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Persons: Morgan Stanley, Apple, Tesla, it's, Bernstein, Riley, Wolfe, Stryker, BUD, JMP, Redburn, BTIG, Palantir, Goldman Sachs, Nutrien, Goldman, Cantor Fitzgerald, Cantor, Melius, Johnson, Guggenheim, it's bullish, D.A, Davidson, Meta Organizations: Apple, Apple Intelligence, Intelligence, Deutsche Bank, Deutsche, GE Aerospace, GE, Inc, Anheuser, Busch InBev, Oracle, Costco, Equity, Haemonetics, Plasma Solutions, Blood Center, Hospital Care Solutions, " Bank of America, Bank of America, UBS, Amazon, Harmony Biosciences, NTR, Nvidia, Broadcom, Johnson, Johnson Controls, ProKidney Corp
MarineMax — Shares jumped 6% after Citi upgraded shares to buy from neutral. Palantir Technologies , Dell Technologies — Shares of Palantir and Dell rallied 8% and 5%, respectively, after it was announced postmarket Friday that the stocks would join the S & P 500 index. Palantir will replace American Airlines , while Dell will replace Etsy . Summit shares soared more than 30%. United States Steel — Shares moved about 3% higher after JPMorgan upgraded the industrial stock to overweight from neutral.
Persons: Merck, Summit, , Jesse Pound, Hakyung Kim, Sarah Min, Sean Conlon Organizations: Boeing —, Citi, Technologies, Dell Technologies, Dell, American Airlines, Etsy, Summit Therapeutics, Summit, Arm Holdings, Times, Apple, United States Steel, JPMorgan, Nippon Steel, JetBlue Airways —, Bank of America, JetBlue
Palantir shares popped 14% on Monday and are trading at their highest since early 2021 after the announcement late Friday that the stock is being added to the S&P 500. Palantir and Dell are replacing American Airlines and Etsy , respectively, S&P Global said in a press release. Dell shares rose almost 4% on Monday. To join the S&P 500, a company must have reported a profit in its latest quarter and have cumulative profit over the four most-recent quarters. Tech companies have been capturing a bigger share of the S&P 500, reflecting their growing significance to the broader economy.
Persons: Alex Karp, Palantir, — CNBC's Ari Levy Organizations: Palantir Technologies, Allen, Co . Media, Technology Conference, Dell, American Airlines, P Global, Tech, Micro Computer, New York Stock Exchange Locations: Sun Valley , Idaho
Check out the companies making headlines in midday trading: Palantir Technologies , Dell Technologies — Palantir and Dell jumped 14% and nearly 4%, respectively, following the announcement after the bell Friday that both stocks would join the S & P 500 before the open on Sept. 23. Palantir is set to take American Airlines' spot, while Dell is going to replace Etsy. JetBlue Airways — The airline stock popped around 7% after Bank of America analyst Andrew Didora upgraded the firm to neutral from underperform. Cannabis stocks — Cannabis stocks moved higher after former President Donald Trump said in a Truth Social post that he will support legalizing adult marijuana use in Florida. A logo outside the Palantir Technologies pavilion ahead of the World Economic Forum in Davos, Switzerland, on Jan. 15, 2024.
Persons: Dell, Merck's, Andrew Didora, Didora, Arm's, Donald Trump, , Alex Harring, Hakyung Kim, Yun Li, Jesse Pound, Michelle Fox, Stefan Wermuth Organizations: Palantir Technologies, Dell Technologies, American Airlines, Etsy, Therapeutics, Merck, JetBlue Airways —, Bank of America, JetBlue, Boeing, Citi, Federal Reserve, Arm Holdings, Financial, Apple, Monday, United States Steel, JPMorgan, Nippon Steel, Tilray Brands, Cannabis ETF, Economic, Bloomberg, Getty Locations: Florida, Davos, Switzerland
CNN —Dozens of business leaders are throwing their weight behind Vice President Kamala Harris, saying she is the stronger candidate for the American economy and the future of democracy. In a three-page letter, a group of 88 business leaders — including high-profile current and former executives from major public companies across tech, media, and finance — emphasized that they believe a Harris administration can better nurture the private sector. The endorsements underscore the support Harris has not only in Silicon Valley, a traditional Democratic stronghold, but in some corners on Wall Street and at some consumer-facing companies. On the campaign trail, Harris has positioned herself as perhaps friendlier to business than President Joe Biden. The letter is a vote of confidence for Harris as she and former President Donald Trump appear neck and neck ahead of the November election.
Persons: Kamala Harris, , Harris, , James Murdoch, Mark Cuban, Reid Hoffman, Rupert Murdoch, Michael Lynton, Jeremy Stoppelman, Hoffman, Jeff Lawson, Laurene Powell Jobs, Peter Chernin, Jeffrey Katzenberg, Joe Biden, Trump, Elon Musk, David Sacks, San Francisco, Doug Leone, Joe Lonsdale, Peter Thiel, Donald Trump Organizations: CNN, CNBC, Democratic, Century Fox, Emerson Collective, TCG, Fox, Walt Disney Studios, Trump, San, Republican National Convention, America PAC, Sequoia Capital, Palantir, ABC Locations: Silicon Valley, United States
Dell and Palantir to join S&P 500; shares of both jump
  + stars: | 2024-09-06 | by ( Jordan Novet | ) www.cnbc.com   time to read: +3 min
Dell and Palantir both jumped about 7% in extended trading Friday after S&P Global announced that the companies would join the S&P 500 index. Software maker Palantir will take the place of American Airlines , and Dell is replacing Etsy , according to a statement. Dell told investors Aug. 29 that it saw $3.2 billion in AI server demand in the quarter ended Aug. 2, up 23% from the prior quarter. Palantir has a market cap of over $67 billion, while Dell is valued at over $72 billion. In an early Friday email, the Bank of America trading desk named Workday among its top candidates for S&P inclusion, alongside Palantir.
Persons: Dell, Palantir, Michael Dell, Lake, Alex Karp, it's, Karp, — CNBC's Ari Levy Organizations: P Global, American Airlines, Dell, Micro Computer, New York Stock Exchange, New York Times, Bank of America, & ' $
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailL3Harris CEO on subcontracting with Palantir, global geopolitical risks and defense sector outlookChris Kubasik, L3Harris Technologies CEO, joins 'Closing Bell: Overtime' to discuss subcontracting with Palantir, global geopolitical risks and defense sector outlook.
Persons: Chris Kubasik Organizations: L3Harris
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Rep. Gallagher on joining Palantir: Continue my mission to prevent WW3 in the private sectorMike Gallagher, Palantir head of defense and former U.S. Congressman (R-Wis.), joins 'Squawk Box' to discuss his decision to join Palantir, state of U.S.-China relations, fate of the TikTok bill, and more.
Persons: Gallagher, Mike Gallagher, Palantir Organizations: Palantir Locations: Palantir, U.S, China
There's still plenty of top technology stocks to buy even as the market unease continues, according to Bank of America. Apple Services saw record revenue, leading Mohan to conclude there's plenty of upside ahead for Apple shares as new products debut in September. Apple shares are down about 3% this month. Meanwhile, Netflix shares are down almost 8% over the last month. Palantir "PLTR's dominant position in the AI-powered software market, differentiated end-to-end, ontology-powered & highly secure solutions and first mover advantages should support revenue growth and improving profits in the midterm.
Persons: Palantir, Wamsi Mohan, Tim Cook, Mohan, Jessica Reif Ehrlich, Reif Ehrlich, BofA, Uber, Justin Post, Post, he's bullish, Nvidia, Blackwell Organizations: Bank of America, CNBC, Netflix, Nvidia, Apple, Apple Intelligence, Apple Services, Post, Uber, intel, TAM Locations: Bank
In today's big story, turns out being a venture capitalist can be really hard, and some VCs want out . The big storyWe were promised big returnsiStock; Rebecca Zisser/InsiderFor venture capitalists, when the going gets tough, the tough get going…toward the exits. Some VC workers are reconsidering their future as the industry goes through a rough patch, writes Business Insider's Sri Muppidi. The ink was barely dry on a deal before startups were raising another round, doubling their VCs' investment (on paper) along the way. One Bay Area partner told Sri junior investors need to meet dozens of companies a week.
Persons: , Rebecca Zisser, It's, That's, VCs, dobi, Goldman Sachs, duMond, Chip Somodevilla, Alyssa Powell, Jamie Dimon, we're, Jamie, David Zalubowski, Chelsea Jia Feng, Meta's Instagram, Grzegorz Wajda, Elon Musk, Musk's X, he's, Grimes, Sam Altman, Kamala Harris, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Amanda Yen Organizations: Service, Business, VCs, Tiger Global, Area, JPMorgan, YouTube, Dell, Getty, Elon, Federation, Global Alliance, Responsible Media, UK Prime, Democratic, Trump, Disney Locations: Patagonia, Dimon, Anaheim , California, North Carolina, Virginia, New York, London
Alex Karp, CEO of Palantir Technologies, walks to the morning session at the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on July 10, 2024. Palantir shares closed up 11% on Thursday after the company announced a partnership with Microsoft to sell secure cloud, analytics and artificial intelligence capabilities to the U.S. defense and intelligence communities. Palantir reported earnings earlier in the week, raising its annual revenue forecast to between $2.74 billion and $2.75 billion, from $2.68 billion to $2.69 billion. Microsoft said the partnership would allow U.S. defense and intelligence organizations to build AI tools for action plans and logistics, among other things. Palantir, co-founded by billionaire Peter Thiel, will work with Microsoft to provide trial services and training sessions.
Persons: Alex Karp, Peter Thiel, Palantir Organizations: Palantir Technologies, Allen, Co . Media, Technology Conference, Microsoft, Foundry, Apollo, AIP, intel Locations: Sun Valley , Idaho, Gotham
While several tech giants have taken a hit amid the crushed hype around artificial intelligence, Palantir Technologies is an AI beneficiary that is here to stay, according to Bank of America. "We liken the market, industry, and investor attitudes toward AI to that of the California gold rush," Mora wrote in a Tuesday note to clients, adding that the "AI rush" appears to have run dry given the recent tech sell-off. "As it was with the gold rush, the real benefactors were the entrepreneurs that supported the rush. "PLTR is well-positioned as enriched data, connectivity, and interoperability are what define the new era of defense," the analyst said. The firm kept its underweight rating and $20 price target on the stock.
Persons: Mariana Mora, Mora, , Palantir, Morgan Stanley Organizations: Technologies, Bank of America, Chief, Artificial Intelligence, Department of Defense, Applications Government, U.S ., Deutsche Bank Locations: California
Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Caterpillar : The industrial giant's second-quarter results beat Wall Street estimates on the top and bottom lines. While the stock has been in both positive and negative territory Tuesday, Jim Cramer said, "I happen to like the quarter." Uber : Shares jumped more than 8% after the ride-hailing provider reported stronger-than-expected quarterly results. Kenvue : The maker of Listerine and Tylenol reported quarterly sales and per-share profits ahead of Wall Street expectations.
Persons: Jim Cramer's, Jim Cramer, Piper Sandler, Delta, Cramer, Jim, Dara Khosrowshahi Organizations: CNBC, Club, Caterpillar, Wall Locations: U.S
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTuesday's rapid fire: Caterpillar, CrowdStrike, Uber, Palantir and KenvueCNBC's Jim Cramer on Tuesday examined notable stock moves outside the Investing Club portfolio.
Persons: Kenvue CNBC's Jim Cramer
Check out the companies making the biggest moves midday: Kenvue — The maker of Band-Aid bandages rallied 14% after beating analysts' estimates for its second quarter. Kenvue, which spun off from Johnson & Johnson last year, posted adjusted earnings of 32 cents per share, versus the 28 cents expected from analysts polled by FactSet. Palantir now anticipates revenue between $2.742 billion and $2.750 billion, up from its previous guidance of $2.68 billion to $2.69 billion. Caterpillar's adjusted earnings totaled $5.99 per share in the second quarter, beating the $5.55 per share estimate from analysts polled by FactSet. CrowdStrike — Shares rose 3% after Piper Sandler upgraded CrowdStrike to overweight from neutral, saying the dip in the cybersecurity stock following the global tech outage is a buying opportunity.
Persons: Johnson, FactSet, Taco Bell, ZoomInfo, LSEG, Lucid, BioMarin, CrowdStrike, Piper Sandler, , Sarah Min, Sean Conlon, Yun Li, Jesse Pound Organizations: Johnson, FactSet, Revenue, Caterpillar, Lumen Technologies, Molson Coors Beverage —, Technologies, LSEG, Taco, CSX —, CSX, BioMarin Pharmaceutical Locations: China, Shanghai
Here are Tuesday's biggest calls on Wall Street: Stifel initiates GE Healthcare as buy Stifel said it's bullish on shares of the GE spin-off. Rosenblatt reiterates Nvidia as buy Rosenblatt said concerns about delays in the company's Blackwell chip are overdone. " JPMorgan downgrades Carlyle Group to neutral from overweight JPMorgan said it sees better value elsewhere. Morgan Stanley reiterates Apple as overweight Morgan Stanley said Monday's DOJ ruling on Alphabet is a negative for Apple. JPMorgan upgrades Sonic Automotive to overweight from neutral JPMorgan said investors should buy the dip in the auto company.
Persons: Stifel, it's, Morgan Stanley, Rosenblatt, Blackwell, JPMorgan, Carlyle, Piper Sandler, Piper, Palantir, KeyBanc, D.A, Davidson, Apple, GOOGL, SAH, underperform Macquarie Organizations: GE Healthcare, GE, Taiwan Semiconductor, JPMorgan, Barclays, Nvidia, Blackwell, Royal, JPMorgan downgrades Carlyle Group, Bank of America, Artificial Intelligence, Micron, Apollo, of America, Apollo Global Management, APO, Meta, Retail Media, DOJ, Apple, Aspen, Sonic Automotive, SS, UBS, Walmart, Northland, Honest, Honest Company, Macquarie, underperform Locations: Royal Caribbean, GOOGL, EVs, China
Check out the companies making headlines before the bell: Palantir Technologies — The data analytics company rallied 11% after raising its full-year revenue forecast. Yum China — Shares surged 8% after the Shanghai-based operator behind Pizza Hut and Taco Bell posted second-quarter earnings that beat expectations. Adjusted earnings of 55 cents per share topped the 47 cents per share anticipated by analysts surveyed by LSEG. Earnings came in at 47 cents per share, topping the 31 cents expected from analysts polled by LSEG. CSX reported earnings of 49 cents per share in the second quarter, above the 48 cents anticipated by analysts in an LSEG survey.
Persons: Taco Bell, Piper Sandler, ZoomInfo, LSEG, Lucid, — CNBC's Michelle Fox, Fred Imbert, Jesse Pound Organizations: Technologies, Taco, LSEG, Revenue, Caterpillar, Nvidia, Micro Computer, Broadcom, Intel, CSX Locations: China, Shanghai
Check out the companies making headlines in midday trading: Crypto stocks — Several bitcoin-related names were hit following the cryptocurrency's drop below $50,000 for the first time since February. Apple — The tech stock dropped more than 5% in the broad market sell-off after news that Warren Buffett's Berkshire Hathaway dumped half its stake in the iPhone maker. Palantir — The software stock fell more than 4% ahead of the company's s quarterly results. Tech stocks — Major tech names dropped during Monday's sell-off. According to LSEG, analysts are expecting a loss of 26 cents per share on revenue of $192 million.
Persons: Robinhood, MicroStrategy, Warren, Berkshire Hathaway, Tyson, Tyson Foods, , Samantha Subin, Yun Li, Sarah Min, Darla Mercado Organizations: Nvidia, Computer, Micro Computer, Semiconductor, VanEck Semiconductor, Micron Technology, Taiwan Semiconductor Manufacturing, Arm Holdings, Apple, Oracle, Tech, Microsoft, Facebook, Meta, Intel —, FactSet, GameStop Locations: Berkshire, Omaha, FactSet .
Palantir posted adjusted earnings of 9 cents per share on $678 million in revenue. Lucid Group — Shares surged 6% after second-quarter estimates surpassed Wall Street estimates. The electric vehicle company reported revenue of $200.6 million , while analysts polled by LSEG forecast $192 million. CSX notched earnings of 49 cents per share in the second quarter, while analysts polled by LSEG expected 48 cents a share. Simon Property Group topped second-quarter revenue estimates, but posted in-line earnings.
Persons: Palantir, LSEG, AeroSystems, CNBC's Brian Evans, Sarah Min Organizations: Palantir Technologies, Wall, LSEG, CSX Corp, CSX, Semiconductor, Nvidia, Computer, Broadcom, Arm Holdings, Intel, Boeing, Avis Budget, Technologies, ZoomInfo Technologies, Simon Property, Simon Property Group Locations: LSEG .
S&P 500 futures bounced in overnight trading after the broad index notched its worst day in nearly two years as global markets sold off. Futures tied to the S&P 500 rose 0.9%, while Nasdaq 100 futures rallied 1.2%. The 30-stock Dow dropped 1,033.99 points, or 2.6%, while the S&P 500 slid 3%. These fears spilled over into global markets, with Japan's Nikkei 225 index registering its worst daily decline since Black Monday in 1987. The Dow, S&P 500 and Nasdaq are down 5%, 6% and 8% respectively in three days, their worst 3-day performance in more than two years.
Persons: Dow, Quincy Krosby, LPL, Tesla, It's, Keith Lerner, Truist's Organizations: New York Stock Exchange, Futures, Nasdaq, Dow Jones Industrial, Federal Reserve, Japan's Nikkei, Treasury, Bank of Japan, Nvidia, Apple, VanEck Semiconductor, Traders, Palantir Technologies, Lucid Group Locations: New York City
Check out the companies making headlines before the bell: Chip stocks — Nvidia shares fell roughly 12.5% in premarket trading as the artificial intelligence trade continues to unwind, dragging down once-hot semiconductor plays. Apple — Apple shares sank more than 6% after Warren Buffett's Berkshire Hathaway revealed it sold nearly half its stake in the iPhone maker. Tech stocks — Major tech stocks were among the biggest losers of Monday's global market sell-off. Analysts polled by FactSet forecast a loss of 27 cents per share for the second quarter on $190.3 million in revenue. Crypto — Stocks tied to the price of bitcoin were among the hardest hit in premarket trading as the flagship cryptocurrency dropped below $50,000 for the first time this year.
Persons: Warren Buffett's Berkshire Hathaway, Tesla, Crypto, Stocks, Coinbase, MicroStrategy, Palantir, Macheel, Samantha Subin, Jesse Pound, Brian Evans Organizations: Nvidia, Broadcom, Computer, Arm Holdings, Apple, Tech, Facebook, Microsoft, FactSet, Reuters, Street Journal, Marathon
Alex Karp, CEO of Palantir Technologies poses beside the company's logo ahead of an interview with Reuters in the Alpine resort of Davos, Switzerland May 23, 2022. Palantir Technologies raised its annual revenue forecast for the second time this year on Monday, the latest sign that the generative AI boom is driving demand for its software services. The company co-founded by billionaire Peter Thiel now expects annual revenue between $2.74 billion and $2.75 billion, compared with $2.68 billion to $2.69 billion expected earlier. It also raised its annual revenue expectation from U.S.-based companies by $11 million, to $672 million. The company forecast third-quarter revenue between $697 million and $701 million, compared to analysts' average estimate of $679.1 million, according to LSEG data.
Persons: Alex Karp, Peter Thiel, Ryan Taylor, Reuters Palantir, Karp Organizations: Palantir Technologies, Reuters, Big Tech, Microsoft, Palantir Locations: Davos, Switzerland
3-Stock Lunch: Nvidia, Kellanova and Palantir
  + stars: | 2024-08-05 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email3-Stock Lunch: Nvidia, Kellanova and PalantirBoris Schlossberg, BK Asset Management managing director, joins 'Power Lunch' to discuss stock plays for three stocks.
Persons: Boris Schlossberg Organizations: Nvidia, BK Asset Management
Stocks had a rough week, topped off with a pummeling Friday after the July jobs data came in weaker than expected. Until then, bad economic news was good news for the stock market, because it meant the Federal Reserve would start cutting interest rates sooner. On Thursday, a drop in U.S. manufacturing activity for July and a jump in initial jobless claims dragged down the market. Next week is light on economic data, so expect earnings reports and CEO commentaries to drive the market action. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Stocks, Dow Jones, Jim Cramer, would've, Eli Lilly, Mounjaro, Berkshire Hathaway, Krystal, Tyson, BAX, Owens, Walt, Oscar Health, CRON, Krispy, Papa, Jim Cramer's, Jim Organizations: Nasdaq, Dow, Reserve, Broadcom, Devices, Palo Alto, PMI, Wynn Resorts, Investors, Wynn, Wynn Palace, U.S . Disney, Management, and Drug Administration, Carlyle Group, Krystal Biotech, Tyson Foods, TSN, Alpha Metallurgical Resources, BioCryst Pharmaceuticals, Axsome Therapeutics, Technologies, Clover Health, Realty Income Corp, Avis Budget Group, CSX Corp, CSX, Simon Property Group, Sterling Construction Company, Teradata Corp, Yum China Holdings, ZoomInfo Technologies, Holdings, Caterpillar, Baxter International, Vulcan Materials Company, Allegheny Technologies Incorporated, Constellation Energy Group, Marathon Petroleum Corp, Owens Corning Inc, Duke Energy Corp, GXO Logistics, Brands, Builders, Wynn Resorts Ltd, WYNN, Rivian Automotive, Devon Energy Corp, GigaCloud Technology Inc, Lumen Technologies, VF Corp, Walt Disney Co, Novo Nordisk, CVS Health, Aurora Cannabis Inc, Emerson Electric Co, Sony Group Corporation, SONY, Inc, ODP Corporation, Icahn Enterprises, MannKind Corp, ACM Research, Brink's Company, AppLovin Corporation, Digital Turbine, Sarepta Therapeutics, Occidental Petroleum Corp, Bros, SolarEdge Technologies, Aspen, Coeur D'Alene Mines Corp, Co, Vistra Energy, Cheniere Energy, Cronos, Himax Technologies, Properties Trust, Papa John's, Paramount Global, Trade, Lab, B2Gold Corp, Honest Company, Gilead Sciences, Growth, Nikola Corporation, Embraer, New Fortress Energy, Construction, Jim Cramer's Charitable, CNBC, Disney, Pixar Locations: Palo, Macau, Las Vegas, Boston, Vegas, Wynn Macau, China, Novo, Coeur, Gilead
How do I start?”The ad then displays a website for a group called America PAC. “I have created a PAC, or a super PAC ... the America PAC,” Musk said in a recent interview. But what is unique about America PAC’s project is who is backing it and the timing of its creation. The America PAC raised over $8 million between April 1 and June 30, according to FEC records. He recently said on X that he is “making some donations to America PAC,” but did not say how much.
Persons: , Donald Trump, Trump, they’ll, Elon Musk, Kamala Harris, ” Musk, Musk, , Brendan Fischer, Fischer, ” Fischer, Phil Cox, Generra Peck, Dave Rexrode, Doug Leone, Cameron, Tyler Winklevoss, Joe Lonsdale, Lonsdale, Harris, Daniel Weiner, Brennan, Matthew Baum, Baum, Weiner Organizations: Google, America PAC, Tesla, Republican, Democratic, Forbes, PAC, Facebook, YouTube, America, “ America PAC, Trump, The New York Times, FEC, Harvard Kennedy School Locations: Michigan, California, Wyoming, Pennsylvania, Georgia, Arizona , Michigan, North Carolina , Nevada , Pennsylvania, Wisconsin, America, Trump
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