Netflix surged more than 3% after Bill Ackman’s Pershing Square disclosed a new stake in the streaming giant. Super Micro Computer rose 6%, bringing its two-day gain to 25%, after first-quarter guidance exceeded expectations with adjusted EPS of $1.01 to $1.10 and revenue of $14.5 billion to $15.5 billion. Cisco Systems dropped 9% due to gross margin concerns as its forecast narrowly missed consensus estimates. Tapestry, parent company of Kate Spade and Coach, tumbled nearly 15% following underwhelming quarterly results, while Red Robin Gourmet Burgers soared 25% after beating analyst expectations.
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