Top Stocks Dip Mildly Despite Strong Earnings and Strategic Moves

1. Palantir Technologies (NYSE: PLTR)
Palantir Technologies dipped mildly by -2.55%. Palantir Technologies reported Q2 adjusted EPS of $0.09 (analysts expected $0.081), Q2 revenue of $678.1 million (analysts expected $652.8 million), and adjusted EBIT of $261.6 million (analysts expected $219.3 million). Full-year adjusted operating profit guidance was also above expectations.

2. Block (NYSE: SQ)
Block dipped mildly by -2.58%. Needham, Wells Fargo, RBC Capital, Benchmark, and BMO Capital maintain favorable ratings on Block with price targets between $80 and $99. Block's 2024 mid-year report shows $121.13 billion revenue and $6.61 billion net profit, reflecting a 15.08% year-over-year increase.

3. Vertiv Holdings (NYSE: VRT)
Vertiv Holdings dipped mildly by -2.59%. Vertiv Holdings reported a 28.99% year-on-year increase in net profit for the first half of fiscal 2024, totaling $1.72 billion in net income and $35.92 billion in revenue. Executive Fallon David Joseph purchased 952 shares on July 31, 2024. Goldman Sachs maintains a buy rating with a $104.00 target price.

4. Nike (NYSE: NKE)
Nike dipped mildly by -2.62%. Adidas reported second-quarter 2024 revenue of €5.82 billion, up 9% year-over-year, with operating profit at €350 million. NIKE has signed rising tennis star Zheng Qinwen, enhancing her commercial appeal alongside partnerships with Ant Group, Bawang, and Lancôme.

5. Sony Group (NYSE: SONY)
Sony Group dipped mildly by -2.71%. Sony's $3.6 billion acquisition of Bungie faces criticism for unfulfilled promises and high costs. Sony announced layoffs at Bungie following the acquisition. Sony and Microsoft joined the OpenUSD Alliance for 3D format standards. "God of War" developer is releasing a new IP.