Today's biggest winners and losers in the stock market, a look at the notable movers:
On this episode of Stock Movers:
- SpaceX (SPCX) shares jumped for a second straight day, bringing them close to breaking back above the company’s $135 initial public offering price. The lockup expiration more than doubled the total number of shares available to trade to 1.55 billion from the 639 million in circulation when Space Exploration Technologies Corp. went public. Nearly 80% of analysts covering SpaceX have given the stock a buy rating, with an average price target of roughly $221 implying more than 65% upside from where shares closed Friday.
-Palantir Technologies (PLTR) shares surged after the company boosted full-year revenue and income forecasts, describing commercial demand for its data analytics tools as “otherworldly.” Palantir Chief Executive Officer Alex Karp said US commercial sales in the second quarter were “staggering,” rising 149% from a year earlier to $764 million. The stronger outlook worked to assuage investors’ fears that Palantir’s business would suffer from AI developers selling their own software and from governments outside of the US increasingly working with tech firms at home.
- Shares of The Trade Desk (TTD) slumped 24% in after hours trading after the advertising technology company reported second quarter revenue that fell short of expectations. The company reported adjusted earnings of 34 cents a share and revenue of $715 million, up 3% from a year ago. Analysts tracked by FactSet expected adjusted earnings of 18 cents a share and revenue of $752.6 million.
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