U.S. Movers: Chegg, DocuSign, NXP Semiconductors, Palantir

Scott Peters
06 Feb, 2024
New York City

Palantir Technologies surged 15.8% to $19.38 after the company reported a jump in its commercial customers.

Revenue in the fourth quarter jumped 20% to $608.4 million from $508.6 million, net income soared to $93.4 million from $30.9 million, and diluted earnings per share advanced to 4 cents from 1 cent.

The company said demand for its AI-driven and large language-based platform is "unrelenting."

The company also said the number of commercial customers increased by 55% to 221 from 143 a year ago.

The company forecasted first-quarter revenue between $612 million and $618 million and full-year revenue between $2.65 billion and $2.67 billion.

Chegg declined 7.5% to $8.60 after the online textbook platform operator estimated lower-than-expected revenue in the first quarter.

Revenue in the fourth quarter declined 8% to $188 million from $205.2 million, net income rebounded to $9.6 million from $1.9 million, and diluted earnings per share rose to 9 cents from 1 cent a year ago.

The company estimated revenue in the first quarter to range between $173 million and $175 million, gross margin between 73% and 74%, and adjusted operating earnings between $43 million and $45 million.

NXP Semiconductors rose 3% to $227.60 after the advanced semiconductor chip maker reported better-than-expected quarterly results.

Revenue in the fourth quarter increased 3% to $3.4 billion from $3.3 billion, net income declined to $703 million from $734 million, and diluted earnings per share dropped to $2.68 from $2.76 a year ago.

Revenue in the full-year increased 1% to $13.3 billion from $13.2 billion, net income was unchanged at $2.8 billion, and diluted earnings per share edged up to $10.70 from $10.55 a year ago.

DocuSign dropped  6.6% to $49.70 after the company said it plans to reduce 6% of its staff as a part of its restructuring effort to streamline its operations and reduce costs. 

The company employed about 7,336 according to its latest filling with the Securities and Exchange Commission as of end of January 2023.