China ADRs & ETFs rose in overnight trading. YINN, Bilibili, Li Auto rose 3%; NIO, Alibaba rose 2%; PDD rose 1%.

China’s growing clout in the artificial intelligence space has sparked a wave of optimism toward the nation’s tech shares, and brokers issuing upbeat calls.

Healthcare professional network Doximity, Inc. rose 24% in overnight trading after the company reported revenue ahead of Wall Street’s expectations in Q4 CY2024, with sales up 24.6% year on year to $168.6 million. On top of that, next quarter’s revenue guidance ($133 million at the midpoint) was surprisingly good and 4.7% above what analysts were expecting. Its non-GAAP profit of $0.45 per share was 34% above analysts’ consensus estimates.

Take-Two rose 6% in overnight trading after software forecast its fourth-quarter bookings below estimates on Thursday, owing to weaker spending on mobile games as consumers grapple with economic uncertainties and still-high inflation. The videogame industry has experienced two tumultuous years marked by industry-wide layoffs, studio closures and project cancellations, owing to high borrowing costs and weak sales.

CleanSpark, Inc. rose 8% in overnight trading after the company reported first-quarter revenue of $162.3 million, beating analyst estimates of $150.87 million, according to Benzinga Pro. The Bitcoin BTC/USD miner reported earnings of 85 cents per share, beating analyst estimates of 9 cents per share.

Payments and billing software maker BILL HOLDINGS INC fell 29% in overnight trading after the company met Wall Street’s revenue expectations in Q4 CY2024, with sales up 13.9% year on year to $362.6 million. On the other hand, next quarter’s revenue guidance of $355 million was less impressive, coming in 1.6% below analysts’ estimates. Its non-GAAP profit of $0.56 per share was 20.1% above analysts’ consensus estimates.

e.l.f. Beauty Inc. fell 22% in overnight trading after the company cut its full-year guidance after seeing a 36% drop in profits and “softer than expected” sales trends in January, marking a rare downturn for one of beauty’s hottest brands.  The cosmetics company reported holiday sales that were higher than expected but profits that narrowly missed estimates, another rare miss for the retailer. 

Microchip Technology fell 6% in overnight trading after the company reported third quarter EPS of $0.20, $0.09 worse than the analyst estimate of $0.29. Revenue for the quarter came in at $1.03B versus the consensus estimate of $1.05B.

Amazon posted sales in last year's final quarter that topped Wall Street estimates, but investors initially drove shares down due to weakness in the cloud computing unit and a lower-than-expected revenue estimate. The shares dropped 4% in overnight trading.

Affirm shares jumped 15% in overnight trading after an unexpected shift to profitability in fiscal Q2, as well as strong guidance for the fiscal year.

Pinterest forecast first-quarter revenue above market estimates on Thursday, betting on the image-sharing platform's artificial intelligence-powered advertising tools to boost ad spend, sending its shares up 18% in overnight trading.

Cloudflare saw its shares climb 13% in overnight trading after the connectivity cloud company reported better-than-expected fourth-quarter results and provided an optimistic outlook for 2025.

Fortinet forecast its full-year revenue above Wall Street estimates on Thursday, as clients turn to its cybersecurity products to protect their digital operations from rising online threats, sending its shares up 6% in overnight trading.

Online travel platform Expedia reported fourth-quarter results on Thursday that beat Wall Street estimates on the back of strong international travel demand, sending the company's shares up about 10% in overnight trading.