Stock Market Update: Palantir-Microsoft AI Deal, Block’s Revenue Surge, and Sony’s PS5 Triumph

1. Palantir Technologies (NYSE: PLTR)
Palantir Technologies dipped mildly by -2.55%. Palantir disclosed two insider transactions on August 13, 2024. Executive Taylor Ryan D. sold 249,700 shares on August 9, 2024. Wedbush Securities noted, Palantir signed an agreement with Microsoft to provide AI services for defense and intelligence sectors, potentially boosting Palantir's AI platform.

2. Block (NYSE: SQ)
Block dipped mildly by -2.58%. Block announced its mid-year financial report on August 1, 2024, with revenue of $12.113 billion, a 15.08% increase year-over-year, and net profit of $661 million. On August 8, 2024, Block disclosed two insider transactions, including director Roelof Botha purchasing 313,100 shares.

3. Vertiv Holdings (NYSE: VRT)
Vertiv Holdings dipped mildly by -2.59%. Vertiv Holdings released its mid-2024 financial report, showing revenue of $35.92 billion and net profit of $1.72 billion. Mizuho upgraded Vertiv Holdings to Outperform with a $92.00 target price. Goldman Sachs maintains a Buy rating, setting a target price of $104.00.

4. Nike (NYSE: NKE)
Nike dipped mildly by -2.62%. Nike halted online sales in Turkey to address increased overseas e-commerce taxes announced by the Turkish government. Additionally, former executives criticized the current CEO amid a three-year market value decline.

5. Sony Group (NYSE: SONY)
Sony Group dipped mildly by -2.71%. Sony reports strong FY24 Q1 growth, raises full-year guidance. Sony disappoints fans with "Concord" decision, announces new DualSense controller patent, and updates for "Concord." PS5 successful, market share surpasses Xbox. Sony's "The Last of Us 2" multiplayer project canceled.