Palantir's "Unrelenting" AI Demand

And, Lucid's Saudi investment surge;

August 06, 2024

Today is Tuesday, August 6, 2024.

The Early Bird Index today is 60.58.

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Palantir's "Unrelenting" AI Demand

Good financial earnings results and strong words boosted Palantir (NYSE: PLTR) shares by 12.16% in after-hours trading on Monday.

Financials: Palantir reported earnings of 9 cents per share and revenue of $678 million; both were better than expected.

Details: The company also raised its full-year guidance as CEO Alex Karp wrote that there’s “an unrelenting wave of demand from customers for artificial intelligence systems.”

Early Bird’s Nest Egg Gains: Palantir is well-positioned to capitalize on the current AI craze due to its advanced platforms, deep government experience, and strong cash flow management.

Final Thoughts: Palantir is up 45% this year thanks to the AI wave.

Startup PromoTix ($48M in traction) is saving the events industry

PromoTix is solving the event industry’s challenges around high ticket fees and low attendance. Ticketmaster and competitors charge up to 40% of the ticket price to book, deterring guests who can’t afford the added cost. Combined with a crowded marketing space, events struggle.

PromoTix is raising funds to expand. Already profitable, with 656k users and $48M in sales in its first 30 months, PromoTix has low-fee and no-fee SaaS pricing, as well as patented marketing tools that drive attendance.

Notables

Notable Earnings Today: Caterpillar (NYSE: CAT), Uber Technologies (NYSE: UBER), Airbnb (Nasdaq: ABNB), Super Micro Computer (Nasdaq: SMCI), Rivian Automotive (Nasdaq: RIVN), Reddit (NYSE: RDDT), TripAdvisor (Nasdaq: TRIP), Celsius (Nasdaq: CELH), Wynn Resorts (Nasdaq: WYNN), Fox Corp (Nasdaq: FOXA), Baxter (NYSE: BAX), Devon Energy (NYSE: DVN), Hyatt Hotels (NYSE: H), Upstart (Nasdaq: UPST), Molson Coors Brewing (NYSE: TAP), Constellation Energy (Nasdaq: CEG), Planet Fitness (NYSE: PLNT), Fortinet (Nasdaq: FTNT), Restaurant Brands International (NYSE: QSR), Yum! Brands (NYSE: YUM), Vulcan Materials (NYSE: VMC), ATI Inc. (NYSE: ATI), Axon (Nasdaq: AXON), Instacart (Nasdaq: CART), Marathon Petroleum (NYSE: MPC), Amgen (Nasdaq: AMGN), ACADIA Pharmaceuticals (Nasdaq: ACAD), AdaptHealth (Nasdaq: AHCO), Adtalem Global Education (NYSE: ATGE), Adient (NYSE: ADNT), Alight (NYSE: ALIT), ANI Pharma (Nasdaq: ANIP), Applied Optoelectronics (Nasdaq: AAOI), Aramark (NYSE: ARMK), Aspen Technology (Nasdaq: AZPN), Astera Labs (Nasdaq: ALAB), Atkore International (NYSE: ATKR), Avient (NYSE: AVNT), Azenta (Nasdaq: AZTA), B&G Foods (NYSE: BGS), Bentley Systems (Nasdaq: BSY), Bloomin' Brands (Nasdaq: BLMN), Broadridge Financial (NYSE: BR), Bruker (Nasdaq: BRKR), Builders FirstSource (NYSE: BLDR), Clarivate (NYSE: CLVT), Certara (Nasdaq: CERT), Cirrus Logic (Nasdaq: CRUS), Clear (NYSE: YOU), Coupang (NYSE: CPNG), DaVita (NYSE: DVA), Delek US Holdings (NYSE: DK), Duke Energy (NYSE: DUK), Energizer (NYSE: ENR), EverCommerce (Nasdaq: EVCM), Fidelity National Information Services (NYSE: FIS), First Watch Restaurant Group (Nasdaq: FWRG), Flywire (Nasdaq: FLYW), Genius Sports (NYSE: GENI), GlobalFoundries (Nasdaq: GFS), Globus Medical (NYSE: GMED), GoPro (Nasdaq: GPRO), Green Plains (Nasdaq: GPRE), Grocery Outlet (Nasdaq: GO), GXO Logistics (NYSE: GXO), Halozyme Therapeutics (Nasdaq: HALO), Harmony Biosciences (Nasdaq: HRMY), Henry Schein (Nasdaq: HSIC), Hillman Solutions (Nasdaq: HLMN), IDEXX Labs (Nasdaq: IDXX), Illumina (Nasdaq: ILMN), Ingredion (NYSE: INGR), Inogen (Nasdaq: INGN), Jacobs Solutions (NYSE: J), Jones Lang LaSalle (NYSE: JLL), Kenvue (NYSE: KVUE), Knife River Corp (NYSE: KNF), LCI Industries (NYSE: LCII), Lumen Technologies (NYSE: LUMN), MPLX LP (NYSE: MPLX), Myriad Genetics (Nasdaq: MYGN), OraSure (Nasdaq: OSUR), Organon (NYSE: OGN), Owens Corning (NYSE: OC), Portillo's (Nasdaq: PTLO), Progyny (Nasdaq: PGNY), Qualys (Nasdaq: QLYS), Redfin (Nasdaq: RDFN), Revolve Group (NYSE: RVLV), Starwood Property Trust (NYSE: STWD), Stem (NYSE: STEM), Stride (NYSE: LRN), Sunrun (Nasdaq: RUN), Tempur Sealy International (NYSE: TPX), Thoughtworks (Nasdaq: TWKS), Toast (NYSE: TOST), TopBuild (NYSE: BLD), TPG Inc (Nasdaq: TPG), Transdigm Group (NYSE: TDG), Trimble (Nasdaq: TRMB), V.F. Corp (NYSE: VFC), Veeco Instruments (Nasdaq: VECO), Westlake (NYSE: WLK), WK Kellogg Co (NYSE: KLG), Zoetis (NYSE: ZTS).

Notable IPOs Today: RDE, Inc. Common Stock (Nasdaq: RSTN).

Notable Equity Crowdfunding Campaigns Ending Today: Kingdom Dim Sum (SMBX).

Notable Economic Events Today: Trade Balance / Imports / Exports (8:30 a.m. ET), EIA Short-Term Energy Outlook (12:00 p.m. ET).

Lucid's Saudi Investment Surge

Despite reporting earnings results that were lower than expected on Monday, Lucid Group (Nasdaq: LCID) jumped 5.67% in after-hours trading.

Powering the Story: Lucid announced that it got a $1.5 billion capital raise from Ayar Third Investment Company, an affiliate of the Saudi Arabia-based Public Investment Fund.

Final Thoughts: Lucid is down 27% this year due to the struggling EV market.

Avis Budget Reports Bad Results

Avis Budget Group (Nasdaq: CAR) dropped 3.51% in after-hours trading on Monday after posting bad financial earnings results.

Final Thoughts: The stock is down over 50% this year.

Welcome Back to the 80s: Is This 1987 All Over Again? What’s Driving the Market Meltdown? (Wall Street Journal)

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.