Stocks making the biggest moves after hours: Palantir Technologies, Lucid Group and more
Check out the companies making headlines in extended trading: Palantir Technologies — Shares declined nearly 5% after the company issued lighter-than-expected guidance for full-year revenue. First-quarter adjusted earnings were in line with expectations at 8 cents per share, per LSEG. Meanwhile, quarterly revenue of $634 million topped forecasts of $625 million. Lucid Group — The electric vehicle maker tumbled 7.5% following its first-quarter results. Despite posting a slight revenue beat, per LSEG, the company posted a loss of 30 cents per share, based on generally accepted accounting principles. Lucid also reaffirmed its 2024 production guidance of about 9,000 vehicles. Hims & Hers Health — The telehealth consultation platform jumped 10% postmarket after revenue guidance for the second quarter surpassed analysts’ estimates. Hims & Hers sees revenue ranging between $292 million and $297 million, compared to analysts’ forecasts for $288 million, per LSEG. First-quarter results also came in ahead of Street estimates. Simon Property Group — The shopping mall company advanced 1.4% after reporting a quarterly revenue beat. Simon Property Group posted $1.30 billion in revenue, slightly above estimates for $1.29 billion, according to analysts polled by LSEG. Microchip Technology — The stock fell 4% after its current-quarter revenue guidance came below analysts’ estimates. Microchip said it sees first-quarter revenue between $1.22 billion and $1.26 billion, compared to Street estimates of $1.34 billion, per LSEG. Management forecasts adjusted earnings in a range between 48 cents and 56 cents per share, also missing analysts’ expectations of 59 cents per share. Meanwhile, the company’s fiscal fourth-quarter results were in line with the Street’s forecasts on both top and bottom lines. Vertex Pharmaceuticals — Shares ticked higher by less than 1%. Vertex reported first-quarter adjusted earnings of $4.76 a share on revenue of $2.69 billion. Analysts anticipated earnings of $4.06 per share and revenue of $2.58 billion, per LSEG. International Flavors & Fragrances — The consumer product maker jumped 3.7% after first-quarter revenue topped expectations. International Flavors & Fragrances posted $2.9 billion in revenue, while analysts polled by LSEG anticipated $2.78 billion. The company also said full-year sales; adjusted operating earnings before interest, taxes, depreciation and amortization; and volume should come in near the higher end of previously shared guidance ranges. — CNBC’s Scott Schnipper, Alex Harring and Darla Mercado contributed reporting. This post has been syndicated from a third-party source. View the original article here.
