Palantir shares jump as company registers profit surprise while PayPal stock slumps

Dow Jones2023-05-09

MW Palantir shares jump as company registers profit surprise while PayPal stock slumps

By MarketWatch

Here are some of the biggest movers of the day:

Stock gainers:

Palantir Technologies Inc.'s stock $(PLTR.UK)$ rocketed 19% in premarket trade Tuesday after the software company surprised investors with its second-ever quarterly GAAP profit since coming public.

Shoals Technologies Inc. $(SHLS)$ shares jumped 9%, following a beat on earnings and revenue and a forecast increase for the solar-energy-components company.

Shares of Harmonic Inc.$(HLIT)$ jumped more than 10% in the extended session Monday after the maker of fiber-optic and other telecommunications systems topped Wall Street expectations for its quarterly earnings, thanks to "strong demand" for its products.

Western Digital Corp. $(WDC)$ shares rose 2% as the data-storage device company's results came in better than expected but its forecast didn't.

Premier Inc. (PINC) shares rose 7% in after-hours trading after announcing that the board is considering strategic alternatives, including a potential sale.

Stock decliners:

Shares of Lucid Group Inc.(LCID) shed 9% in the premarket fter the electric-vehicle startup reported steeper quarterly losses and tweaked its guidance for the year

PayPal Holdings Inc. shares (PYPL) fell 4%, though the company beat expectations with its latest results. Jefferies analyst Trevor Williams noted that the company beat revenue estimates by a smaller margin than it exceeded volume expectations.

Skyworks Solutions Inc. $(SWKS)$ shares fell 10% after the analog and mixed-signal chip maker's outlook fell short of Wall Street expectations.

Wayfair Inc. (W) stock fell 8% after the online furniture retailer said it planned to issue $600 million in convertible notes.

Hims & Hers Health Inc.$(HIMS)$ shares fell 3% The online telehealth and prescription platform reported a bigger per-share loss than expected for its first quarter, but raised its full-year sales forecast.

-MarketWatch

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(END) Dow Jones Newswires

May 09, 2023 05:54 ET (09:54 GMT)

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Palantir shares jump as company registers profit surprise while PayPal stock slumps

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