Closing Bell Movers: Palantir hits record highs on beat and raise

In the opening hour of the evening session, U.S. equity futures are up marginally, with S&P 500, Nasdaq 100, and Dow Industrials all adding to Monday’s solid market with 0.1% gains.  WTI Crude Oil is little changed around $66 per barrel following three consecutive sessions of declines, while Precious Metals are opening slightly higher in electronic trade, and if gains should hold, will mark three straight sessions of advance.

Tech and Communications Services – dominated by Google and Meta – led the S&P 500 index on Monday, followed closely by high-yielding Utilities benefiting from lower interest rates.  The yield on the 10-year Treasury edged further down to 4.2% – the cusp of a three-month low.  Fed funds futures markets also continued to price in the near-certain FOMC easing starting with September decision, with probabilities now rising to 94%.

Afterhours, Palantir was the highlight, rising to record highs on a strong earnings beat and guidance raise.  Vertex Pharma and Hims and Hers were down double-digits however, with earnings falling shy of consensus.

Check out this evening’s top movers from around Wall Street, compiled by The Fly.

HIGHER AFTER EARNINGS –

• Castle Biosciences (CSTL) up 24.0%
• BWX Technologies (BWXT) up 11.4%
• Dorman Products (DORM) up 7.5%
• BioMarin Pharmaceutical (BMRN) up 7.3%
• Encompass Health  (EHC) up 6.0%
• Axon Enterprise (AXON) up 3.7%
• AECOM (ACM) up 3.6%
• Palantir (PLTR) up 3.5%
• Corebridge Financial (CRBG) up 1.5%

ALSO HIGHER –

• Arteris (AIP) up 55.1% after entering partnership with AMD (AMD)

DOWN AFTER EARNINGS –

• Inspire Medical Systems (INSP) down 21.1%
• Vertex Pharmaceuticals (VRTX) down 14.5%
• Hims & Hers Health (HIMS) down 13.7%
• Kyndryl Holdings (KD) down 13.6%
• CRISPR Therapeutics (CRSP) down 6.0%
• MercadoLibre (MELI) down 5.2%
• Air Lease (AL) down 4.9%
• Diamondback Energy (FANG) down 3.7%
• Trex Company (TREX) down 2.8%