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Palantir Plummets 8% Despite Beating Earnings Expectations—As Markets Stumble
Palantir’s shares fell 6.6% premarket as investors questioned high tech valuations despite revenue forecast above estimates and a nearly 400% stock gain in the past year.
- On Tuesday, Palantir Technologies' shares dropped nearly 400 in premarket trading despite forecasting fourth-quarter revenue above analysts' estimates.
- Critics say the market may be overvalued, especially in AI stocks, and Goldman Sachs and Morgan Stanley chiefs warned of a correction exceeding 10% over the next two years.
- U.S. stock futures tumbled on Tuesday as investors questioned lofty technology valuations, with the CBOE Volatility Index near a two-week high.
- Companies across the U.S. stock market will need to hit expectations for profit growth to justify big gains since April, while doubts about technology monetization spurred investors to pull back after the AI-related stocks rally.
- With major reports scheduled, the rally faces renewed scrutiny with Advanced Micro Devices reporting after the bell on Tuesday and Qualcomm later in the week, after Wall Street indexes hit all-time highs last week driven by AI investments.
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The Northern Virginia Daily+2 Reposted by 2 other sources
Wall Street points lower with tech companies that fueled early week rally in retreat
Wall Street pointed toward losses before the opening bell as many of the same tech companies that lifted markets a day earlier were seeing their shares sold off. Futures for the S&P 500 slid 1% in premarket trading Tuesday, while…
Global shares slide despite lingering AI optimism
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Coverage Details
Total News Sources13
Leaning Left2Leaning Right1Center5Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
L 25%
C 63%
12%
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