Take a look at the companies that made headlines during extended trading: Palantir Technologies – Shares fell nearly 5% after the company issued lighter-than-expected guidance for full-year revenue. Adjusted earnings for the first quarter were in line with expectations at 8 cents per share per LSEG. Meanwhile, quarterly revenue of $634 million exceeded expectations of $625 million. Lucid Group – The electric vehicle maker fell 7.5% after first quarter results. Despite a slight increase in sales, the company posted a loss of 30 cents per share per LSEG, based on generally accepted accounting principles. Lucid also reaffirmed its 2024 production guidance of approximately 9,000 vehicles. Hims & Hers Health – The telehealth consultation platform rose 10% after the market after second-quarter revenue expectations exceeded analyst estimates. Hims & Hers expects revenue ranging from $292 million to $297 million, compared to analyst forecasts of $288 million per LSEG. First-quarter results also topped Street estimates. Simon Property Group – The shopping center business advanced 1.4% after a quarterly sales decline. Simon Property Group posted revenue of $1.30 billion, slightly above estimates of $1.29 billion, according to analysts surveyed by LSEG. Microchip Technology – The stock fell 4% after current quarter revenue guidance fell below analyst estimates. Microchip said first-quarter revenue will be between $1.22 billion and $1.26 billion, compared to Street estimates of $1.34 billion per LSEG. Management forecast adjusted earnings between 48 cents and 56 cents per share, also missing analyst expectations of 59 cents per share. Meanwhile, the company’s fiscal fourth-quarter results were in line with The Street’s expectations, both in terms of revenue and revenue. Vertex Pharmaceuticals – Shares were up less than 1%. Vertex reported first-quarter adjusted earnings of $4.76 per share on revenue of $2.69 billion. Analysts expected earnings of $4.06 per share and revenue of $2.58 billion per LSEG. International Flavors & Fragrances – The consumer products maker rose 3.7% after first-quarter sales exceeded expectations. International Flavors & Fragrances posted sales of $2.9 billion, while analysts surveyed by LSEG expected sales of $2.78 billion. The company also said full-year sales; adjusted operating income before interest, taxes, depreciation and amortization; and the volume should reach the upper end of previously shared accompaniment ranges. – CNBC’s Scott Schnipper, Alex Harring and Darla Mercado contributed reporting.
Stocks making the biggest moves after hours: PLTR, LCID, MCHP
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