Market Movements: Palantir Joins S&P 500, Sony Unveils PS5 Pro

1. Palantir Technologies (NYSE: PLTR)
Palantir Technologies dipped mildly by -2.55%. Palantir was maintained with a Buy rating by B of A Securities and had its price target raised to $50. On August 6, Palantir reported revenue of $1.312 billion for 2024, up 23.99% year-over-year. Palantir will be included in the S&P 500 index starting September 23.

2. Block (NYSE: SQ)
Block dipped mildly by -2.58%. New Street Research initiated coverage on Block with a neutral rating and a $70.00 price target. UBS maintained a buy rating on Block with a revised target of $92.00. Block reported $121.13 billion in revenue and $6.61 billion in net profit for H1 2024.

3. Vertiv Holdings (NYSE: VRT)
Vertiv Holdings dipped mildly by -2.59%. Vertiv Holdings disclosed seven insider transactions on September 4, 2024, including an acquisition of 30,200 shares by executive Winther Karsten on September 3, 2024. Additionally, on August 23, 2024, executive Lim Cheryl H. J. sold 2,914 shares.

4. Nike (NYSE: NKE)
Nike dipped mildly by -2.62%. Nike founder Phil Knight mentioned a significant change in Steve Jobs' career. A woman in Haikou reported Nike shoes falling apart after days of use, prompting product recall. Vietnam now manufactures 50% of Nike's shoes and nearly one-third of its apparel. Jordan Brand is essential to Nike's growth in China.

5. Sony Group (NYSE: SONY)
Sony Group dipped mildly by -2.71%. Sony has officially announced the PS5 Pro, priced at $699.99, with development taking just 19 months. Additionally, Sony will not release the Xperia 5 VI this year due to changing user demands. The DualSense wireless controller has also seen a price increase of $5 in multiple locations.