By Connor Hart

Palantir Technologies blew past Wall Street's expectations for the fourth quarter as demand for its artificial-intelligence products continued to expand. The software company notched revenue of $828 million, up 36% from last year and ahead of the $776 million that analysts polled by FactSet were expecting. The beat was driven by momentum in the company's U.S. business, which grew 52% year-over-year. For 2025, Palantir forecast revenue of $3.741 billion to $3.757 billion, above the $3.503 billion that analysts had modeled. Shares jump 22%, to $102.40, in after-hours trading.

Synaptics Chief Executive Michael Hurlston stepped down from the company's top role to become chief executive and president of Lumentum. Hurlston left the artificial-intelligence company to start as head of Lumentum on Friday, according to Lumentum, which makes products for cloud and AI applications. Synaptics' board launched a search for a new top executive and said Ken Rizvi, its chief financial officer, will step in as interim CEO. Shares fall 5.9%, to $80, in post-market trading.

J&J Snack Foods logged lower revenue and profit in its fiscal first quarter, and cited near-term challenges including higher input costs and foreign-exchange headwinds. The maker of Super Pretzels soft pretzels, Dippin' Dots ice cream and Icee beverages posted adjusted earnings of 33 cents a share on revenue of $362.6 million, compared with analyst expectations for adjusted earnings of 59 cents a share on revenue of $360.9 million. Chief Executive Dan Fachner said the quarter was hurt by near-term challenges, such as a less favorable sales mix and higher input costs that weren't fully covered with price increases. Shares fall 5%, to $126, in after-hours trading.

Serina Therapeutics closed on a $5 million tranche of equity financing. The company said it successfully closed the second tranche on a $10 million equity financing agreement with strategic shareholder JuvVentures (UK). The proceeds will be used to continue advancing its SER-252, or POZ-apomorphine, into a Phase 1 clinical trial in advanced Parkinson's disease patients in the second half of this year. Shares climb 11%, to $5.48, in post-market trading.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

February 03, 2025 18:32 ET (23:32 GMT)

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