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Roku Inc. shares shot up 22% in the extended session Wednesday after beating revenue and earnings expectations. Roku shares climbed 22% to $23 after hours. The company reported third-quarter net losses of $46.2 million, or $8.79 a share, compared with losses of $12.7 million or $2.66 a share, in the year-ago period. In the third quarter, $37.7 million of the $46.2 million net loss was related to an increase in the company’s preferred stock warrant liability. Adjusted losses were 10 cents a share. Revenue rose to $124.8 million from $89 million in the year-ago period. Analysts surveyed by FactSet had estimated an adjusted loss of 28 cents a share on revenue of $110.5 million. For the fourth quarter, analysts model a loss of 13 cents a share on revenue of $177.1 million. Executives offered fourth-quarter guidance of net losses of between $8 million and $14 million, on sales of between $175 million to $190 million. Roku stock has dropped 19% in the last month, with the S&P 500 index rising 1.6%. The company went public in September and priced its initial public offering at $14.

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Square Inc. posted an earnings beat and raised its outlook for the full year Wednesday afternoon, but shares still slumped more than 2% in immediate after-hours trading. Square reported a third-quarter net loss of $16 million, or 4 cents a share, on revenue of $585.2 million, up from $439 million a year ago. After adjusting for stock-based compensation expenses and other effects, Square claimed earnings of 7 cents a share, up from a penny a share a year ago, on adjusted revenue–which subtracts transaction-based costs–of $257.2 million. Analysts on average expected adjusted earnings of 5 cents a share on adjusted revenue of $245.2 million, according to FactSet. Square had projected third-quarter adjusted earnings of 4 cents to 5 cents a share on adjusted revenue of $238 million to $241 million. Square also raised its full-year outlook, saying that it now expects net revenue of $2.18 billion to $2.19 billion, after previously projecting $2.14 billion to $2.16 billion; adjusted revenue of $963 million to $966 million, after a previous forecast of $925 million to $935 million; and adjusted earnings of 24 cents to 25 cents a share, up from 21 cents to 23 cents a share. Square stock closed at $36.71, but fell lower than $36 in late trading.

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Shares of 21st Century Fox rose 1.5% late Wednesday after the media company reported fiscal first-quarter sales above Wall Street expectations and met adjusted earnings forecasts. Fox said it earned $920 million, or 46 cents, in the quarter, compared with $888 million, or 44 cents, in the year-ago period. Adjusted for one-time items, the company reported earnings of 49 cents a share, compared with 51 cents a share a year ago. Revenues rose to $7 billion, from $6.51 billion a year ago, reflecting revenue growth across all operating segments, the company said. Analysts polled by FactSet had expected adjusted earnings of 49 cents a share on sales of $6.8 billion.

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The New Zealand dollar extended gains against its U.S. rival on Wednesday, after the Reserve Bank of New Zealand left left its official cash rate unchanged at 1.75%, as expected. The central bank also stated that it that its policies will continue to be accommodative. A weaker New Zealand dollar, also known as the kiwi, will help lift the country’s subdued inflation figure, the central bank said. Consumer price inflation stood at 1.9% in September, close to the RBNZ’s target, although underlying inflation was weaker. The kiwi dollar last bought $0.6950, up from $0.6901 late Tuesday in New York. The Australian dollar fell against its neighbor, buying 1.1055 NZ dollars, down 0.2% from Tuesday.

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KBS Fashion Group Ltd., a tiny company that manufactures and sells casual menswear and is headquartered in China, on Wednesday saw its shares surging almost 400%. The reason for the rally couldn’t be determined, but KBS , founded by Anna Polemis on Jan. 26, 2012, has gained a whopping 470% so far this month. In other words, its market value at the start of the month, at $4.1 million, has sextupled to about $24 million in most recent trade, according to FactSet data. KBS’s stock trades on the Nasdaq Inc. . Year to date, the retailer’s shares are only up about 180% , with KBS Fashion’s gyrations reminiscent of the volatility typically observed in assets like bitcoin , which is up more than 600% so far in 2017. By comparison, the Dow Jones Industrial Average is up about 19%, the S&P 500 index has gained about 16%, while the Nasdaq Composite Index has returned about 26% thus far in 2017.

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A creditor asked the International Swaps and Derivatives Association’s Determinations Committee if a $1.1 billion principal payment for a bond issued by PDVSA, its state-owned oil company, came up short. The payment was due on Nov. 3, but the issuer has a three-day grace period before a creditor can ask the ISDA to intervene. If the derivatives trade body rules the PDVSA had defaulted on its bonds, this would open the door to the triggering of credit-default swaps, which act like insurance against debt nonpayment. Venezuelan President Nicolas Maduro had promised the country would make the $1.1 billion payment before restructuring all of its debts. Estimates of the nation’s debt burden range from $100 billion to $150 billion.

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A creditor asked the International Swaps and Derivatives Association’s Determinations Committee if a $1.1 billion principal payment for a bond issued by PDVSA, its state-owned oil company, came up short. The payment was due on Nov. 3, but the issuer has a three-day grace period before a creditor can ask the ISDA to intervene. If the derivatives trade body rules the PDVSA had defaulted on its bonds, this would open the door to the triggering of credit-default swaps, which act like insurance against debt nonpayment. Venezuelan President Nicolas Maduro had promised the country would make the $1.1 billion payment before restructuring all of its debts. Estimates of the nation’s debt burden range from $100 billion to $150 billion.

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The Justice Department has told AT&T Inc. that the company needs to sell CNN, Time Warner’s cable news network, in order for its proposed $84.5 billion acquisition of Time Warner Inc. to be approved, according to a report in the Financial Times, which cited people with knowledge of the negotiations. Shares of Time Warner were down more than 5% on Wednesday. According to the report, selling CNN is just one of the demands being made, but the deal’s approval relies on that. CNN has been the target of much of President Donald Trump’s “fake news” bashing in the first year of his term. According to the FT, AT&T is not really interested in selling the news network, and the company is prepared to take the Trump administration to court. Shares of Time Warner have declined more than 7% in the year to date, and AT&T shares are down nearly 22%. By comparison, the S&P 500 index is up close to 16% and the Dow Jones Industrial Average is up more than 19%.

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Gold prices settled Wednesday at their highest in nearly three weeks, buoyed by a pullback in the U.S. dollar index from multimonth highs. Palladium futures, meanwhile, topped $1,000 an ounce to settle at their highest since early 2001, after four failed attempts this month to break that level. Strong demand and a shortage of palladium have supported prices for the metal. December gold rose $7.90, or 0.6%, to settle at $1,283.70 an ounce. December palladium jumped $21.70, or 2.2%, to end at $1,015.80 an ounce.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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