Albemarle, the world's largest lithium producer, posted a quarterly profit on Wednesday more than double Wall Street's expectations due to rising prices and sales of the battery metal, and its shares rose 6% in premarket trading on Thursday.
The results reflect rising demand for lithium from the electric vehicle and energy storage sectors, especially given the impact of the Iran conflict on fuel prices. Lithium supply, meanwhile, has tightened due to the closure of a key mine in China, an export ban in Zimbabwe, and dwindling lithium carbonate stocks.
AppLovin Corporation topped Q1 expectations with $1.84B revenue and $3.56 EPS, while adjusted EBITDA rose 66% YoY, sending shares up 4% in premarket trading on Thursday.
COHERENT reported its third-quarter fiscal 2026 financial results post-market on Wednesday.
Shares were down 3% in premarket trading on Thursday despite the company topping estimates across the board and demonstrating margin improvement.
IONQ Inc. raised its annual revenue forecast on Wednesday, betting on growing demand from clients for its quantum computing platform.
The shares of the company, however, fell around 6% in premarket trading on Thursday.
Snap Inc said on Wednesday its first-quarter advertising revenue was impacted by the conflict in the Middle East and slowing growth in North America, sending its shares 11% lower in premarket trading on Thursday.
The Snapchat parent also announced an end to a $400 million deal with AI startup Perplexity. The deal, aimed at offering answers to users' questions within the Snapchat app, was unveiled in November.
DoorDash, Inc. on Wednesday forecast second-quarter marketplace gross order value above analysts' estimates, helped by resilient demand for delivery services and the company's expansion in grocery, retail and international markets, sending its shares up about 10% in premarket trading on Thursday.
The company also beat estimates for quarterly adjusted profit and marketplace GOV, a measure of the total dollar value of orders placed on its platform.
Beyond Meat, Inc. fell 11% in premarket trading on Thursday after it forecast current-quarter revenue below Wall Street expectations on Wednesday, as it grapples with sluggish demand for its once-iconic plant-based products.
The company expects quarterly revenue of $60 million to $65 million, lower than analysts' expectations of about $67 million, according to data compiled by LSEG.
Comments