Palantir Technologies, the data-analytics firm, announced a record profit in the fourth quarter of the fiscal year. The company experienced accelerated revenue growth, primarily driven by a significant increase in commercial orders. Palantir's confidence in its artificial intelligence platform further bolstered its strong performance. Following this news, the company's shares rose by 19% to $19.94 after-hours.
Crown Holdings Forecasts Weaker Demand for Can-Making Equipment
Crown Holdings, a leading provider of can-making equipment, anticipates a decline in demand for its products. The company's North American aerosol business also faces weaker prospects. Crown Holdings' sales in the fourth quarter fell short of analysts' estimates, prompting lower adjusted earnings guidance for 2024. As a result, shares plunged by 14% to $76.11 after-hours.
FMC Faces Challenges with Weaker Sales and Revenue
FMC, an agricultural science company, encountered difficulties in the fourth quarter due to destocking trends and weaker sales in Latin America. The company's revenue decline exceeded initial expectations. Moreover, FMC's 2024 outlook fell below its earlier preliminary predictions. Consequently, shares plummeted by 13% to $52.45 after-hours.
Coherent Sees Positive Demand Trends in Q2
Coherent, a leading provider of optical solutions, observed promising signs of improving demand trends in the second quarter. Despite macroeconomic uncertainty impacting visibility, the company experienced a narrower loss. Coherent also achieved consecutive strong orders for its artificial intelligence and machine learning-focused Datacom transceivers. As a result of these positive developments, shares rose by 7% to $52.90 after-hours.