Top Stocks See Mild Dips Despite Strong Earnings and Strategic Moves

1. Palantir Technologies (NYSE: PLTR)
Palantir Technologies dipped mildly by -2.55%. Citigroup and Jefferies both maintained their ratings on Palantir Technologies, raising their price targets to $28. Palantir reported Q1 2024 revenue of $634 million, an increase of 20.78% year-over-year.

2. Block (NYSE: SQ)
Block dipped mildly by -2.58%. Block reported its Second Quarter fiscal 2024 results with net revenue of $6.16 billion and adjusted EBITDA of $759 million. Bitcoin revenue for the quarter was $2.61 billion. Morgan Stanley maintained an Underweight rating with a $55 price target, while Macquarie set a target of $100.

3. Vertiv Holdings (NYSE: VRT)
Vertiv Holdings dipped mildly by -2.59%. Vertiv Holdings reported a 28.99% year-over-year increase in net profit for the first half of fiscal 2024, with revenues of $35.92 billion and net profit of $1.72 billion. Goldman Sachs maintained a Buy rating, setting a target price of $104.00.

4. Nike (NYSE: NKE)
Nike dipped mildly by -2.62%. Nike's transaction volume on July 31 reached $1.096 billion, up 73.94% from the previous day. TD Cowen maintained its hold rating on Nike and lowered the price target to $71. Nike's 2024 annual report showed revenue of $51.362 billion and net profit of $5.7 billion.

5. Sony Group (NYSE: SONY)
Sony Group dipped mildly by -2.71%. Sony acquired Bungie and initiated significant layoffs. Bungie will relocate part of its team to Sony studios, with leadership joining Sony. Bungie's CEO reportedly purchased a classic car for millions. Pixel-style VR game COMPOUND launches on PS VR2 next month.