Market Shifts: Key Moves in Tech, Retail, and Auto Giants!

Market BriefTuesday, Oct 22, 2024 6:00 pm ET
1min read
1. Palantir Technologies (NYSE: PLTR)
Palantir Technologies dipped mildly by -2.55%. Mizuho maintains an "Underperform" rating for Palantir with a price target of $30. Palantir disclosed insider trades, including a sale by director Lauren Elaina Friedman on October 11 and a purchase by executive Taylor Ryan D. on October 4.

2. Block (NYSE: SQ)
Block dipped mildly by -2.58%. RBC Capital reiterates an Outperform rating for Block with a $88 target price. Citigroup places Block on a 30-day negative catalyst watch but maintains a Buy rating. 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 is set to release its Third Quarter 2024 financial results on October 23. Mizuho, B of A Securities, Oppenheimer, and Evercore ISI Group have maintained positive ratings on Vertiv Holdings, adjusting price targets to $110, $130, $115, and $125, respectively.

4. Nike (NYSE: NKE)
Nike dipped mildly by -2.62%. Nike has extended its global partnership with the NBA, WNBA, and NBA G League for 12 years, reinforcing its leadership in basketball. Additionally, Apple CEO Tim Cook, a key Nike board member, has been instrumental during Nike's challenging times amid competition and declining sales.

5. Sony Group (NYSE: SONY)
Sony Group dipped mildly by -2.71%. Sony and Honda will introduce AI-assisted driving features in their jointly developed EVs, with plans for a high-end EV, "Afeela," launching in Japan and the US by 2026.