Palantir's Lucrative Three-peat

August 08, 2023

Photo by Tony Hand / Unsplash

Today is Tuesday, August 8, 2023.

The Early Bird Index today is 58.28.

New to this newsletter? Sign up here.

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.

Join 25,000+ Readers Across IB, PE, and VC (Sponsored)

World's most interesting finance newsletter, getting you caught up with what went down each week across private equity, investment banking, and the public markets. Subscribe Here

Trends to Watch

Thank you for reading!

Forward to a friend and tell them to sign up here.

Want more investing tips? Listen to the podcast.

Show Your Support: Buy Me a Coffee.

Questions or comments? Hit reply to reach out.