Today is Tuesday, February 14, 2023.
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Palantir's Significant Moment
Financial results showed that Palantir Technologies (NYSE: PLTR) is finally profitable, which sent shares up 16.82% in after-hours trading on Monday.
Financials: Palantir reported earnings of 4 cents per share in the quarter and revenue of $508.62 million; both were better than expected.
Big Growth: Total revenues are up 18% year-over-year, including an 11% increase in commercial revenue and a 23% increase in government revenue. The customer count also grew by 55%.
Quote: “With this result, Palantir is profitable. This is a significant moment for us and our supporters.” - Alex Karp, co-founder and CEO of Palantir.
Stock Price: Shares of Palantir are down 42% in the last 12 months, but are up 7% in the last 30 days.
Final Thoughts: Once considered a meme stock, Palantir has recovered to put up positive financials. Although not considered a value stock, Palantir’s position looks impressive to many investors.
Notable Earnings Today: Coca-Cola (NYSE: KO), Devon Energy (NYSE: DVN), Cleveland-Cliffs (NYSE: CLF), Airbnb (Nasdaq: ABNB), Peabody Energy (NYSE: BTU), Upstart (Nasdaq: UPST), Marriott International (Nasdaq: MAR), Nu Holdings (NYSE: NU), Ecolab (NYSE: ECL), Livent (NYSE: LTHM), TransUnion (NYSE: TRU), TripAdvisor (Nasdaq: TRIP), Inmode (Nasdaq: INMD), Suncor Energy (NYSE: SU), Herbalife Nutrition (NYSE: HLF), Herc Holdings (NYSE: JRI), Andersons (Nasdaq: ANDE), Entegris (Nasdaq: ENTG), Nerdwallet (Nasdaq: NRDS), Akamai Technologies (Nasdaq: AKAM), Comstock Resources (NYSE: CRK), Conduent (Nasdaq: CNDT), Godaddy (NYSE: GDDY), GlobalFoundries (Nasdaq: GFS), GXO Logistics (NYSE: GXO), Howmet Aerospace (NYSE: HWM), Restaurant Brands International (NYSE: QSR), Service Corp. (NYSE: SCI), Zoetis (NYSE: ZTS).
Notable IPOs Today: INTENSITY THERAPEUTICS, INC. (Nasdaq: INTS), Mars Acquisition Corp. Unit (Nasdaq: MARXU), Distoken Acquisition Corporation Unit (Nasdaq: DISTU), Bullfrog AI Holdings, Inc. Common Stock (Nasdaq: BFRG).
Notable Equity Crowdfunding Campaigns Ending Today: Voca App (StartEngine).
Notable Economic Events Today: OPEC Monthly Report (7:00 a.m. ET), CPI (8:30 a.m. ET), Core CPI (8:30 a.m. ET), API Weekly Crude Oil Stock (4:30 p.m. ET).
Avis Budget Group’s Strong Holiday Travel
Photo by Abhishek Umrao / Unsplash
Avis Budget Group (Nasdaq: CAR) reported positive financial results on Monday, resulting in the shares rising by 3.54%.
Financials: Avis Budget reported earnings of $10.46 per share in the quarter and revenue of $2.77 billion; both were better than expected.
Details: Revenues in the quarter hit a record. The company attributed its surging revenue due to strong demand from both its commercial business and leisure holiday travel. Avis Budget said that its fourth-quarter demand performed well above 2019 levels.
Stock Price: Shares of Avis Budget Group are up 33% in the last 12 months.
Final Thoughts: It has been several quarters in a row of strong results for Avis Budget. The stock also has a good price-to-earnings ratio, meaning that it’s a value stock.
Curve DAO Token Surges
On a day when the prices of most cryptocurrencies stayed flat or dipped, the price of the Curve DAO Token jumped 12%.
Final Thoughts: It seems that the Curve DAO Token has benefited while the rest of the crypto market deals with the fallout of potential regulation against stablecoins.
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Trends to Watch
Total 90s Vibes: NBC Sports hopes to make an aggressive bid to bring back the NBA, sources say (CNBC)
Big Drop: G1 Therapeutics to halt drug trial in colon cancer, shares plunge (Reuters)
iRobots Taking Our Jobs: Second round of layoffs hits iRobot as Amazon deal is still pending (The Boston Globe)
Shifting Power: How the SEC Could Reshape Ethereum’s Staking Landscape for the Better (CoinDesk)
Logical: ContextLogic stock soars 40% on Citron bullish tweet (Seeking Alpha)
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