Snap falls after Meta rolls out new “Instants” feature

“Here today, gone tomorrow” is a winning idea — according to Wall Street.

Shares of Snap are down nearly 5% Thursday afternoon after Meta announced Instants, a new feature and companion app that allows users to share “spontaneous, unfiltered photos” that disappearing after viewing. Remind you of anything?

Snap has fallen roughly 34% this year, while Facebook and Instagram parent company Meta has dipped 5% over the same time frame. Last week, Snap reported earnings that showed the social media company losing out on ad sales.

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Paige Oamek22m

Figma spikes after raising full-year sales outlook as the software company leverages AI for growth

Figma jumped post-market Thursday after posting impressive sales in Q1, surpassing Wall Street expectations and raising its full-year guidance.

Q1 revenue of $333.4 million (compared to analyst estimates of $316 million).
Q2 sales guidance of $348 million to $350 million (estimate: $329.7 million)
Full-year revenue between $1.422 billion and $1.428 billion (up from previous guidance of $1.37 billion).

The digital design software company is the latest company to diminish investor fears about AI-induced disruption by making the technology work for them. Like Atlassian or Datadog, Figma said it was able to use AI to its advantage, bringing more customers on-board and getting them to spend more.

In the press release, Praveer Melwani, Figma CFO, said:

"As AI gets better, Figma is accelerating and customer usage and workflows on our platform are deepening. Our platform and AI products drove faster growth for both new customer acquisition and expansion within existing accounts."

Revenue grew 46% year-over-year in Q1 2026, an acceleration from growth of 40% in Q4 2025 respectively.

Luke Kawa1h

Infleqtion reports Q1 adjusted loss; offers modest boost to full-year sales guidance

Infleqtion is falling in postmarket trading after reporting a Q1 adjusted loss from operations of $13.2 million and sales of $9.5 million.

Management modestly upgraded its sales guidance to “at least” $40 million for 2026, adding that language to enhance the target provided in early April. Revenues of $40 million would mark an increase of roughly 23% compared to the $32.5 million generated in 2025, and an acceleration from growth of 12% last year.

The company utilizes neutral atom technology to make quantum sensors used in clocks and antennas in addition to computers.

“Q1 reinforced our confidence that quantum is gaining momentum as the market shifts toward deployable systems, real applications, and measurable customer value,” said CE) Matt Kinsella. “Across computing, sensing, and software, we are seeing expanding customer activity especially in national security, space, and hybrid quantum-AI applications.

Shares are roughly flat since February 13, which is just before the company went public via a SPAC, after being down 35% near the end of March, and then up nearly 30% in mid-April.

The quantum computing space benefitted from the return of speculative appetite in April after the US and Iran agreed to a ceasefire. The cohort was later bolstered after Nvidia unveiled a suite of open models designed to leverage AI to improve calibration and error correction for quantum computers.

Luke Kawa1h

Applied Materials rallies after better-than-expected Q2 results, strong sales guidance

Shares of Applied Materials are gaining in postmarket trading after reporting robust Q2 results and a sales outlook that point to building momentum.

Net sales: $7.9 billion (estimate: $7.7 billion, guidance for $7.65 billion +/- $500 million)
Adjusted earnings per share: $2.86 (estimate: $2.68, guidance for $2.68 +/- $0.20)

For Q3, the company anticipates net sales of $8.95 billion (+/- $500 million; estimate: $8.15 billion) with adjusted EPS of $3.36 (+/- $0.20; estimate: $2.88)

“The growth in AI that Applied has been investing for is now in full force,” said CFO Brice Hill in a press release.

Management has consistently indicated that it expects demand to pick up in the second half of this year, but its first-half results have already blown away expectations by a wide margin.

All this appetite for semiconductors to support AI compute is fantastic news for companies like Applied Materials that make the equipment to produce these specialized chips.

Shares of Applied Materials closed near a record high ahead of this report, up more than 70% year-to-date.

Tasha Matsumoto

Tech powers stocks to another record close

Gains in AI-linked names helped stocks close at new record highs.

Nick Richards #13 and Isaac Okoro #35 of the Chicago Bulls celebrate after play against the Denver Nuggets during the third quarter at the United Center on February 07, 2026 in Chicago, Illinois.

Saleah Blancaflor3h

US national average gas price rises after a short-lived dip, hitting $4.53

After nearly a week of declines, the national average price for a gallon of regular gas is rising again with Memorial Day less than two weeks away.

Today, the price sits around $4.53, which is a couple of cents lower than it was last week. But with crude oil prices floating around the $100-per-barrel range, gas prices remain around their highest levels since 2022.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

The uptick comes as we get closer to Memorial Day weekend, with many drivers preparing to hit the road facing the highest price at the pump during the summer holiday in four years. GasBuddy’s Patrick De Haan told Sherwood News last month that gas could potentially hit $5 by then.

Little Relief for Drivers as National Average Dips then Rises Again

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

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