Stocks making the biggest moves premarket: Palantir, Skyworks, Under Armour & more

cnbc.com:

In this article

Check out the companies making headlines before the bell:

Palantir Technologies — Shares of Palantir rose nearly 20% after the enterprise computing firm best known for its data mining platforms released first-quarter results that beat analyst estimates. The company also issued guidance for full-year profitability. CEO Alex Karp said demand for the company's artificial intelligence platform is «without precedent.»

3D Systems — 3D Systems dropped 9.8% after posting disappointing first-quarter results. The maker of 3D printers reported an adjusted loss of 9 per share on revenue of $121 million. Analysts had forecasted a per-share loss of 7 cents on revenue of $128 million, per Refinitiv. Additionally, the firm cut 6% of its workforce. It also reaffirmed full-year revenue guidance, though it raised its full-year adjusted EBITDA forecast. Jeffrey Graves, president and CEO of 3D Systems, said the results are due to «continued softness in our dental orthodontic market, which we attribute to reported sluggishness in consumer discretionary spending.» 

Skyworks Solutions — Skyworks Solutions shed more than 9% after issuing weaker-than-expected fiscal third-quarter guidance. The semiconductor firm forecasts non-GAAP per-share earnings of around $1.67, lower than consensus estimates of $2.06, according to StreetAccount. It also expects revenue of $1.05 billion and $1.09 billion, while analysts were expecting guidance to come in at $1.15 billion. Otherwise, the firm reported second-quarter earnings that were in line with expectations, while revenue beat, according to StreetAccount.

Under Armour — Shares of the apparel company fell nearly 5% in premarket trading despite Under Armour's fiscal-fourth quarter results