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Market Dips: Palantir Sells Big, Nikes Forecast Withdrawn, Sonys PSN Woes

AInvestWednesday, Oct 2, 2024 6:00 pm ET
1min read
1. Palantir Technologies (NYSE: PLTR)
Palantir Technologies dipped mildly by -2.55%. Peter Thiel, Palantir Technologies' co-founder and chairman, recently sold nearly $600 million in company stocks, totaling over $1 billion for the year through Rivendell LLC.

2. Block (NYSE: SQ)
Block dipped mildly by -2.58%. Block reported Q2 2024 revenue of $12.113 billion, up 15.08% YOY, with net income of $6.61 billion. New Street Research initiated coverage with a Neutral rating and a $70 price target. UBS maintains a Buy rating with a revised target of $92.

3. Vertiv Holdings (NYSE: VRT)
Vertiv Holdings dipped mildly by -2.59%. Vertiv Holdings disclosed seven insider transactions on September 4, 2024, with executive Karsten Winther purchasing 30,200 shares on September 3.

4. Nike (NYSE: NKE)
Nike dipped mildly by -2.62%. Nike's Q1 revenue dropped 10% year-over-year, and the company withdrew its annual performance forecast, postponing its investor day event. Multiple firms adjusted their ratings and price targets, including Barclays, Evercore ISI Group, TD Cowen, JP Morgan, UBS, and B of A Securities.

5. Sony Group (NYSE: SONY)
Sony Group dipped mildly by -2.71%. Sony reported issues with its online gaming service, PlayStation Network, affecting game launches and purchases on PS5 and PS4. The company is working to resolve the problem swiftly.
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.