Biggest stock movers Tuesday: PLTR, HIMS, and more

Stock futures inched higher in the premarket hours of Tuesday as market participants monitored the latest round of corporate earnings reports.

Here are some of Tuesday’s biggest stock movers:

Biggest stock gainers

Palantir Technologies (NASDAQ:PLTR) +5% – Shares climbed after the company crushed Q2 expectations with 48% Y/Y revenue growth and raised its FY2025 guidance. The strong performance was fueled by a 93% surge in U.S. commercial sales and a 53% rise in government contracts. For Q3, the company expects revenue of $1.08B–$1.09B (vs. $985M est.) and adjusted operating profit of $493M–$497M (vs. $417M est.). It also lifted its FY2025 revenue outlook to $4.14B–$4.15B vs. the prior view of $3.89B to $3.9B and the consensus of $3.91B. It expects $1.8B–$2B in adjusted free cash flow, with U.S. commercial revenue topping $1.3B.
STAAR Surgical (NASDAQ:STAA) +45% – Shares soared after Alcon announced a deal to acquire the company for $28/share in cash, valuing STAAR at ~$1.5B. The offer represents a 59% premium to STAAR’s 90-day VWAP and a 51% premium to its August 4 closing price. The deal is expected to close within 6–12 months and become accretive to Alcon’s earnings by year two.

Hims & Hers Health (NYSE:HIMS) -13% – Shares fell after Q2 revenue missed expectations, impacted by hurdles in the compounded obesity drug market. The digital health platform reported revenue of $544.8M, down 7% sequentially and below the $552.1M consensus, though up 73% Y/Y. A slowdown in compounded GLP-1 sales weighed on results. For Q3, HIMS guided for revenue of $570M–$590M (vs. $584.1M consensus) and reaffirmed its full-year outlook of $2.3B–$2.4B.
Vertex Pharmaceuticals (NASDAQ:VRTX) -14% – Shares tumbled after the company’s investigational pain drug, VX-993, failed to meet the primary endpoint in a Phase 2 trial for acute post-surgical pain. The NaV1.8 inhibitor did not show statistically significant improvement over placebo in reducing pain after bunionectomy surgery (p=0.119), despite a numerically higher pain reduction score at the highest dose (74.5 vs. 50.2). Vertex said VX-993 won’t be advanced as a monotherapy, as it does not outperform existing NaV1.8 inhibitors. Separately, Vertex reported upbeat Q2 results and maintained its full-year revenue guidance.