A pedestrian passes a banner displaying Palantir Applied sciences signage throughout the firm’s preliminary public providing (IPO) in entrance of the New York Inventory Trade (NYSE), Sept. 30, 2020.
Michael Nagle | Bloomberg | Getty Photographs
Take a look at the businesses making headlines earlier than the bell:
Palantir Applied sciences — Shares of Palantir rose almost 20% after the enterprise computing agency greatest identified for its knowledge mining platforms launched first-quarter outcomes that beat analyst estimates. The corporate additionally issued steerage for full-year profitability. CEO Alex Karp mentioned demand for the corporate’s synthetic intelligence platform is “with out precedent.”
3D Methods — 3D Methods dropped 9.8% after posting disappointing first-quarter outcomes. The maker of 3D printers reported an adjusted lack of 9 per share on income of $121 million. Analysts had forecasted a per-share lack of 7 cents on income of $128 million, per Refinitiv. Moreover, the agency minimize 6% of its workforce. It additionally reaffirmed full-year income steerage, although it raised its full-year adjusted EBITDA forecast. Jeffrey Graves, president and CEO of 3D Methods, mentioned the outcomes are attributable to “continued softness in our dental orthodontic market, which we attribute to reported sluggishness in shopper discretionary spending.”
Skyworks Options — Skyworks Options shed greater than 9% after issuing weaker-than-expected fiscal third-quarter steerage. The semiconductor agency forecasts non-GAAP per-share earnings of round $1.67, decrease than consensus estimates of $2.06, based on StreetAccount. It additionally expects income of $1.05 billion and $1.09 billion, whereas analysts have been anticipating steerage to return in at $1.15 billion. In any other case, the agency reported second-quarter earnings that have been consistent with expectations, whereas income beat, based on StreetAccount.
Underneath Armour — Shares of the attire firm fell almost 5% in premarket buying and selling regardless of Underneath Armour’s fiscal-fourth quarter outcomes beating expectations on the highest and backside traces, based on Refinitiv. The corporate’s full-year outlook for income and earnings per share got here up in need of expectations, nonetheless. Underneath Armour projected earnings between 47 cents per share and 51 cents per share over the subsequent 12 months, in comparison with 61 cents anticipated by analysts, based on StreetAccount.
Fisker — Fisker slid 12.5% within the premarket after first-quarter earnings missed estimates. The automotive firm reported a greater-than-expected lack of 38 cents per share, whereas analysts estimated a lack of 30 cents per share, based on Refinitiv.
Western Digital — The chip inventory rose about 2% in premarket after the corporate reported a income beat within the newest quarter. Investor appeared to shrug off wider-than-expected quarterly loss. Wedbush reiterated its outperform score Tuesday after the earnings report, on optimism about its earnings potential in addition to its perception that buyers like Elliott and Apollo will ultimately drive a strategic end result for the inventory.
PayPal Holdings — Shares of the funds firm fell greater than 5%, hit by weak current-quarter earnings steerage in an in any other case optimistic report. Earnings steerage for the total 12 months was extra upbeat and the corporate posted better-than-expected earnings and income, based on Refinitiv.
Lucid Group — The electrical automobile maker fell almost 11% in premarket buying and selling after reporting a bigger than anticipated quarterly loss. The corporate reported income of $149.4 million towards Refinitiv analyst expectations of $209.9 million.
Trex Firm — Trex Firm popped 4.8% in premarket buying and selling after exceeding analysts’ expectations on the highest and backside traces within the first quarter and issuing better-than-expected second-quarter income steerage. The maker of wood-alternative decking and railing expects second-quarter income between $310 and 320 million, whereas analysts forecasted steerage of $309.0 million, based on FactSet.
McKesson — McKesson rose 4.6% after posting better-than-expected quarterly outcomes. The corporate reported adjusted earnings of $7.19 per share, simply topping a StreetAccount forecast of $7.18 per share. It issued income of $68.91 billion, larger than estimates of $68.08 billion.
— CNBC’s Brian Evans, Yun Li, Tanaya Macheel and Jesse Pound contributed reporting