After-hours movers:

Following a busy slate of quarterly reports, several key players saw significant price action in late-session trading. Here is a breakdown of the major movers:

The Gainers

Pinterest (PINS) +18%: The visual discovery platform surged after a "beat and raise" quarter. Q1 earnings of $0.27 per share outpaced estimates by $0.04, while revenue of $1.01 billion cleared the $965.44 million consensus. Optimism was fueled by Q2 guidance of $1.13–$1.15 billion, comfortably ahead of the $1.12 billion analyst target.

Backblaze (BLZE) +22%: Shares skyrocketed following an earnings beat and an upward revision to future guidance. The company posted revenue of $38.7 million, surpassing the expected $37.79 million.

Paramount Skydance (PSKY) +4.6%: Investors cheered a strong top-line performance. Q1 revenue hit $7.3 billion, marking a 2% year-over-year increase.

Palantir (PLTR) +1%: The data analytics firm edged higher after reporting Q1 EPS of $0.33 (beating the $0.28 estimate) on revenue of $1.63 billion, which topped the $1.54 billion consensus.

The Decliners

GeneDx (WGS) -37%: The stock plummeted after issuing soft Q2 revenue guidance. The company projects $110–$112 million, falling significantly short of the $130.3 million consensus estimate.

Duolingo (DUOL) -13%: Despite beating headline estimates, the language-learning app fell after Q2 bookings guidance ($283.5 million) missed the $288.4 million mark.

Fabrinet (FN) -10%: Even with solid EPS and revenue figures, shares retreated as the results failed to meet the lofty expectations set prior to the report.

ON Semiconductor (ON) -4%: In a "sell the news" reaction, the stock dipped despite strong results and guidance. The decline follows a massive 64% rally over the last 30 days.