Today is Tuesday, August 8, 2023.
The Early Bird Index today is 58.28.
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Palantir's Lucrative Three-peat
Big data analytics company Palantir Technologies (NYSE: PLTR) increased by 2.61% in after-hours trading on Monday after posting solid financial results.
Financials: Palantir reported earnings of 5 cents per share in the past quarter and revenue of $533.3 million; both were in-line and expected.
Details: Overall commercial revenue grew 10% in the quarter, while U.S. commercial revenue jumped by 20%, and government revenue increased by 15%.
Powering the Story: This marks the third consecutive quarter of profitability. Palantir also raised its revenue guidance and issued a $1 billion stock buyback. Investors were pleased to hear all of these things.
Stock Price: Palantir is up 181% in 2023, but the growth slowed to just a 10% increase in the last 30 days.
Final Thoughts: Can Palantir keep the growth up? With Palantir’s new artificial intelligence platform, stock growth is possible. Palantir is still 48% lower than its all-time high.
Notables
Notable Earnings Today: United Parcel Service (NYSE: UPS), Rivian Automotive (Nasdaq: RIVN), Eli Lilly (NYSE: LLY), AMC Entertainment (NYSE: AMC), Take-Two Interactive Software (Nasdaq: TTWO), Novavax (Nasdaq: NVAX), Datadog (Nasdaq: DDOG), Upstart (Nasdaq: UPST), Fox Corp (Nasdaq: FOXA), Bumble (Nasdaq: BMBL) Barrick Gold (NYSE: GOLD), Super Micro Computer (Nasdaq: SMCI), Medical Properties Trust (NYSE: MPW), Twilio (NYSE: TWLO), Tecnoglass Inc (NYSE: TGLS), Marathon Digital Holdings (Nasdaq: MARA), Li Auto (Nasdaq: LI), ADT (NYSE: ADT), Akamai Technologies (Nasdaq: AKAM), Allbirds (Nasdaq: BIRD), Angi (Nasdaq: ANGI), Aramark (NYSE: ARMK) Array Technologies (Nasdaq: ARRY), Bio-Techne (Nasdaq: TECH), Blink Charging (Nasdaq: BLNK), Choice Hotels (NYSE: CHH), Compass Minerals (NYSE: CMP), Coupang (NYSE: CPNG), Invitae (NYSE: NVTA), Capri Holdings (NYSE: CPRI), Jacobs Engineering (NYSE: J), Celsius (Nasdaq: CELH), Hecla Mining (NYSE: HL),Under Armour (NYSE: UAA), Cronos Group (Nasdaq: CRON), SoundHound (Nasdaq: SOUN), Luminar (Nasdaq: LAZR), Darling Ingredients (NYSE: DAR), Digital Turbine (Nasdaq: APPS), Duke Energy (NYSE: DUK), Duolingo (Nasdaq: DUOL), Dutch Bros (NYSE: BROS), Energizer (NYSE: ENR), FleetCor (NYSE: FLT), GlobalFoundries (Nasdaq: GFS), Honest Company (Nasdaq: HNST), Hostess Brands (Nasdaq: TWNK), IAC (Nasdaq: IAC), Kulicke & Soffa (Nasdaq: KLIC),Lyft (Nasdaq: LYFT), Matterport (Nasdaq: MTTR), New York Times (NYSE: NYT), Organon (NYSE: OGN), Payoneer (Nasdaq: PAYO), Perrigo (NYSE: PRGO), PubMatic (Nasdaq: PUBM), Restaurant Brands International (NYSE: QSR), Sealed Air (NYSE: SEE), SeaWorld Entertainment (NYSE: SEAS), Warner Music Group (Nasdaq: WMG), WeWork (NYSE: WE), Zoetis (NYSE: ZTS).
Notable IPOs Today: Foremost Lithium Resource & Technology Ltd. Common stock (Nasdaq: FMST), Fitell Corporation Ordinary Shares (Nasdaq: FTEL).
Notable Equity Crowdfunding Campaigns Ending Today: Butter & Crumble (SMBX).
Notable Economic Events Today: Trade Balance/Imports/Exports (8:30 a.m. ET), EIA Short-Term Energy Outlook (12:00 p.m. ET), API Weekly Crude Oil Stock (4:30 p.m. ET).
Lucid's 2023 Production Target
Photo by Daniel Salcius / Unsplash
Even though Lucid Group (Nasdaq: LCID) posted disappointing financial results on Monday, shares of the electric vehicle maker popped 2.96% in after-hours trading because the company said it is on track to manufacture more than 10,000 vehicles in 2023.
Final Thoughts: Lucid is up about 3% this year. The EV industry is still facing concerns about demand.
Chegg Embraces Generative AI
Education tech company Chegg (NYSE: NYGG) surged by 24.13% in after-hours trading on Monday after reporting positive feedback from its generative artificial intelligence tool.
Final Thoughts: Chegg, down 60% this year, previously expressed concerns about AI. The company also posted mixed financial results on Monday.
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Trends to Watch
CryptoPal: PayPal bets on crypto’s future with US-dollar-backed stablecoin (CNN)
Beyond Help: Beyond Meat cuts annual revenue forecast as faux meat demand dips (Reuters)
Last Stop: Proterra Shares Tumble 31% Following Chapter 11 Filing; Earnings Call Canceled (MarketWatch)
Indebted: US Consumer Credit Rises, Driven by Surge in Non-Revolving Debt (Bloomberg)
In Anticipation: Aptos’ APT Token Slides Ahead of $30M Unlock (CoinDesk)
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