Election Day Sparks Big Moves: Palantir Soars, Marqeta Plummets, and More

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On this Election Day, it’s not just the candidates making headlines. Wall Street has its own share of big winners—and losers—thanks to a mix of robust earnings, strategic updates, and sector-specific tremors. Here’s a look at today’s market movers as voters head to the polls:

Palantir Technologies (PLTR): Up 14%
Palantir’s premarket rally had investors buzzing as it posted a 30% revenue jump, comfortably beating estimates. CEO Alex Karp, never one to shy away from a bold statement, declared an “AI revolution” in the U.S., claiming Palantir will “power the winners.” The AI-driven surge raised Palantir’s full-year guidance, making clear that demand isn’t slowing down anytime soon. The market seems to agree, with the stock climbing as analysts recalculate just how much higher this AI wave could push it.

Trump Media & Technology Group (DJT): Up 9.7%
In premarket trading, Trump Media (the parent of Truth Social) continued its Election Day run, following Monday’s 12% jump. The tight race between Trump and Kamala Harris has kept speculators busy, with investors looking at everything from media influence to potential new market moves. Trump’s stake in the platform has clearly attracted election-driven trading, and as long as this close race lingers, don’t expect the buzz around DJT to die down.

Boeing (BA): Up 1.7%
After nearly eight weeks, Boeing’s union workers ended their strike, bringing the aerospace giant back into production mode. The deal—approved by 59% of employees—means higher wages, with average machinist pay climbing from around $76,000 to $119,000 annually. Shares rose as the market saw this as a positive, if expensive, resolution, marking an end to the costly delays in Boeing’s production line.

Lattice Semiconductor (LSCC): Down 17%
While Lattice Semiconductor’s Q3 earnings were in line with Wall Street expectations, the company’s decision to trim its workforce by 14% sent a chill through its share price. With fourth-quarter projections that barely meet investor expectations, it’s clear the company is reining in costs to weather a tough environment. The markets didn’t hold back, knocking the stock down as investors worry the cutbacks could signal larger structural concerns.

Astera Labs: Up 26%
This semiconductor star wasn’t shy about beating Wall Street’s forecasts, with both Q3 earnings and its Q4 outlook above estimates. As one of the few bright spots in the semiconductor sector, Astera Labs is holding its own amid broader industry cutbacks. The stock’s rally was no surprise—investors are rewarding the resilience Astera has shown in navigating a challenging market.

Marqeta (MQ): Down 40%
One of today’s more painful falls came from Marqeta, the fintech darling that issued a sharply lower Q4 forecast, citing “heightened banking scrutiny” as a factor impacting growth. The company now projects revenue growth between 10% and 12%, well below previous estimates, leading to a major selloff. For investors, this drop signals just how sensitive fintech stocks remain to regulatory shifts.

With AI optimism, Election Day hype, and a few harsh earnings surprises, today’s market movers are as varied as they are dramatic. For now, it’s anyone’s guess how the day will end—but this Election Day has already produced plenty of action for Wall Street to mull over.