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Tech Giants Q2 Moves: Palantir, Block, Vertiv, Nike, Sony Insights

AInvestTuesday, Jul 30, 2024 6:00 pm ET
1min read
1. Palantir Technologies (NYSE: PLTR)
Palantir Technologies dipped mildly by -2.55%. Citigroup and Jefferies both maintain neutral/hold ratings on Palantir, setting the price target at $28. Palantir reported Q1 2024 revenue of $634 million, a 20.78% YoY increase. Insider trading disclosures show Glazer David A. sold 90,000 shares on July 18, 2024.

2. Block (NYSE: SQ)
Block dipped mildly by -2.58%. Block will report its Q2 2024 financial results after market close on August 1, 2024. Morgan Stanley maintains an underweight rating with a $55.00 price target. Macquarie maintains an outperform rating with a $100.00 price target. William Blair upgrades Block to outperform.

3. Vertiv Holdings (NYSE: VRT)
Vertiv Holdings dipped mildly by -2.59%. Vertiv Holdings reported a 28.99% year-over-year increase in net income for the first half of fiscal 2024, with revenues reaching $35.92 billion and net income at $1.72 billion. Additionally, Goldman Sachs maintained a buy rating for the company with a target price of $104.00.

4. Nike (NYSE: NKE)
Nike dipped mildly by -2.62%. Nike leads Olympic brand value ranking; launches new "Air" series for athletes. TD Cowen recently maintained a Hold rating on Nike, reducing the price target to $71. Nike's 2024 annual report revealed revenues of $51.36 billion and net profit of $5.7 billion.

5. Sony Group (NYSE: SONY)
Sony Group dipped mildly by -2.71%. Sony provided CineAlt cameras to budding filmmakers at the 18th FIRST Film Festival. Sony PlayStation announced a $79.99 "Astro Bot" themed DualSense controller, available for pre-order on August 9. Sony unveiled multiple games for the first time at ChinaJoy 2024.
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.