Big Data Stock Pops 17%
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Good Morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see U.S. stock futures were little changed on Tuesday. The pause came after a sell-off triggered by higher bond yields and worries that the Federal Reserve may not cut rates as fast as Wall Street hoped. Oil prices also rose after the U.S. retaliatory strikes in the Middle East.
While we always have strategies to help you make winning trades in The War Room, we also feel it’s important to consider other investment ideas outside the stock market. Right now our friend and Oxford Club Chief Income Strategies Marc Lichtenfeld is telling readers about his No. 1 oil play for 2024.
Here’s a look at the top-moving stocks this morning.
Palantir Technologies (NYSE: PLTR)
Palantir Technologies is up 17% in premarket trading. The pop came from its strong AI-driven revenue growth. The company’s commercial segment reported a 32% year-over-year increase, contributing to an overall revenue of $608 million. Although Palantir’s government had slower growth, the robust performance in commercial revenue and the AI platform’s rapid scaling was the reason for the spike.
Our Head Trading Tactician Bryan Bottarelli got positioned on PLTR yesterday in The War Room.
Coherent Corp. (NYSE: COHR)
Coherent is up 9.29% in premarket trading after its latest earnings report. It reported revenue of $1.13 billion, marking a year-over-year decline of 17.4%. The EPS (Earnings Per Share) for the same period was $0.36, compared to $0.95 a year prior. This revenue figure slightly exceeded the Zacks Consensus Estimate of $1.12 billion, showcasing a surprise of +1.13%.
Eli Lilly & Co. (NYSE: LLY)
Eli Lilly & Co. is up 3.94% in premarket trading after posting strong revenue results. One of the main drivers was Eli Lilly’s new weight loss drug Zepbound, which won FDA approval in early November. Zepbound raked in $175.8 million in sales for the fourth quarter.
Those are the biggest stock movers for today.
The Wake-Up Watchlist Research Team