Markets
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Matt Phillips

After losing retail interest, Palantir shares pop on Middle East turmoil

Palantir jumped in early trading Monday, with shares on track for their best day in weeks after the outbreak of war in the Middle East reinvigorated investor interest in a company that is an intelligence and defense contractor to the US and Israel.

Despite impressive recent business results driven by its corporate AI software division, Palantir has lost some of the previously rapt attention of individual investors, a group of shareholders who were a cornerstone of the stock’s more than 400% rise over the last two years.

In a note published last week, JPMorgan analyst Arun Jain, who keeps a close eye on trends among individual traders, noted that retail “paused PLTR purchases last September.”

The stock topped out not long after that, hitting a record of $207.52 in early November. Even after Monday’s bounce, the shares are down about 30%, having tumbled through key technical levels that confirm the downshift in momentum.

But with the attention of the markets now clearly on the war in Iran and the wider region, Palantir’s attributes as a defense and intelligence contractor for the US government — it took in $1.9 billion from US government customers last year, 42% of total revenue — as well as Israel seem to be getting the company a second look.

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Paige Oamek

HP Enterprise skyrockets on strong Q2 earnings and full-year guidance boost

HP Enterprise shares soared Monday afternoon following the enterprise software company’s Q2 earnings report, which detailed a blockbuster quarter.

The stock was up more than 30% — not a typo — after-hours.

Here are the numbers for Q2:

  • Revenue of $10.7 billion (compared to the analyst estimate of $9.78 billion, per FactSet).

  • Adjusted earnings per share of $0.79 (estimate: $0.53).

The company raised its guidance for the full fiscal year, saying it sees revenue growth of 29% to 33%, compared with its previous guidance for 17% to 22%. It also guided for adjusted EPS of $3.35 to $3.45 for the full year, up from the $2.30 to $2.50 it had estimated in its Q1 earnings release.

For its early fiscal 2027 guidance, HPE said it expects revenue to grow 8% to 12%, compared with analysts’ expectations for 5.5% growth. It also said it expects adjusted EPS growth of 12% to 16%, compared to analysts’ forecasts of a 13.5% rise.

Unlike HP, which makes consumer products like PCs and printers, HP Enterprise is primed to support the AI boom — specializing in cloud servers, data storage systems, and AI infrastructure. HPE has gained 90% since January.

Last week, competitor Dell saw a similarly rosy earnings report, which boosted its stock nearly 40%.

On Monday at Computex, HPE announced a new project with Nvidia: a new server powered by the semiconductor company. “Agentic AI has arrived, and it needs a new CPU,” said Nvidia CEO Jensen Huang. According to the companies, the plan is to support and optimize the New York Stock Exchange’s day-to-day infrastructure with “industry leading agentic AI CPU performance, memory bandwidth and low latency.”

markets
Jon Keegan

Credo Technology tanks, despite beating on earnings and revenue for Q4

Credo Technology Group shares cratered in after-hours trading after releasing Q4 earnings after the bell, despite crushing analyst expectations for earnings and revenue.

The stock dropped 15% in after-hours trading.

For Q4, the company — which makes high-speed connectivity solutions for data centers — posted:

  • Revenues of $437 million (estimate: $431.8 million).

  • Adjusted earnings per share of $1.16 (estimate: $1.02).

And for the first quarter, the company estimated revenue ranging from $465 million to $475 million, compared with analysts’ estimates for $461 million.

Shares of the company are up 63% year to date, and hit their all-time high of $247 today.

Shares soared earlier in the month after Credo announced its acquisition of DustPhotonics, which makes silicon photonic integrated circuits for high-speed networking in data centers. The acquisition means that Credo will be able to play both ends of the data center connectivity business, by adding advanced photonics to its bread and butter of active electrical cables.

Credo stock was down over 14% in after-hours trading.

Tasha Matsumoto
2h
Gains from semiconductor and software stocks send S&P 500, Nasdaq 100 to new record closes

An Nvidia-fueled tech rally powered stocks to new records, though market breadth was weak as only the information technology and energy sectors rose.

CHICAGO, IL - JANUARY 14: Chicago Bulls mascot Benny the Bull during a game against the New Orleans Pelicans and the Chicago Bulls on January 14, 2025 at the United Center in Chicago, Illinois.
markets
Max Knoblauch

AMC, Cinemark climb on record May movie theater attendance

Shares of movie theater chains AMC and Cinemark are surging on Monday, following impressive May attendance tallies for both companies.

AMC logged 25.5 million moviegoers last month, the company’s best May since 2019. Cinemark said it achieved its highest May US box office tally ever.

Both companies cited the success of popular horror titles “Backrooms” and “Obsession,” which were each born out of the minds of popular TikTok creators. The Michael Jackson biopic “Michael” and Disney’s “The Mandalorian and Grogu” also performed well.

“Audiences are showing up for a wide range of content, with particular strength in younger moviegoers, resulting in impressive performances across blockbusters and varied small- to mid-tier titles,” said Cinemark CEO Sean Gamble.

markets
Helena Cheng

IBM surges after Barclays initiates with a buy, video of Trump in 2025 saying stock will “go up a lot more” resurfaces

IBM shares are jumping in early trading because of both old and new praise. The old: a video featuring President Donald Trump complimenting the company’s CEO, Arvind Krishna, was reshared by Polymarket Money’s X account, but without the context of it being from December. The new: Barclays initiated coverage of IBM at “overweight” with a $350 price target.

Barclays analyst Raimo Lenschow urged investors to stop looking at IBM through the lens of legacy hardware in a Monday note. Instead, he said to focus on the sheer defensive dominance of IBM’s highly specialized software segment, which currently generates nearly half of the corporation’s overall revenue and the vast majority of its net profit.

“While software has a negative investor connotation at the moment, IBM is offering infrastructure software (the good part) to large, often heavily regulated customers, which creates a very sticky set-up that should not see negative AI implications,” Lenschow noted.

Compounding the institutional buying enthusiasm is a wave of retail momentum triggered by social media posts, as traders on X and TikTok began widely sharing a video clip from 2025 where Trump explicitly praises the technology company, confidently stating that IBM stock is going to “go up a lot more.”

IBM’s move builds on momentum from last week following its commitment to spend $10 billion in quantum computing over the next five years to build the first large-scale quantum computer. This comes after the Trump administration signed a number of letters of intent to award a total of $2 billion in grants to nine quantum companies, including IBM, in deals that also include equity stakes.

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