion. Raising capital at that scale is a reminder of just how expensive the AI race has become, and the stock is dipping slightly as investors digest the price tag.

The founders who took PubMatic public on NASDAQ, where it reached a peak valuation of roughly $4 billion, are building again.

Their new company, Bito, helps AI coding tools understand the code they’re working on and routes each task to the lowest-cost AI model suited for the job. In testing, it cut AI costs per task by 48%.

Bito has raised more than $10 million from institutional investors and tech leaders.

Robinhood Markets (HOOD)

Robinhood reports third-quarter results after the close tonight, and the StockTwits crowd is split heading in. Some users are calling for a bounce back toward the $110 range on strong trading activity, while others are bracing for a repeat of past post-earnings selloffs, and the Street is just as divided, with fresh Buy and Equal Weight calls landing in recent weeks.

Options pricing implies a move of roughly 10% in either direction, and the stock has fallen after each of its last four earnings reports. It’s also down double digits this year, so tonight could be the moment that either resets the narrative or extends the slide.

✌️That’s it for today.