Stock Market Movers: Palantir Joins S&P 500, Arm Holdings Tops European Pick
Monday, Sep 9, 2024 6:30 pm ET
1min read 1. Palantir Technologies (NYSE: PLTR)
Palantir Technologies surged by 14.05%. Palantir has been included in the S&P 500 index effective September 23. Wedbush reiterated its Outperform rating on Palantir with a target price of $38. Palantir disclosed multiple insider transactions in late August and early September. Northland Capital Markets initiated coverage with a Market Perform rating.
2. Arm Holdings Plc (Nasdaq: ARM)
Arm Holdings Plc surged by 7.03%. Morgan Stanley has replaced ASML Holding with Arm Holdings as its top European semiconductor pick. Additionally, Intel has sold its entire stake in Arm Holdings. Arm Holdings will hold its annual general meeting of shareholders on September 11, 2024.
3. Coinbase Global (Nasdaq: COIN)
Coinbase Global gained solidly by 5.23%. Coinbase Global reported Q2 2024 revenue of $3.087 billion, up 108.53% YoY, with a net profit of $1.212 billion. Barclays upgraded Coinbase Global to Equal-Weight with a price target of $169.00. Multiple insider trading disclosures occurred from August to September 2024.
4. Monster Beverage (Nasdaq: MNST)
Monster Beverage gained solidly by 4.3%. Monster Beverage announced Q2 earnings with revenue of $3.8 billion, up 6.92%, and net profit of $867 million. Monster Beverage will release Ultra Vice Guava in October and supply Europe, Middle East, and Africa from its Ireland factory to reduce costs.
5. Marvell Technology (Nasdaq: MRVL)
Marvell Technology gained solidly by 4.12%. Marvell Technology collaborated with Lumentum and Coherent to showcase the first 800G ZR/ZR+ pluggable module for 500km DCI. The company reported Q2 2025 earnings with revenue of $2.34 billion and a net loss of $409 million. Multiple firms reiterated their ratings.
Palantir Technologies surged by 14.05%. Palantir has been included in the S&P 500 index effective September 23. Wedbush reiterated its Outperform rating on Palantir with a target price of $38. Palantir disclosed multiple insider transactions in late August and early September. Northland Capital Markets initiated coverage with a Market Perform rating.
2. Arm Holdings Plc (Nasdaq: ARM)
Arm Holdings Plc surged by 7.03%. Morgan Stanley has replaced ASML Holding with Arm Holdings as its top European semiconductor pick. Additionally, Intel has sold its entire stake in Arm Holdings. Arm Holdings will hold its annual general meeting of shareholders on September 11, 2024.
3. Coinbase Global (Nasdaq: COIN)
Coinbase Global gained solidly by 5.23%. Coinbase Global reported Q2 2024 revenue of $3.087 billion, up 108.53% YoY, with a net profit of $1.212 billion. Barclays upgraded Coinbase Global to Equal-Weight with a price target of $169.00. Multiple insider trading disclosures occurred from August to September 2024.
4. Monster Beverage (Nasdaq: MNST)
Monster Beverage gained solidly by 4.3%. Monster Beverage announced Q2 earnings with revenue of $3.8 billion, up 6.92%, and net profit of $867 million. Monster Beverage will release Ultra Vice Guava in October and supply Europe, Middle East, and Africa from its Ireland factory to reduce costs.
5. Marvell Technology (Nasdaq: MRVL)
Marvell Technology gained solidly by 4.12%. Marvell Technology collaborated with Lumentum and Coherent to showcase the first 800G ZR/ZR+ pluggable module for 500km DCI. The company reported Q2 2025 earnings with revenue of $2.34 billion and a net loss of $409 million. Multiple firms reiterated their ratings.
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