Palantir, Snap Surge on Strong Forecasts; Whirlpool, Ichor Decline in After-Hours

Shares of Palantir Technologies and Snap Inc. surged in extended trading after both companies reported better-than-expected quarterly results and issued optimistic forward-looking guidance. The moves highlighted a session where strong corporate earnings were rewarded by investors, while others fell on weaker outlooks or macroeconomic pressures.

Tech and AI Demand Drive Gains

Several technology-focused companies saw significant gains after reporting their second-quarter performance. The results suggest resilient demand in key sectors like artificial intelligence, cloud storage, and digital advertising.

• Palantir Technologies (PLTR) jumped 10% after beating earnings estimates with an EPS of $0.41. The data analytics firm raised its full-year 2026 revenue guidance to between $8.15 billion and $8.158 billion, citing strong demand for its Artificial Intelligence Platform (AIP).
• Snap Inc. (SNAP) rose 9.6% on a smaller-than-expected loss and optimistic third-quarter revenue guidance of $1.7 billion to $1.74 billion. The forecast signaled to investors that advertising demand may be stabilizing.
• ON Semiconductor (ON) gained 5% after topping Q2 expectations and issuing an upbeat Q3 forecast, reassuring markets that demand from the industrial and automotive sectors is bottoming out.
• Backblaze (BLZE) skyrocketed 16% after the cloud storage provider beat estimates and significantly raised its full-year revenue outlook, pointing to accelerating enterprise adoption.

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Mixed Results and Profit-Taking Weigh on Shares

In contrast, several other companies saw their stocks fall, driven by a mix of earnings misses, disappointing guidance, and investor profit-taking.

• Ichor Holdings (ICHR) dropped 11% despite beating Q2 estimates and issuing Q3 guidance that met expectations. The decline was attributed to profit-taking, as the semiconductor equipment supplier's stock had experienced a significant run-up in recent months.
• Whirlpool Corporation (WHR) declined 4% after missing both top- and bottom-line estimates for the second quarter, posting a loss of ($0.21) per share. The appliance maker's results reflect ongoing pressure from a soft housing market and weaker consumer discretionary spending.
• GeneDx Holdings (WGS) fell 7% after reporting a wider-than-expected Q2 loss. The company's third-quarter revenue guidance of $122–$124 million also came in below analyst consensus, overshadowing a reiterated full-year sales outlook.