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 →

Raised outlooks are getting paid this morning. An HVAC maker is climbing on record sales and a higher full-year forecast, and an electronics manufacturer is rising after guiding well ahead of Wall Street.

The other side of the tape is less forgiving. A rocket company is falling as a launch delay overshadows record revenue, a cybersecurity name is sliding despite a beat and a raise, and a waste hauler is lower after missing on both lines.

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.

AAON (AAON): +13%

The HVAC maker is climbing after posting record sales, topping expectations, and raising its full-year outlook. Management credited strong demand for both its AAON and BASX brands and better use of recently expanded production capacity, a sign the money it put into new capacity is starting to show up in results.

Sanmina (SANM): +9%

The electronics manufacturing services provider is surging after rolling out a full-year outlook that landed well ahead of Wall Street on both earnings and revenue. Even the low end of each range cleared the consensus, which forces analysts to reset their models higher, and the stock is repricing to match.

Rocket Lab (RKLB): -8%

Record revenue and a record backlog aren’t enough to offset an adjusted EBITDA loss and a delay for the Neutron rocket, whose first flight has slipped into 2027. Neutron already has 16 missions booked before its debut, so the timeline matters, and investors are focused on the wait more than the order book.

Qualys (QLYS): -5%

The cybersecurity company beat third-quarter expectations and nudged its full-year revenue guidance higher, and the stock is sliding anyway. The raised outlook still works out to about 10% growth, and investors appear to have wanted more acceleration than that.

Casella Waste Systems (CWST): -5%

The waste services company missed on both earnings and revenue, and it pinned part of the shortfall on weaker results in its Mid-Atlantic region. Pricing was still up from a year ago, so the miss looks more like a regional soft spot than a loss of pricing power.

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.

CoreWeave (CRWV)

The AI cloud provider reports third-quarter results after today’s close, and retail traders are treating it as a test for the whole neocloud trade. Sentiment on StockTwits has sat in bearish territory for a second straight day, even as some posters call this the most consequential report in the company’s history.

Options pricing implies a move of roughly 18% in either direction, and the stock has fallen about 40% over the past month on worries about debt-funded AI buildouts. Tonight’s numbers could be what either steadies that narrative or deepens it.

✌️That’s it for today.