Market Dips: Palantir Joins S&P, Blocks New Partnerships, Vertivs Revenue Surge
Thursday, Oct 24, 2024 6:00 pm ET
1min read 1. Palantir Technologies (NYSE: PLTR)
Palantir Technologies dipped mildly by -2.55%. Palantir was added to the S&P 500 in September, boosting its stock significantly. Analysts are skeptical about its future price momentum. Mizuho has an underperform rating with a $30 target. Palantir also disclosed insider trading with a director selling shares.
2. Block (NYSE: SQ)
Block dipped mildly by -2.58%. RBC Capital reiterates an outperform rating for Block with a target price of $88. Citigroup lists Block on a negative catalyst watch, citing risks to 2025 guidance. Block partners with Lyft to offer Cash App Pay for rides. BMO Capital maintains an outperform rating with a $92 target.
3. Vertiv Holdings (NYSE: VRT)
Vertiv Holdings dipped mildly by -2.59%. Vertiv Holdings' Q3 revenue increased 19% YoY to $20.74 billion, with net income rising 88% to $1.77 billion. Mizuho and B of A Securities maintained positive ratings, setting new target prices at $125.00 and $140.00, respectively. Organic orders grew approximately 17%.
4. Nike (NYSE: NKE)
Nike dipped mildly by -2.62%. Topsports International reported a 30% net profit decline, highlighting challenges in Nike and Adidas agency business. Nike renewed its partnership with NBA, WNBA, and NBA G League, extending global collaboration by 12 years. Starbucks and Nike both adopted a strategy of releasing unfavorable news to rebuild from adversity under new CEOs.
5. Sony Group (NYSE: SONY)
Sony Group dipped mildly by -2.71%. Sony holds 52.5% of the mobile CMOS market. In the U.S., 82% of PS5s sold feature a disc drive. Sony also announced a Monster Hunter-themed PS5 controller for release in Japan, and is integrating Bungie's creative teams.
Palantir Technologies dipped mildly by -2.55%. Palantir was added to the S&P 500 in September, boosting its stock significantly. Analysts are skeptical about its future price momentum. Mizuho has an underperform rating with a $30 target. Palantir also disclosed insider trading with a director selling shares.
2. Block (NYSE: SQ)
Block dipped mildly by -2.58%. RBC Capital reiterates an outperform rating for Block with a target price of $88. Citigroup lists Block on a negative catalyst watch, citing risks to 2025 guidance. Block partners with Lyft to offer Cash App Pay for rides. BMO Capital maintains an outperform rating with a $92 target.
3. Vertiv Holdings (NYSE: VRT)
Vertiv Holdings dipped mildly by -2.59%. Vertiv Holdings' Q3 revenue increased 19% YoY to $20.74 billion, with net income rising 88% to $1.77 billion. Mizuho and B of A Securities maintained positive ratings, setting new target prices at $125.00 and $140.00, respectively. Organic orders grew approximately 17%.
4. Nike (NYSE: NKE)
Nike dipped mildly by -2.62%. Topsports International reported a 30% net profit decline, highlighting challenges in Nike and Adidas agency business. Nike renewed its partnership with NBA, WNBA, and NBA G League, extending global collaboration by 12 years. Starbucks and Nike both adopted a strategy of releasing unfavorable news to rebuild from adversity under new CEOs.
5. Sony Group (NYSE: SONY)
Sony Group dipped mildly by -2.71%. Sony holds 52.5% of the mobile CMOS market. In the U.S., 82% of PS5s sold feature a disc drive. Sony also announced a Monster Hunter-themed PS5 controller for release in Japan, and is integrating Bungie's creative teams.
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