Stock futures ticked up slightly on Tuesday as investors turned their attention to the crucial U.S. presidential election.

Here are some of Tuesday's biggest stock movers:

Biggest stock gainers

• Palantir Technologies (PLTR) shares surged 13% following a strong Q3 report that beat estimates across all metrics, driven by high demand for its AI software. For Q4, the company anticipates revenue of $767M to $771M, well above the $746M estimate. Additionally, Palantir raised its FY2024 guidance, now expecting revenue between $2.805B and $2.809B, up from prior estimates of $2.742B to $2.750B and higher than the consensus of $2.76B. U.S. commercial revenue is expected to exceed $687M, a 50% growth from the previous $672M target. Adjusted income from operations guidance was lifted to $1.054B to $1.058B from $966M to $974M, and adjusted free cash flow guidance was increased to over $1B from the prior $800M to $1B range.
• Hims & Hers (HIMS) rose nearly 9% after exceeding Q3 expectations and raising its FY2024 revenue guidance, boosted by a 77% Y/Y revenue jump to approximately $401.6M. The telehealth company also reported a swing to profitability, posting net income of around $76M ($0.32 per diluted share), compared to a $7.4M loss (-$0.04 per share) in Q3 2023. Hims & Hers now anticipates full-year revenue between $1.46B and $1.465B, up from its previous outlook of $1.37B to $1.4B, surpassing the consensus estimate of $1.4B.
• Emerson Electric (EMR) shares climbed over 5% after announcing a bid to acquire the remaining shares of AspenTech (AZPN) for $240 per share, reflecting a 35% premium over AspenTech’s previous closing price of $177.84 and implying a $15.1 billion enterprise value. Emerson also reported FQ4 results that exceeded Wall Street estimates, raised its dividend by 0.5%, and provided an adjusted EPS outlook for FY2025 of $5.85 to $6.05 (midpoint $5.95), surpassing the consensus estimate of $5.88.
• Shares of Trump Media and Technology Group (DJT) jumped over 11% on U.S. Election Day, building up on strong pre-market gains of 8% to 10% with heavy trading volume. On Monday, the stock closed up 12.4% at $34.34, snapping a three-day losing streak that had seen steep declines.

Biggest stock losers

• Cleveland-Cliffs (CLF) shares dropped over 7% after disappointing Q3 results, missing expectations on both revenue and profit as revenue fell nearly 19% Y/Y, and the company reported a negative gross margin. Steel product sales volume declined 6.5% year-over-year, while the average net selling price was down more than 13%. In response, Cliffs lowered its FY2024 capital expenditure forecast by $50M, now projecting a range of $600M to $650M, down from $650M to $700M. Looking ahead, the company anticipates standalone capital expenditures of around $600M for FY2025, focused on strategic growth initiatives at its Middletown, Butler, and Weirton sites.
• Despite exceeding Q3 estimates, NXP Semiconductors (NXPI) saw a 6% decline in its stock price after issuing a weaker-than-expected outlook, attributed to macroeconomic challenges in Europe and the Americas. For FQ4, NXP forecasts adjusted earnings per share between $2.93 and $3.33, with a midpoint of $3.13—well below the consensus of $3.62. Revenue guidance for the quarter ranges from $3B to $3.2B, missing the consensus of $3.36B.