Pedestrians pass a banner bearing the Palantir Technologies sign during Palantir Technologies’ initial public offering at the New York Stock Exchange on September 30, 2020.
Michael Nagle | Bloomberg | Getty Images
Check out the companies that make headlines before the bell.
Palantir Technologies — Palantir shares surged nearly 20% after the enterprise computing company best known for its data mining platform posted first-quarter earnings that beat analyst expectations. The company also issued guidance on full-year profitability. CEO Alex Karp said the demand for the company’s artificial intelligence platform was “unprecedented.”
Related investment news
3D system — 3D Systems fell 9.8% after disappointing first quarter results. The 3D printer maker reported an adjusted loss of 9 cents per share on revenue of $121 million. Analysts had expected a loss of 7 cents a share and sales of $128 million, according to Refinitiv. In addition, the company cut 6% of its workforce. The company also raised its full-year adjusted EBITDA forecast, but reaffirmed its full-year earnings outlook. Jeffrey Graves, president and CEO of 3D Systems, said the result was “due to the continued weakness in our orthodontic market, which has led to an increase in reported consumer discretionary spending.” I think it’s because of the recession,” he said.
skyworks solution — Skyworks Solutions fell more than 9% after it announced a weaker-than-expected third-quarter accounting outlook. According to StreetAccount, the company’s non-GAAP earnings per share are expected to be about $1.67, below consensus expectations for him at $2.06. It also expects revenue of $1.05 billion to $1.09 billion, while analysts had expected guidance of $1.15 billion. The company reported second-quarter profit in line with expectations, but sales beat expectations, according to Street Account.
under armor — Refinitiv said its shares fell nearly 5% in pre-market trading despite better-than-expected fourth-quarter earnings on sales and bottom line. However, the company’s full-year sales and earnings per share guidance came in below expectations. Under Armor expects earnings of 47 cents to 51 cents per share over the next year, according to Street Account, compared to analysts’ expectations of 61 cents.
Fisker — Fisker fell 12.5% in the premarket after its first-quarter profit fell short of expectations. The car company reported a higher-than-expected loss of 38 cents a share, according to Refinitiv, but analysts had estimated a loss of 30 cents a share.
western digital — Chip stocks rose about 2% before the market after the company reported that it outperformed its most recent quarter of sales. Investors appear to have ignored the higher-than-expected quarterly loss. Wedbush showed optimism about earnings potential on Tuesday after the earnings call, voicing belief that investors such as Elliott and Apollo would ultimately drive strategic outcomes for the stock, outperforming. Repeated grading.
paypal holdings — The payments company’s share price fell more than 5% after weak profit forecasts for the quarter were presented in an otherwise positive report. Refinitiv said it had a brighter earnings outlook for the full year, with the company posting better-than-expected earnings and sales.
lucid group — The electric car maker fell nearly 11% in pre-market trading after reporting a better-than-expected quarterly loss. The company reported revenue of $149.4 million, compared with Refinitiv analyst estimates of $209.9 million.
trex company — The Trex Company surged 4.8% in pre-market trading after first-quarter sales and bottom line earnings beat analyst expectations and a better-than-expected second-quarter earnings outlook. The maker of wooden replacement decking and railings expects second-quarter sales to be between $310 million and $320 million, according to FactSet, though analysts have pushed guidance to $309 million. I’m guessing $10,000.
Mackeson — McKesson rose 4.6% after it posted better-than-expected quarterly results. The company posted adjusted earnings of $7.19 per share, slightly above Street Account estimates of $7.18 per share. Proceeds from the issuance totaled $68.91 billion, beating expectations of $68.08 billion.
— CNBC’s Brian Evans, Yun Lee, Tanaya Machel and Jesse Pound contributed reporting.