Global Courant 2023-05-09 17:25:29
A pedestrian passes a banner displaying Palantir Technologies signs during the company’s initial public offering (IPO) for the New York Stock Exchange (NYSE), Sept. 30, 2020.
Michael Nagel | Bloomberg | Getty Images
Check out the companies making headlines before the bell:
Palantir Technologies — Shares of Palantir rose nearly 20% after the enterprise computing company best known for its data mining platforms reported first-quarter results that beat analysts’ estimates. The company also provided full-year profitability guidance. CEO Alex Karp said demand for the company’s artificial intelligence platform is “without precedent”.
3D systems — 3D Systems fell 9.8% after disappointing reports first quarter Results. The 3D printer maker reported an adjusted loss of 9 per share on $121 million in revenue. Analysts had forecast a loss per share of 7 cents on revenue of $128 million, per Refinitiv. In addition, the company cut 6% of its workforce. It also reaffirmed its full-year revenue outlook, although it raised its full-year adjusted EBITDA forecast. Jeffrey Graves, president and CEO of 3D Systems, said the results are due to “ongoing weakness in our dental orthodontic market, which we attribute to reported sluggishness in consumer durables spending.”
Skyworks Solutions — Skyworks Solutions lost more than 9% after releasing weaker-than-expected Q3 fiscal guidance. The semiconductor company forecasts non-GAAP earnings per share of about $1.67, lower than consensus estimates of $2.06, according to StreetAccount. It also expects revenue of $1.05 billion and $1.09 billion, while analysts expected the forecast to come in at $1.15 billion. Otherwise the company reported second-quarter results in line with expectations, while sales were better, according to StreetAccount.
Under armor Shares of the apparel company fell nearly 5% in premarket trading despite Under Armor’s fourth-quarter results beating expectations for revenue and earnings, Refinitiv said. However, the company’s full-year outlook for revenue and earnings per share fell short of expectations. Under Armor forecast earnings between 47 cents per share and 51 cents per share for the following year, compared to 61 cents expected by analysts, according to StreetAccount.
Fisker – Fisker fell 12.5% in premarket after falling short of first quarter earnings expectations. The auto company reported a larger-than-expected loss of 38 cents per share, while analysts estimated a loss of 30 cents per share, Refinitiv said.
Western Digital — Chip inventory rose about 2% in premarket after the company reported a sales increase in the last quarter. The investor seemed to shrug off the larger-than-expected quarterly loss. Wedbush reiterated its outperform rating Tuesday after the earnings report, based on optimism about earnings potential and a belief that investors like Elliott and Apollo will ultimately determine a strategic outcome for the stock.
PayPal Holdings — Shares of the payments company fell more than 5%, hit by weak earnings expectations for the current quarter in an otherwise positive report. Full-year earnings guidance was more optimistic and the company reported better-than-expected earnings and earnings, Refinitiv said.
Lucid Group — The electric vehicle maker fell nearly 11% in premarket trading after reporting a larger-than-expected quarterly loss. The company reported revenue of $149.4 million against Refinitiv analyst expectations of $209.9 million.
Trex company — Trex Company then rose 4.8% in premarket trading exceed analyst expectations for first-quarter revenue and earnings and better-than-expected second-quarter revenue expectations. The wood-alternative decking and railing maker expects second-quarter revenue of between $310 and 320 million, while analysts forecast a $309.0 million forecast, according to FactSet.
McKesson — McKesson rose 4.6% after posting better-than-expected quarterly results. The company reported adjusted earnings of $7.19 per share, just above a StreetAccount forecast of $7.18 per share. It spent $68.91 billion in revenue, more than estimated at $68.08 billion.
– CNBC’s Brian Evans, Yun Li, Tanaya Macheel and Jesse Pound contributed to the reporting
