Wall Street Watch: Palantir, Block, Vertiv, Nike, and Sony Dip Amid Positive Growth Reports

1. Palantir Technologies (NYSE: PLTR)
Palantir Technologies dipped mildly by -2.55%. Palantir's Q2 revenue and net income exceeded analyst expectations, reporting $1.312 billion in revenue, a 23.99% increase year-over-year. Palantir’s AI product demand drives its growth, resulting in positive ratings and raised price targets from Raymond James and Deutsche Bank.

2. Block (NYSE: SQ)
Block dipped mildly by -2.58%. Block released its 2024 mid-year report showing a revenue of $121.13 billion, up 15.08%, and a net profit of $6.61 billion. Needham, Wells Fargo, RBC Capital, Benchmark, and BMO Capital reaffirmed their positive ratings on Block with varying target prices.

3. Vertiv Holdings (NYSE: VRT)
Vertiv Holdings dipped mildly by -2.59%. Vertiv Holdings disclosed an insider purchase of 952 shares by executive Fallon David Joseph on July 31, reported a 28.99% year-over-year increase in net profit for the first half of fiscal 2024, and saw revenues of $3.592 billion. Goldman Sachs maintains a buy rating with a $104 price target.

4. Nike (NYSE: NKE)
Nike dipped mildly by -2.62%. Nike's former executive criticizes the company's marketing strategy as a failure. Nike disclosed two insider trading transactions on August 5, 2024; Director Donahoe John sold 10,600 shares on August 1, 2024.

5. Sony Group (NYSE: SONY)
Sony Group dipped mildly by -2.71%. Sony Group plans to invest 1.8 trillion yen in growth over the next three years, including acquisitions. Additionally, Sony has decided not to make a new acquisition offer for Paramount Global. Sony and Microsoft have joined the OpenUSD Alliance for 3D format standards.