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Advanced Micro Devices (NASDAQ:AMD) upped its Q3 revenue guidance to $8.4 billion to $9 billion, and Q2's $7.7 billion revenue beat the predicted $7.4 billion. Yet it still wasn't enough to please short-term traders who wanted even more, with the stock falling 6% overnight, following a strong rise in the past three months.

• $800 million impact from export ban: Prohibitions on exporting MI308 artificial intelligence (AI) chips to China led to a $155 million operating loss, but last month's ban reversal should help boost coming quarters.
• "Seven of the top 10 model builders and AI companies use Instinct": CEO Lisa Su said AMD is talking to clients about building server clusters based on its newest Instinct MI350 chips, with the even more powerful MI400 line set for next year.

Arista Networks (NYSE:ANET) beat Q2 estimates with a 30.4% rise in revenue year over year to a record $2.21 billion, with adjusted earnings up 37.7% to $0.73, as sales of high-speed network switches were driven by AI and cloud demand. The stock popped more than 12% pre-market.

• "Non-GAAP operating income crossed $1 billion for the first time": CFO Chantelle Breithaupt spoke of Arista's scaling capability, while CEO Jayshree Ullal said customers are "decisively standardizing" on its technology.
• Expecting approximately $2.25 billion in revenue: Arista posted upbeat Q3 guidance, but has remained cautious on the full year due to tariffs and geopolitical uncertainty.

Stock Advisor recommendation Novo Nordisk (NYSE:NVO) saw Q2 sales of its Wegovy obesity drug climb 67% from a year ago, though growth is expected to slow as competition from Eli Lilly (NYSE:LLY) and copycats heats up. Yesterday, we asked which of Novo Nordisk, Lululemon (NASDAQ:LULU), Atlassian (NASDAQ:TEAM), or e.l.f. Beauty (NYSE:ELF) has the best chance of beating the market over the next five years, and Novo Nordisk got the most positive feedback from members.

• "We have lowered our full-year outlook": Novo Nordisk confirmed outgoing CEO Lars Fruergaard Jorgensen's warning, with 2025 sales growth put at 8% to 14%, cut from 13% to 21% previously.
• "Demand for AI-powered online creation continues to accelerate": Hidden Gems rec Wix.com (NASDAQ:WIX) gained over 10% before the market opened, as CEO Avishai Abrahami commented on website development demand, which drove beats on Q2 revenue ($489.9 million) and earnings (non-GAAP $2.28 per share).

Disney's (NYSE:DIS) ESPN sports platform has agreed to acquire NFL Network, NFL Fantasy, and other media assets from the National Football League. In exchange, the NFL will take a 10% stake in ESPN, in a deal that will need regulatory approval.

• "With the NFL as an investor, ESPN's long-term future is incrementally more secure": Ben Swinburne at Morgan Stanley (NYSE:MS) is upbeat, as analysts try to value the NFL's share of ESPN, estimating it at $2 billion to $3 billion.
• Disney+ and Hulu post $346 million Q3 profit: Disney posted a 16% year-over-year Q3 adjusted earnings-per-share (EPS) rise this morning to $1.61, beating estimates. Streaming services added 2.6 million new subscribers in the quarter.

Shopify (NASDAQ:SHOP) made it eight quarters in a row of double-digit free cash flow margins today, posting 16% for Q2. Revenue rose 31% year over year, as the company lifted Q3 forecasts to a mid-to-high 20s percentage revenue rise.

• Earnings beats for four quarters in a row: Unity Software (NYSE:U) also reports Q2 this morning. The game engine developer's AI-powered Vector advertising platform helped steady Q1 revenue, though ad spend will be something to watch.
• Ranked 15th across all TMF services for its ability to beat the market over the next 5 years: Wall Street expects Rule Breakers rec Airbnb (NASDAQ:ABNB) to post a 10% rise in Q2 revenue after the closing bell, with analysts hoping international growth will help offset any feared slowing in the U.S. market.

As of our Moneyball database’s last quarterly update, Arista has a Superscore of 91, with only Nvidia (NASDAQ:NVDA) and Taiwan Semi (NYSE:TSM) having higher. Debate with friends and family which two stocks you believe can outperform Arista over five years, and why, or become a member to hear what your fellow Fools are saying.