Industrial company Goodyear (GT) stock saw an increase of more than 13% on Tuesday following its latest earnings report.
Goodyear Tire & Rubber reported its third-quarter earnings after the close on Monday, delivering better-than-expected results.
The company showed bottom line earnings per share of $0.37, beating analysts' consensus estimates of $0.25.
The bottom-line beat came as quarterly revenue decreased by 6.2% year-over-year to $4.82 billion. That top line result fell short of the expected $4.96 billion.
This decline reflects ongoing challenges despite the earnings beat.
The healthy bottom-line results suggest that Goodyear’s margin performance has improved as the company has set out to cut operating expenses over the last two years.
The outlook for auto industry and related company’s is improving as consumers are gaining more confidence in the economy.
That, coupled with lower interest rates, suggests that Goodyear Tires should benefit from increased demand in 2025.
Shares of Goodyear are trading in a long-term bear market trend, despite the healthy post-earnings rally.
The stock fell below the psychologically significant $10 price following the company’s August earnings report.
Today’s move above $9 is likely to draw more technical traders into the market for Goodyear shares, but long-term investors should still maintain a cautious outlook on the stock.
Goodyear Tire & Rubber remains locked in a long-term bear market trend with a price target of $7.
Palantir (PLTR) announced its quarterly earnings after the close on Monday.
The earnings report revealed robust financial performance that well exceeded Wall Street expectations.
For the quarter. Palantir reported significant growth in both revenue and earnings, driven by strong demand for its data analytics software from both government and commercial clients.
Palantir's revenue surged by 25%. That growth came from several new contracts and expansions of existing business.
Growth was focused in the defense and intelligence sectors, which continue to be its largest revenue source.
In addition, Palantir provided an optimistic outlook for the upcoming quarters. Palantir’s management is projecting strong revenue growth and potential new partnerships.
The company’s guidance suggests a strong confidence in the scalability of its platforms and the increasing importance of big data analytics across various industries.
Shares of Palantir were the best performing stock in the S&P 500 with today’s surge of 23%.
Tuesday’s sharp move higher is the best one-day performance for Palantir since February 6, 2024. Shares rallied more than 30% then following a better-than-expected earnings results and forward-looking guidance.
Palantir shares are now trading in new all-time high territory with their close above $45.
The stock is wildly under loved by Wall Street analysts, suggesting that investors can expect to analyst’s begin to upgrade their outlooks and target prices for the stock.
Palantir stock is trading in a bull market trend with a price target of $75.
Amazon (AMZN) announced that it has secured Federal Aviation Administration approval to operate its new, compact delivery drones.
Amazon’s drone delivery program has been in the works for over a decade since being envisioned by founder Jeff Bezos.
The approval allows Amazon to test and operate its delivery drones beyond the visual line of sight of pilots.
This advancement paves the way for expanded drone deliveries in a city west of Phoenix, Arizona. The company plans to expand its drone delivery program as test market results marking a significant milestone for Amazon's Prime Air drone program.
Shares of Amazon.com rallied to $200 following the announcement, but were unable to close above the round-numbered psychological price.
Shares of Amazon saw resistance at this same price in July.
Last week, shares of Amazon shot 7% higher to $200 following the company’s earnings results. That attempt to break above this round-numbered level was rejected like today.
Investors should expect that the resistance at $200 will subside, allowing shares to move higher as Amazon’s short- and long-term technical trends are both in solid bull market trends.
Amazon stock maintains a bullish outlook with a price target of $250.
