This update was written automatically with AI from market data and news wire reports, and published without review by a person.
Key Takeaways
- Palantir (PLTR) delivered a massive "beat-and-raise" quarter, with Q3 revenue surging 96% year-over-year to $2.31 billion, fueled by a 148% explosion in U.S. commercial revenue.
- ON Semiconductor (ON) exceeded Q3 expectations with $1.72 billion in revenue and announced a $600 million acquisition of Ferric to bolster its AI data center power delivery capabilities.
- North Korea officially denied involvement in the record-breaking $6.3 billion Binance heist, labeling the FBI's accusations a "fabrication" while maintaining its policy opposes malicious cyber activities.
- Diamondback Energy (FANG) and Williams Companies (WMB) both topped earnings estimates, with Diamondback raising its full-year production guidance and Williams tracking toward the high end of its EBITDA targets.
Palantir Crushes Estimates as Commercial Revenue Overtakes Government
Palantir Technologies (PLTR) reported stellar third-quarter 2026 results, highlighted by total revenue of $2.31 billion, comfortably beating the $2.17 billion analyst consensus. For the first time in the company's history, U.S. commercial revenue ($984 million) surpassed U.S. government revenue, signaling a successful pivot toward enterprise AI demand.
The company significantly raised its full-year 2026 revenue guidance to a range of $8.530 billion to $8.534 billion, up from its previous outlook of approximately $8.15 billion. Palantir also projects a full-year adjusted operating profit of $5.25 billion, well above the $4.79 billion estimate, as its "Sovereign AI" movement continues to gain global momentum.
ON Semiconductor Pivots to AI with Ferric Acquisition
ON Semiconductor (ON) reported Q3 adjusted earnings of $0.90 per share, beating the $0.88 estimate, on revenue of $1.72 billion. While total revenue grew 11% year-over-year, the company's AI data center revenue skyrocketed 175%, prompting management to raise its 2030 AI data center revenue target to over $3 billion.
To accelerate this growth, onsemi announced it is acquiring Ferric, a specialist in integrated voltage regulators, for $600 million in cash. The deal is expected to close by year-end and will be immediately accretive to non-GAAP earnings, positioning onsemi as a leader in next-generation power delivery for AI processors.
North Korea Rejects Blame for $6.3 Billion Binance Hack
Following the October 29 breach of Binance, the world's largest cryptocurrency exchange, North Korea has issued a formal denial through its state news agency, KCNA. Pyongyang called the FBI's attribution of the $6.3 billion theft to the "TraderTraitor" hacking group a "fabrication" intended to tarnish the country's image.
The heist is the largest in cryptocurrency history, nearly quadrupling the previous record. Despite the denial, blockchain intelligence firms TRM Labs and Chainalysis have supported the FBI's findings, noting that the stolen assets are currently being converted into Ethereum and laundered through decentralized finance (DeFi) protocols.
Energy Sector Strength: Diamondback and Williams Top Views
Diamondback Energy (FANG) posted Q3 adjusted EPS of $5.86, beating the $5.73 forecast, and generated $2.1 billion in adjusted free cash flow. The company raised its full-year production guidance to 524 Mboe/d and increased its annual base dividend by 7.3%, reflecting strong operational efficiency in the Permian Basin.
Similarly, Williams Companies (WMB) reported adjusted EBITDA of $2.04 billion, exceeding the $1.94 billion estimate. Management noted that the company is now tracking toward the upper half of its full-year adjusted EBITDA guidance of $8.3 billion to $8.5 billion, supported by the early close of the Momentum Midstream acquisition and rising demand for natural gas infrastructure.
Automated market updates written with AI from market data and news wire reports, published without human review.