After-Hours Stock Movers: Palantir (PLTR) Jumps 12%, NXP Semiconductors (NXPI) Drops 5%

Palantir (NYSE:PLTR) rose 12% after it reported strong third quarter results and guidance, and its CEO said growth is accelerating due to "unwavering" demand for AI.

Several major stocks made significant movements in after-hours trading on Thursday following the release of fresh financial updates and key executive changes. Here's a summary of the notable after-hours stock movers:

1. Palantir (NYSE:PLTR) stock surged 12% in extended trading after the data analytics company reported better-than-expected third quarter results and provided strong guidance. Notably, Palantir's revenue grew 22% year-over-year, driven by robust demand for its artificial intelligence platform. Moreover, the company's adjusted net income turned positive for the first time, highlighting its improving profitability.

2. NXP Semiconductors (NASDAQ:NXPI) shares declined 5% in after-hours trading as the company's guidance for the fourth quarter fell short of analysts' expectations. Specifically, NXP Semiconductors now expects earnings per share in the range of $3.40 to $3.60, lower than the consensus estimate of $3.54. This weaker guidance was attributed to softening demand in the Industrial & IoT market.

3. Cleveland-Cliffs (NYSE:CLF) stock dropped 4% in extended trading despite the steelmaker beating analysts' expectations for both earnings and revenue in the third quarter. However, weaker demand and pricing led to tighter margins, which seemed to concern investors.

4. Dollar Tree (NASDAQ:DLTR) shares soared 7% in after-hours trading after the discount retailer announced a major leadership change. Specifically, Dollar Tree's Chairman and Chief Executive Officer, Rick Dreiling, will be stepping down from his roles, effective November 3, 2024.

5. Lattice Semiconductor (LSCC) stock plunged 9% in extended trading as the company's fourth-quarter revenue guidance fell short of consensus estimates. Moreover, Lattice Semiconductor now expects a net loss for the full year, which was not anticipated by analysts.

6. Wynn Resorts (NASDAQ:WYNN) shares fell 3% in after-hours trading after the casino operator reported third-quarter results that missed analysts' expectations. While Wynn Resorts' revenue increased, it was driven largely by a shift in the Chinese New Year holiday. Additionally, the company's adjusted net income declined year-over-year.

7. Hims & Hers Health (HIMS) stock rose 6% in extended trading as the telehealth company beat analysts' expectations for both revenue and earnings in the third quarter. Notably, Hims & Hers Health added 300,000 subscribers during the quarter, bringing the total to 2.0 million, and it also reported a narrower net loss.

8. Coinbase (NASDAQ:COIN) shares slipped 3% in after-hours trading as investors reacted to news that the company's President and Chief Operating Officer, Jeff Horsley, sold shares of the cryptocurrency exchange operator. According to a recent filing, Horsley sold 100,000 shares of Coinbase stock at an average price of $17.7, for a total of $1.77 million.