Midday stock movements: Palantir, Tesla, DoorDash, Ford, and others

Midday Trading Highlights

Several companies have caught the market’s attention in today’s trading session:

Palantir: Stock prices dropped by 13.4% after revealing first-quarter revenues of $884 million, which was slightly above analyst expectations of $863 million, according to LSEG. Still, earnings per share were in line with forecasts at 13 cents.

Ford Motor: The automaker experienced a resurgence, seeing its stock rise by 3.2% following better-than-anticipated first-quarter results. Ford posted adjusted earnings of 14 cents per share, with revenues hitting $37.42 billion. Analysts had expected profits of just 2 cents per share with revenues of $36.21 billion. However, the company has suspended its guidance for 2025 due to potential disruptions in the industry-wide supply chain that could impact short-term production risks.

Upwork: Shares soared by 19% after the freelance platform reported impressive results, surpassing adjusted revenue expectations for the first quarter, and boosting its full-year outlook for adjusted revenue.

Tesla: The electric vehicle manufacturer saw a 2% decline in stock, following data that showed a drop in new car sales in the UK and Germany for the first time in two years. Sales in both countries fell dramatically, with a year-on-year decrease of 62% and 46%, although electric vehicle demand continues to rise.

HIMS & HERS HEALTH: Stocks climbed 10.4% after the telehealth company reported strong first-quarter results, with revenues of 20 cents per share, surpassing the consensus forecast of 12 cents. Their total revenue of $586 million also exceeded expectations of $538 million. However, the company anticipates generating lower-than-expected revenue in the second quarter.

Doordash: Shares fell by 6.8% as the food distribution company reported first-quarter revenues that fell short of the consensus estimate of $309 million. Additionally, Doordash announced a $1.2 billion acquisition of the restaurant reservation platform Sevenrooms.

Neurocrine Biosciences: Biopharmaceutical stocks rose over 9% as the company reported first-quarter revenues surpassing expectations, with sales of its treatment Ingrezza increasing by 8% year-on-year to $545 million.

Vertex Pharmaceuticals: The biotechnology firm faced a 13.2% drop as its quarterly results fell below expectations, with adjusted earnings of $4.06 per share missing the estimate of $4.32 per share.

CLOROX: Stocks of the cleaning products manufacturer fell 2.2% after reporting disappointing fiscal results for the third quarter, with an adjusted profit of $1.45 on revenue of $1.45 per share, compared to the expected revenue of $1.57 per share.

Lattice Semiconductors: The chipmaker’s stock decreased by 12.3% after first-quarter revenues matched consensus estimates. Lattice provided forward revenue guidance for the current quarter, projecting between $118.5 million and $128.5 million, while analysts had forecasted $123.6 million.

Marriott International: The hotel and resort company saw its stocks increase by over 2% after reporting solid earnings and revenue in the first quarter, with adjusted earnings of $2.32 per share on revenues of $62.6 billion.

Constellation Energy: Oil stocks rose by 11.4%, as the company’s first quarter results surpassed forecasts, reporting revenue of $6.79 billion, exceeding the expected $5.44 billion.