Palantir is on its way to becoming a trillion-dollar company, according to prominent tech bull Dan Ives. The AI company’s stock has surged more than 140% since the beginning of the year. Earnings beats , lucrative military contracts and the firm’s CEO boasting about “crazy, efficient revolution” in terms of growing revenue while downsizing headcount, have all helped build buzz around the firm. The firm’s shares popped 7.85% on Tuesday, after it reported $1 billion quarterly revenues for the first time, way ahead of analyst expectations. Since then, the stock has extended its gains and was last seen 1% higher…
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Bill Nygren, portfolio manager at Oakmark Funds for four decades, said he’s focusing on cheap stocks that return meaningful capital to shareholders with the stock market trading at record highs. The widely followed value investor revealed that he’s trying to find hidden gems that are a lot cheaper than the average stock in the S & P 500, which is trading at 23 times forward earnings. Nygren said almost half his holdings have multiples less than 12 times earnings. While his picks don’t offer exceptional organic growth, he looks for the companies that have solid repurchase or dividend programs in…
A dump truck moves raw ore inside the pit at the Mountain Pass mine, operated by MP Materials, in Mountain Pass, California, U.S., on Friday, June 7, 2019. Joe Buglewicz | Bloomberg | Getty ImagesMP Materials’ stock surged on Friday after the miner narrowed its losses in the second quarter on record production of a key rare earth oxide, raising hopes among investors that the company is moving toward profitability after a big investment by the Defense Department.Shares of MP were more than 6% in morning trading.MP booked an adjusted loss of $21.37 million, or 13 cents per share, down…
U.S. President Donald Trump speaks, as he makes an announcement on the economy, in the Oval Office at the White House in Washington, D.C., U.S., August 7, 2025. Jonathan Ernst | ReutersU.S. President Donald Trump’s deadline for Russia to cease its war in Ukraine expires on Friday, as markets watch whether the White House will proceed with steep penalties on Moscow’s oil clients.Increasingly frustrated with the Kremlin, Trump has pledged “secondary tariffs” of “about 100%” on Russia’s trade partners, if Moscow does not end its invasion in Ukraine, setting an initial 50-day timeline that was later shortened.Trump has made ending…
Check out the companies making headlines before the bell: Under Armour — The retail stock tumbled 21% after American sportswear company posted first-quarter results that missed estimates. Under Armour reported adjusted earnings of 2 cents per share, lower than the FactSet consensus estimate of 3 cents. Revenue of $1.10 billion came in below the $1.13 billion expectation. Trade Desk — Shares tumbled 33%. A slew of Wall Street firms including Bank of America and MoffettNathanson downgraded the stock, even after Trade Desk’s surprisingly strong earnings results, after CEO Jeff Green warned during the earnings call that “some of the world’s…
Inside a Crocs store at Queens Center in New York.Ryan Baker | CNBCCasual footwear company Crocs plans to reduce orders for the second half of the year amid what its CEO called a “concerning” environment for the consumer.”We see the U.S. consumer behaving cautiously around discretionary spending. They are faced with current and implied future price increases, which we think has the potential to be a further drag on an already choiceful consumer. Against this backdrop, our retail partners are acting more carefully and reducing their open-to-buy dollars in future seasons,” said CEO Andrew Rees on the company’s second-quarter earnings…
Here are the biggest calls on Wall Street on Friday: Morgan Stanley upgrades Novartis to equal weight from underweight Morgan Stanley said in its upgrade of Novartis that growth is improving at the biopharma company. “Valuation remains demanding for the growth profile, but growth quality is higher and we see room for upside (commercial execution and pipeline).” Goldman Sachs upgrades Diageo to neutral from sell Goldman said upgraded the beverage company on valuation. The firm says it sees limited downside for Diageo. “We see limited downside risk in FY26, as new management steps-up cost saving to support best-in-class margins and…
When venture capitalist Keith Rabois got into e-commerce, he couldn’t stop buying brands. Now, everything must go.OpenStore, co-founded by Rabois in 2021, is shutting down nearly all of the 40-plus Shopify stores it acquired, and it’s in the process of liquidating any remaining inventory by offering steep discounts to move merchandise.Earlier this week, the company announced it plans to focus solely on growing Jack Archer, the menswear brand it bought for $837,000 in 2022. The website address open.store now redirects to jackarcher.com.The dramatic downsizing to a single brand comes as OpenStore in recent weeks raised a $15 million funding round…
Caia Image | Collection Mix: Subjects | Getty ImagesBitcoin’s historical “cycle” is showing signs that it might be breaking as a changing profile of investors and supportive regulation reshapes market dynamics.If this often predictable pattern is broken, it would have significant implications for the way investors assess the cryptocurrency’s price action and the potential timing of when to invest in bitcoin.”It’s not officially over until we see positive returns in 2026. But I think we will, so let’s say this: I think the 4-year cycle is over,” Matthew Hougan, chief investment officer at Bitwise Asset Management, told CNBC.What is the…
A major exchange-traded fund provider is getting ready to launch a fund designed to ease investors’ tax burdens from a record-setting stock market.Even though ETFs are considered more tax efficient than mutual funds, Astoria Portfolio Advisors plans to launch the Astoria U.S. Enhanced Core Equity ETF (LCOR) in October. The fund uses a tax-mitigation strategy that’s known as an exchange or conversion under Section 351 of the tax code.When a stock has a huge run-up, investors may end up overconcentrated in that name, putting them on the hook for large capital gains taxes if they try to sell down the…
