?? Palantir Powers Ahead: Record Profit Fuels AI Revolution in U.S. Market
The articles and information in this newsletter are a summary of yesterday’s trading and related news. They are presented for informational purposes only. Nothing in the newsletter should be taken as investment or trading advice.
S&P 5005, 712.69-16.11 (-0.28%)
Dow Jones 41,794.60-257.59 (-0.61%)
NASDAQ 18,179.98-59.93 (-0.33%)
Market close: November 4, 2024
Breaking News
Palantir Powers Ahead: Record Profit Fuels AI Revolution in U.S. Market
?? The company reported a record $144 million profit and raised its revenue forecast, driven by high demand in the U.S. for its AI solutions. Q3 sales grew 30% to $725.5 million, exceeding analysts’ expectations, as U.S. commercial revenue surged 54% and government business jumped 40%. Yahoo Finance reports.
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EdgeUp
?? TurboClear: US agency ends investigation into Ford engine failures after recall and warranty extension. Yahoo Finance reports.
?? EV-drift: Tesla's Oct China-made EV sales fall 5.3% from a year earlier. Reuters reports.
?? InstAI: Instagram plans to use AI to catch teens lying about age. Yahoo Finance reports.
?? MetaData: Facebook, Nvidia ask US Supreme Court to spare them from securities fraud suits. Reuters reports.
?? StrikeDeal: Boeing machinists end strike after approving labor contract with 38% wage increases. CNBC reports.
?? ProfLoews: Loews' third-quarter profit jumps on investment income boost. Reuters reports.
Top 5 Movers in Early Pre-Market
(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time) Benzinga reports.
1. $BNOX: Bionomics
Total gain: 127.3%
2. $SPPL: Simpple
Total gain: 69.49%
3. $ALBT: Avalon Globocare
Total gain: 40.17%
4. $QNST: QuinStreet
Total gain: 30%
5. $GraniteShares 2x Long
Total gain: 25.82%
What’s Moving the Markets
Analyzing the markets with Richie Naso, a Wall Street veteran of over 40 years and former member of the NYSE.Big Tech Earnings & The U.S. Election
The election loomed over the markets last week, with both investors and businesses assessing potential outcomes and subsequent policy shifts. Global markets experienced mixed movements amid Big Tech earnings announcements and the U.S. Presidential election, which is days away. Analysts continue to speculate on each candidate's policies and their impacts on various sectors and industries. The tight race between Kamala Harris and Donald Trump has heightened market uncertainties, with implications for fiscal and trade policies.
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Yesterday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on November 4.
(All pricing and percent gains are based on regular market trading hours from 9:30 am to 4:00 pm Eastern Time)
1. $ADN: Advent Technologies Holdings
Total gain: +76.32%
The company is pleased to announce that its Greek subsidiary, Advanced Energy Technologies, SA, has received full approval for its requested grant of €34.5 million from the EU Innovation Fund for the RHyno Project. The Advent Renewable Hydrogen Innovative Technologies (RHyno) project aims to establish infrastructure to develop and manufacture advanced fuel cells, electrolysers, and key components, including Advent’s groundbreaking Membrane Electrode Assembly technology, on a megawatt (MW) scale. Benzinga reports.
2. $ELWS: Earlyworks Co.
Total gain: +60.25%
The stock appeared to be moving on no notable news.3. $VSTE: Vast RenewablesTotal gain: +41.88%The company recently signed a development services agreement with GGS Energy LLC to advance Project Bravo, a synthetic fuels initiative in the southwestern U.S., with the goal of achieving commercial-scale impact. Benzinga reports.
Today’s Notable Earnings
(Estimate and Actual numbers represent Earnings Per Share in US Dollars)
FYBR Frontier Communications
3Q 2024
After Market Close Estimate: -0.190
Actual: N/A
SMCI Super Micro Computer
1Q 2025
After Market Close Estimate: 0.750
Actual: N/A
VSEC VSE
3Q 2024
After Market Close Estimate: 0.690
Actual: N/A
Today’s Key Economic Dates
Time (ET) / Report / Period
8:30 am U.S. trade deficit
9:45 am S&P final U.S. services PMI
10:00 am ISM services
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Parting Thoughts
“Never underestimate the value of diversification.” ― Burton G. Malkiel
Sourced in: “A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing”, by Burton G. Malkiel, published in 1973
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