Extended Trading Highlights: Upwork and Lattice Surge as Palantir and Apple Slip

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Stocks making the biggest moves after hours: Fabrinet, Clorox, Apple, Palantir & more

Extended trading hours brought significant stock movements across a variety of sectors, driven by updated corporate guidance, quarterly earnings reports, and major acquisition announcements.

Upwork shares surged 10% after the freelance marketplace raised its financial outlook. The company projected full-year adjusted earnings between $1.45 and $1.47 per share, easily surpassing the $1.39 per share consensus estimate compiled by FactSet.

Palantir Technologies experienced a 2% decline in extended trading despite reporting third-quarter earnings that beat Wall Street expectations. Revenue for the period nearly doubled year-over-year, surpassing $2 billion for the first time. Notably, the company’s U.S. commercial revenue jumped 148% to reach $984 million, outpacing U.S. government revenue of $953 million. Looking ahead, Palantir projected approximately $2.65 billion in fourth-quarter revenue and $8.53 billion for the full year 2026.

Lattice Semiconductor saw its stock jump 8% following a strong third-quarter report that beat revenue estimates and prompted a raised forecast. The semiconductor designer forecast fourth-quarter revenue between $325 million and $345 million, well ahead of the $293 million consensus estimate tracked by LSEG. Adjusted earnings for the period are projected at 82 cents to 86 cents per share, topping the consensus estimate of 64 cents per share.

The Clorox Company added 2% after posting fiscal first-quarter results that beat expectations. The cleaning product manufacturer reported adjusted earnings of $1.55 per share on $1.91 billion in revenue, outperforming the $1.07 per share and $1.88 billion expected by analysts surveyed by LSEG, while organic sales growth also exceeded forecasts.

On Semiconductor shares fell 2% after the company announced a cash acquisition of Ferric, a power converter manufacturer, valued at $600 million plus up to $175 million in contingent consideration tied to revenue milestones. Concurrently, the company projected fourth-quarter adjusted earnings between 95 cents and $1.07 per share, matching or beating the 95 cent consensus polled by LSEG.

Apple shares dropped 2% in extended trading after the tech giant issued a disappointing margin forecast and reported fiscal fourth-quarter iPad sales that missed Wall Street expectations.

Fabrinet shares jumped more than 10% after the advanced optical packaging provider issued second-quarter guidance that beat Wall Street projections. The company expects adjusted earnings between $4.77 and $4.92 per share on revenue ranging from $1.6 billion to $1.65 billion, compared to FactSet consensus expectations of $4.43 a share on $1.48 billion in revenue.

Ibotta gained 13% after the digital promotions company issued fourth-quarter guidance that outperformed analyst expectations. The company projected revenue between $94 million and $98 million, beating the FactSet consensus estimate of $93.4 million, alongside stronger-than-expected adjusted EBITDA.