As if they needed it, Palantir (PLTR) announced this morning that the company has expanded their relationship with another AI leading company.
The company announced an expansion of the existing partnership with Microsoft to bring some of the most sophisticated and secure cloud, AI, and analytics capabilities to the U.S. Defense and Intelligence Community.
The two companies are developing the first-of-its-kind, integrated suite of technology that will allow critical national security missions to operationalize Microsoft's best-in-class Large Language Models via Azure OpenAI Service.
The services will run within Palantir's AI Platform in Microsoft's (MSFT) government and classified cloud environments.
Palantir announced better-than-expected earnings results after Tuesday’s close. The company’s earnings report fueled a 20% rally in the stock on Wednesday.
Today’s headlines lured heavy buying volume into the stock as shares rose more than 10%. The stock is now trading almost 40% higher than its lows posted on Monday morning.
Palantir is now just below $30, a level that caused the stock to stall and reverse lower just two weeks ago. A break above that price will catch the attention of Wall Street analysts as their current average target price for Palantir is below $25.
Price upgrades and a renewed bullish trend should continue to fuel additional upside potential for the stock.
Shares of Palantir remain bullish with a price target of $40.
It’s been a wild ride for Lumen Technologies (LUMN) stock over the last three days as shares have traveled a cumulative 313 percentage points.
On Tuesday Lumen shares were up more than 100% after the company announced a new series of business worth $5 billion after Monday’s close. The communications company has been laying the foundation for providing communications services to the AI industry.
On Tuesday, Lumen shares saw multiple upgrades from Wall Street analysts ahead of the company’s earnings report after the close.
Lumen’s earnings missed analyst expectations for earnings per share by $0.07 with revenue that hit the company’s targets. Revenue for the quarter increased 10.7% as expected, but it’s the company’s potential revenue that has the market more excited.
Today, the stock is down roughly 20% after an article from Barron’s panned the stock with a bearish outlook for shares.
The stock’s wild ride is a great example of the volatility that ensues on stocks that trade under $5 and $10.
Speculation and volatility go hand in hand in this price range, which is why investors should expect the stock to remain volatile.
Lumen’s current highs, just below $7.50, represent the highest price seen by the stock in two years.
Lumen technology - formerly known as CenturyLink until 2020 – saw its high price trade in 2014 and has been in a long-term bear market trend since 2016.
The company’s recent rally has seen an increase in speculative interest as well as analyst upgrades. Shares have crossed above their long-term 20-month moving average but should still be considered relatively bearish as the company appears to still be in a “proving ground” situation on a fundamental basis.
Eli Lilly (LLY) rode their quarterly earnings results to gains of more than 9% today.
The pharmaceutical giant gave investors an impressive earnings result as they crushed their second quarter earnings per share and revenue estimates.
Eli Lilly also raised their fiscal year 2024 guidance, a move that most technology companies haven’t been able to do this quarter.
The company’s strong earnings performance was driven by the breakout success of Mounjaro. The GLP-1 drug gives the company its strongest growth catalyst in years.
The company’s CEO was interviewed by CNBC after the report stating that Eli Lilly has not hhad, or expect to have, constraint problems in the market for Mounjaro, unlike their competitor in the space, Novo Nordisk A/S (NVO).
Shares of Eli Lilly have been running in a short- and long-term bullish trend which is looking to continue higher. This is counter to the majority of the pharmaceutical sector, which is down over the last 12 months.
Eli Lilly shares have a bullish outlook with a target price of $1,100.
