Check out the companies making headlines in after-hour trading.
Lucid — The electric vehicle maker shed 8% after the company posted growing losses in the first quarter but said it has enough cash to continue operating into next year. The company missed expectations for revenue, reporting $149.4 million against a consensus estimate of $209.9 million from analysts polled by Refinitiv.
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Palantir — The software stock soared 22% after Palantir beat analysts' expectations for the first quarter and issued upbeat guidance. Palantir reported 5 cents in adjusted earnings per share on $525 million in revenue, while analysts polled by Refinitiv forecasted 4 cents in earnings per share and $506 million in revenue. The company also gave a strong outlook for full-year profitability.
PayPal — Shares slid about 5.5%. PayPal issued weak current-quarter expectations for earnings per share, while raising its full-year guidance for the metric. Separately, the digital payments company beat expectations on top and bottom lines for the first quarter, according to Refinitiv.
Skyworks — The semiconductor stock fell nearly 9%. Skyworks said its business fundamentals remained strong in the second quarter despite the challenging backdrop, but did guide third-quarter earnings and revenue to come in below Wall Street expectations. The company posted second-quarter earnings of $2.02 per share, excluding items, in line with analysts' expectations, according to Refinitiv. Revenue was also in line with the Street's forecast.