These Stocks Are Moving the Most Today: Palantir, DJT, Boeing, Lattice Semi, Astera Labs, Marqeta, Super Micro, and More
Stock futures rose modestly Tuesday as voters headed to the polls to elect the next U.S. president.
These stocks were poised to make moves Tuesday:
$Palantir Technologies Inc.(PLTR)$
$Trump Media & Technology(DJT)$
$NVIDIA Corp(NVDA)$ was up 0.7% in premarket trading. The semiconductor maker, whose chips are the favored choice for training artificial-intelligence models, ended Monday's session up 0.5% and came up just short of closing with a market cap greater than Apple, the most valuable U.S. company. Nvidia finished trading Monday with a market value of $3.337 trillion versus Apple's $3.356 trillion, according to Dow Jones Market Data. Apple fell 0.2% in premarket trading.
Boeing reached a deal with union employees to end a damaging strike of nearly eight weeks that will allow the aerospace giant to get back to the business of making planes. Boeing's latest offer received support from 59% of workers. The deal will raise average machinist wages from to $119,000 a year from roughly $76,000, according to Boeing. Shares rose 2.1%.
Shares of Lattice Semiconductor dropped 19% after the semiconductor manufacturing company reported third-quarter earnings and revenue mostly in line with analysts' estimates but said it would be cutting its workforce by 14% to reduce operating expenses. The company said it expects fourth-quarter adjusted earnings of 15 cents to 23 cents a share on revenue of $112 million to $122 million. Analysts expect a profit of 12 cents a share in the period on revenue of $132 million.
Astera Labs jumped 25% after reporting third-quarter adjusted earnings and revenue that beat Wall Street expectations and issuing guidance for the fourth quarter that also exceeded estimates. The semiconductor company said it expects adjusted earnings of 25 cents to 26 cents a share on revenue between $126 million to $130 million.
Dollar Tree was rising 4% after the discount retailer said CEO Rick Dreiling has stepped down. Dreiling cited health "challenges" as the reason for his resignation. Michael Creedon Jr., Dollar Tree's chief operating officer, has been appointed interim chief executive, and the company's board is seeking a permanent successor. Dollar Treet also reaffirmed its fiscal third-quarter outlook.
Hims & Hers Health jumped 12% after the telehealth-consultation platform swung to a third-quarter profit and raised its fiscal-year outlook. Revenue in the third quarter surged 77% to $401.6 million and topped analysts' forecasts with the company saying its "new weight loss offering is helping a growing number of people and providing an accelerant to what was already a robust trajectory."
Marqeta plummeted 37% after the financial-technology company said it expects net revenue growth in the fourth quarter of 10% to 12% and gross profit growth of 13% to 15%. Marqeta had previously said it expected revenue growth of 16% to 18% and gross-profit growth of about 25% to 27%. "Our fourth-quarter guidance reflects several changes that became apparent over the last few months with regards to the heightened scrutiny of the banking environment and specific customer program changes," the company said in a statement.
NXP Semiconductors was down 5.5%. The Netherlands-based chip maker for Apple and Hyundai semiconductor issued disappointing fourth-quarter guidance, saying it was "confronted with increasing macro related weakness in the Industrial & IoT market. Our guidance for the fourth quarter reflects broader macro weakness especially in Europe and the Americas."
Third-quarter earnings of $3.38 a share at Diamondback Energy, the oil and natural gas company, missed analysts' estimates of $4.02, sending the stock down 2.1% in premarket trading.
Earnings reports are expected Tuesday from Ferrari, Apollo Global Management, Emerson Electric, Marathon Petroleum, Cummins, Microchip Technology, and DuPont.
Super Micro Computer was up 0.7% in premarket trading. The server maker will be issuing a fiscal first-quarter " business update" after the stock market closes Tuesday. Recent developments have created a cloud of uncertainty over the company's accounting practices. In a filing Oct. 30, Super Micro disclosed that its accounting firm, Ernst & Young, had resigned, citing its unwillingness to be "associated with the financial statements prepared by management." Super Micro shares fell 45% last week, their worst week on record.
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