Spotify Posts Upbeat Results, Joins Palantir, ATI, Ferrari, Cummins And Other Big Stocks Moving Higher On Tuesday

U.S. stocks were mixed, with the Dow Jones index falling around 0.2% on Tuesday.

Shares of Spotify Technology S.A. SPOT rose sharply during Tuesday's session after the company reported better-than-expected fiscal fourth-quarter 2024 financial results.

Spotify reported quarterly earnings of $1.88 per share, which missed the analyst consensus estimate of $2.06. The company reported quarterly sales of $4.53 billion (4.24 billion euros), up by 16% year-on-year, which beat the analyst consensus estimate of $4.15 billion.

Spotify shares surged 11.3% to $612.56 on Tuesday.

Here are some other big stocks recording gains in today's session.

Palantir Technologies Inc. PLTR shares jumped 25% to $104.77 after the company reported better-than-expected financial results for the fourth quarter and issued strong guidance. Several analysts also lifted price targets following the print.
BlackSky Technology Inc. BKSY gained 13% to $17.11. BlackSky won EMDYN subscription contract to deliver on-demand Gen-2 space-based imagery services to international government customers.
ATI Inc. ATI gained 11.5% to $64.65 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter adjusted EPS guidance above estimates.
PJT Partners Inc. PJT climbed 11.3% to $184.02 following upbeat results.
Grab Holdings Limited GRAB gained 11.2% to $5.05 after Grab and GoTo are reportedly in merger talks.
Himax Technologies, Inc. HIMX rose 10.7% to $10.31.
Rigetti Computing, Inc. RGTI gained 9.8% to $14.79.
Lancaster Colony Corporation LANC surged 8.6% to $180.89 following strong quarterly sales.
XPeng Inc. XPEV gained 8.3% to $17.00.
Ferrari N.V. RACE rose 8% to $463.02 after the company reported better-than-expected quarterly financial results.
Cummins Inc. CMI gained 5.6% to $368.02 following fourth-quarter results.