Palantir's (PLTR) second quarter results were in-line with Wall Street estimates. The company also announced a $1 billion stock buyback plan. However, RBC Capital Markets Software Equity Analyst Rishi Jaluria calls it a "battleground stock" with high interest from retail investors. Jaluria says the stock has had a massive run-up due to the AI hype, however he does not believe "Palantir is truly a generative AI company." "Palantir has some fantastic technology. This is a data pipeline company that can help you make a lot of sense out of your data, but it is not doing generative AI," Jaluria tells Yahoo Finance Live. On the stock's recent run higher, Jaluria explains in the video above why "the move in the stock, to me, is not justified by the actual underlying fundamentals."
Palantir announces $1B buyback program as Q2 earnings meet expectations
08/08/2023 05:04
Palantir's (PLTR) second quarter results were in-line with Wall Street estimates. The company also announced a $1 billion stock buyback plan. However, RBC Capital Markets Software Equity Analyst Rishi Jaluria calls it a "battleground stock" with high interest from retail investors. Jaluria says the stock has had a massive run-up due to the AI hype, however he does not believe "Palantir is truly a generative AI company." "Palantir has some fantastic technology. This is a data pipeline company that can help you make a lot of sense out of your data, but it is not doing generative AI," Jaluria tells Yahoo Finance Live. On the stock's recent run higher, Jaluria explains in the video above why "the move in the stock, to me, is not justified by the actual underlying fundamentals."
Reuters
Daimler Truck CFO Jochen Goetz dies in 'tragic accident'
FRANKFURT (Reuters) -Daimler Truck's Chief Financial Officer Jochen Goetz has died in a "tragic accident," the company said on Sunday. Goetz, 52, died on Saturday, a statement said, without giving details of the accident. Goetz spent his entire professional career, spanning more than 36 years, in the Daimler Group, and was largely responsible for the successful spin-off of Daimler Truck Holding from what is now the Mercedes-Benz Group in December 2021.
Reuters
US trucking firm Yellow files for bankruptcy, blasts Teamsters
(Reuters) -Some 30,000 workers at Yellow Corp were looking for jobs on Monday after the major trucking company filed for Chapter 11 bankruptcy protection, potentially saddling U.S. taxpayers with losses from a government rescue of the long-troubled carrier. It laid blame for the bankruptcy, likely the largest ever for a U.S. trucking firm, at the feet of the International Brotherhood of Teamsters union that represents about 22,000 of its employees. Teamsters leadership "was able to halt our business plan, literally driving our company out of business," Yellow CEO Darren Hawkins said in a statement late Sunday.
Bloomberg
Biotech Firm Pops 677% on Social Anxiety Spray Trial Success
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TipRanks
Insiders Pour Millions Into These 2 Stocks Under $10 — Here’s Why Wall Street Thinks They Could Double (or More)
Investors are constantly looking for different ways to beat the market and there are several routes to follow in that pursuit. One common strategy is to keep track of the insiders’ moves. By insiders, we mean the corporate officers responsible for their own companies’ performance, who also naturally know the inner workings of the firms they work for better than anyone else. When they are seen picking up shares of company stock – by law they are required to make the transactions public – it sends
Bloomberg
Vietnam’s Richest Man Poised to Briefly Triple Fortune on EV Bet
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AP Finance
Beyond Meat revenue plummets in the second quarter due to flagging US demand
Plant-based meat maker Beyond Meat said its revenue plunged 30.5% in the second quarter as consumer demand for its burgers, sausages and other products fell despite price cuts. International food service demand was flat compared to the same period last year, but retail sales were down nearly 16%.
AP Finance
Tyson Foods closing 4 chicken processing plants in cost-cutting move
Tyson Foods Inc. is closing four chicken processing plants as it looks to lower costs. The company said Monday that the plants being closed are located in North Little Rock, Arkansas; Corydon, Indiana; Dexter, Missouri and Noel, Missouri. Tyson said that it will shift production to other facilities and halt operations at the four plants in the first two quarters of fiscal 2024.