Is Palantir Technologies Inc. (NASDAQ:PLTR) a Stock That Should Double in 3 Years?
On April 25, Kari Firestone, Aureus Asset Management executive chairman and co-founder, joined CNBC's 'Squawk Box' to discuss the latest market trends and express how this is a reasonable place for long-term investors to enter the market. Despite persistent concerns about a recession coming from tariffs, Firestone thinks that corporate earnings have generally exceeded expectations. The strong performance of major tech companies has been a key driver behind the market's recent gains, such as those in the MAG7. Elaborating on the significance of these tech giants, Firestone also underscored that the top 2 companies in the S&P 500, regardless of which they are, match the market value of the bottom 300 companies in the index. This concentration means that these leading firms are fundamental to the US economy's progress.
The conversation then addressed the impact of proposed FDA budget cuts on innovation for biotech companies. Firestone agreed that such cuts could slow down the approval process for new products and drug manufacturing, and she advised against reducing the FDA's budget. However, she believes that the market has already priced in these risks. She compared the situation to previous market overreactions, such as the 32% drop during the early COVID-19 period, which was followed by a rapid recovery.
Firestone also concluded that the market is now fairly valued. Some sectors offer attractive opportunities due to recent price declines. She assessed the overall market valuation in light of tariff uncertainties and the recent rebound from a 20% drop to a current decline of about 10.5%. She explained that the market's price-to-earnings multiple has decreased from 22.5x next year's earnings to 18.5x, assuming no severe recession. She's confident that the market is unlikely to end the year lower than current levels and recommends that long-term investors enter the market at this stage. Firestone believes that the market has partially priced in the impact of tariffs. She estimated that a 5% to 10% tariff is reflected in current prices. While a full-blown recession may not be entirely priced in, a slowdown likely is.
We sifted through financial media reports and Reddit threads to compile a list of the top 30 stocks that should double in 3 years. The stocks are ranked in ascending order of the number of hedge funds that have stakes in them, as of Q4 2024. The hedge fund data was sourced from Insider Monkey's database which tracks the moves of over 1000 elite money managers.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
A software engineer manipulating a vast network of code on virtual monitors.
Number of Hedge Fund Holders: 64
Palantir Technologies Inc. (NASDAQ:PLTR) builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the US, the UK, and internationally. It provides different platforms, which include Palantir Gotham, Palantir Foundry, Palantir Apollo, and Palantir Artificial Intelligence Platform/AIP.
On April 16, Morgan Stanley reiterated the stock as Equal Weight and lowered its price target to $90 from $95. The firm thinks that the company's technical capabilities allow customers to realize early success on its GenAI initiatives. In 2024, Palantir's US commercial sector grew by 54% year-over-year due to AIP and generated $702 million in revenue. In Q4 alone, the sector grew by 64%.
The US commercial sector booked $803 million in Total Contract Value in Q4, which indicated a 134% year-over-year improvement. The customer base for this segment also jumped by 73%. Palantir projects US Commercial revenue to surpass $1.079 billion in 2025 at a 54% growth rate. To drive this, Palantir Technologies Inc. (NASDAQ:PLTR) is investing in technical talent and product development to remain at the forefront of the AI revolution.
Alger Mid Cap Focus Fund stated the following regarding Palantir Technologies Inc. (NASDAQ:PLTR) in its Q4 2024 investor letter:
'Palantir Technologies Inc. (NASDAQ:PLTR) builds advanced platforms for data integration, management, and security, enabling interactive, AI-assisted analysis for its users. Its core offerings include Palantir Gotham, designed for government clients, and Palantir Foundry, tailored for commercial customers. Originally focused on U.S. intelligence agencies, Palantir has expanded into defense contracts with western governments and entered the commercial market in 2016. During the quarter, shares contributed to performance after the company reported better-than-expected fiscal third quarter operating results, along with management raising its full year 2024 revenue guidance. Management noted that the recent launch of its AI platform (AIP), which leverages generative AI to optimize business operations, has driven significant growth and investor interest. Additionally, we believe Palantir could be a key partner for the U.S. government's new Department of Government Efficiency (DOGE), as its AI-driven platforms are ideally suited to help identify inefficiencies, allocate resources effectively, and achieve cost reductions.'
Overall, PLTR ranks 15th on our list of the stocks that should double in 3 years. While we acknowledge the growth potential of PLTR, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than PLTR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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Earnings live: CoreWeave stock tumbles 20%, Cava falls, Cisco posts slight beat on AI demand
Second quarter earnings season is winding down, and with most of the reports in, the results have been mostly positive. Data from FactSet published Friday showed that with 90% of the index having reported results, analysts expect S&P 500 companies to report an 11.8% jump in earnings per share during the second quarter. Companies had a lower expectation bar to clear coming into the quarter — analysts expected S&P 500 earnings to rise 5% in Q2, the slowest pace of earnings growth since Q4 2023 — amid President Trump's tariffs, stocks' lofty valuations, and uncertainty about the health of the US economy. Earnings this week include Circle (CRCL), AMC (AMC), Cava (CAVA), Cisco (CSCO), CoreWeave (CRWV), Deere (DE), On (ONON), and Oklo (OKLO). Here are the latest updates from corporate America. Cisco forecasts higher-than-expected quarterly revenue on increased demand Cisco Systems (CSCO) reported adjusted earnings per share of $0.99 in the fiscal fourth quarter, barely beating estimates of $0.98. Revenue was $14.67 billion versus an estimate of $14.63 billion. Its fiscal first quarter forecast for revenue was also better than expected, as the AI boom boosted demand for networking equipment from cloud customers. Though Cisco stock fell 2% after hours. Reuters reports: Read more here Brinker International stock pops as Chili's drives earnings beat Brinker International (EAT) stock jumped 9% in premarket trading on Wednesday after the restaurant group reported earnings and revenue that topped estimates, powered by another quarter of strong sales at Chili's. The company reported net income of $107 million, or $2.49 per share on an adjusted basis, on revenue of $1.46 billion in the fiscal fourth quarter. During the same period last year, Brinker posted net income of $57.3 million ($1.24 per share) on $1.2 billion in revenue. The results were also better than Wall Street expected. Estimates going into the report were for adjusted diluted earnings per share of $2.47 and revenue of $1.44 billion. Chili's was the standout this quarter, with 23.7% sales growth and 16% traffic growth. Comparable sales at Maggiano's declined 0.4%. "With that sustained momentum, along with a strong pipeline of initiatives, we are confident in our ability to grow sales and traffic throughout Fiscal 2026," CEO Kevin Hochman said in a statement. "Chili's is officially back, baby back!" Brinker expects fiscal 2026 revenue to be between $5.6 billion and $5.7 billion. It sees full-year earnings per share at $9.90 to $10.50. Dutch Bros CEO says company in 'growth mode' as Starbucks turnaround stokes beverage competition Yahoo Finance's Brooke DiPalma reports: Read more here. Tencent's revenue beats estimates in boost for AI ambitions Bloomberg News reports: Read more here. Cava stock plummets after company misses some of Wall Street's marks, cuts guidance Cava (CAVA) missed Wall Street's mark for revenue and same-store sales growth in its second quarterly earnings report. The company's revenue came in at $280.62 million, below the $285.56 million Wall Street expected, per Bloomberg consensus estimates. Adjusted earnings beat by $0.03, coming in at $0.16. Same-store sales came in lower than expected, up 2.1%, driven by menu prices and product mix. Meanwhile, guest foot traffic was flat, far less than the 6.14% jump expected by the Street. In the release, CEO Brett Schulman called it a "fluid macroeconomic environment," adding that it "continued to grow market share" during the quarter. For the full year, the company expects same-store sales growth of 4% to 6%, down from the previously expected range of 6% to 8%. CoreWeave Q2 revenue beats estimates, but results come up against high bar Nvidia (NVDA)-backed AI cloud company CoreWeave (CRWV) delivered solid revenue growth in its second quarterly report since going public, but its loss per share widened. The stock fell 6% in after-hours trading. Wall Street expected strong top-line numbers going into earnings, as robust AI demand, a deal with Core Scientific, and a $4 billion expansion deal with OpenAI ( fueled the quarter. Two of CoreWeave's key customers, Microsoft (MSFT) and Meta (META), also reaffirmed their spending plans going into the quarter in a bullish sign for AI demand. Here are some key figures CoreWeave reported versus estimates compiled by S&P Global Market Intelligence: Revenue beat: $1.21 billion, versus $1.08 billion estimated and $395.4 million a year ago. Wider loss per share: $0.60 loss per share, compared to a $0.49 loss estimated. Operating expenses increased: $1.19 billion in the quarter, compared to $317 million a year ago. Lighter capital expenditures on property and equipment: $2.45 billion, compared to estimates of $3.54 billion. Revenue backlog increased: $30.1 billion, as of June 30. In the first quarter, the company's backlog was $25.9 billion. "Our strong second quarter performance demonstrates continued momentum across every dimension of our business," CEO and co-founder Michael Intrator said in the earnings release. "We are scaling rapidly as we look to meet the unprecedented demand for AI.' CoreWeave said it will provide forward-looking guidance on its earnings call at 5 p.m. ET. You can listen to that call live on the company's stock page. Read more here. offers robotaxi production update as revenue surges Chinese robotaxi operator (PONY) reported revenue grew 76% year over year in the second quarter as the business scaled its autonomous vehicle production. The stock was up more than 1% in premarket trading but pared gains during the earnings call (you can listen to it live here). The Toyota-backed (TM) company began mass production of its two robotaxi models in June and July, respectively. Robotaxi revenue also surged over 300% to $1.5 million in the quarter. "Since mass production started two months ago, over 200 Gen-7 Robotaxi vehicles have rolled off the production line, putting us firmly on track to hit the year-end 1,000-vehicle target," CEO James Peng said in a statement. The company is still on its journey to profitability. For the quarter, it posted a net loss of $53.3 million (loss of $0.14 per share), compared to a loss of $30.9 million in the same period a year ago. Trading platform eToro beats profit estimates (Reuters) - Stock and crypto trading platform eToro beat Wall Street views for profit in the second quarter on Tuesday, as retail investors maintained a firm risk appetite despite broader macroeconomic uncertainty due to new tariffs. Shares of eToro rose in premarket trading after results. Retail trading activity has been strong this year, buoyed by gains in U.S. equity markets and renewed interest in high-risk assets such as cryptocurrencies and tech stocks. Read more here. On stock jumps on sales beat, CEO weighs in on tariffs Footwear company On Holding (ONON) stock gained 7% in early trading after beating second quarter sales estimates and raising its full-year sales guidance. Net sales increased by 38.2% year over year on a constant currency basis, with revenue coming in at 749 million Swiss francs. The company reported a diluted loss per share of CHF 0.12, a loss of around $0.15. In 2025, net sales are expected to be up at least 31% year over year on a constant currency basis. Previously, the company guided for sales to be up at least 28%. On also expanded its adjusted EBITDA margin to 17%-17.5% from 16.5%-17.5% previously. "On has a very strong momentum across the world," CEO Martin Hoffmann told Yahoo Finance, "This is most visible in our growth of our DTC channel, which has seen 55% growth in the quarter." Investors were pleased with On's ability to mitigate the tariffs successfully on its key sourcing region, Vietnam. "Our industry has always been exposed to tariffs in the US," Hoffmann said. "This is nothing new for us. ... We have been paying around 20% of most of our imports, and now this number goes up to 40% for importations from Vietnam and 39% for Indonesia." Hoffmann said the company benefits from being a premium player, as consumers are willing to pay up for innovation. He added, "We are a premium brand and we want to be the most premium global sportswear brand. We keep on investing in quality, in our innovation, in our customer experiences, in sustainability, in social impact. ... The same is for price increases. We don't need additional price increases this year to mitigate the impact." Circle revenue jumps in first results since blockbuster IPO (Reuters) - Circle (CRCL) posted higher revenue and reserve income on Tuesday in its maiden quarterly results since going public in June, driven by increased circulation of its USDC stablecoin and stronger subscription services. Shares rose more than 7% in premarket trading, solidifying the rally that has pushed the company's stock to more than five times its initial public offering price. Read more here. Smithfield Foods lifts profit outlook after strong sales Smithfield Foods Inc. (SFD), stock fell 2% before the bell despite raising its profit expectations following a strong second-quarter. The largest pork producer in the US cited challenges stemming from tariffs imposed by President Trump on some of the biggest importers of the meat. Bloomberg News reports: Read more here. Tencent Music beats quarterly revenue estimates Reuters reports: Tencent Music Entertainment (TME) surpassed second-quarter revenue expectations on Tuesday, driven by stronger subscriber growth and rising engagement with long-form audio content such as podcasts and audiobooks. The company's New York stock rose 3% before the bell on Tuesday. Read more here. Oklo stock has rallied 230% this year, but it's slipping on Q2 results Shares of nuclear energy company Oklo (OKLO) fell after the closing bell on Monday as second quarter results failed to meet Wall Street's lofty expectations. The advanced fission company reported a net loss of $34.5 million in Q2, or $0.18 per share, compared to a loss of $0.27 per share during the same period last year. All the same, Wall Street analysts were hoping for an $0.11 per share loss. Oklo stock went into earnings as an outperformer. Year to date, shares are up 238%, compared to an 8% rise in the S&P 500 (^GSPC), as several tailwinds have fueled the stock's rise. These include President Trump's executive orders supportive of the nuclear industry, a wave of demand for artificial intelligence and data centers, and several deals Oklo inked during the year. stock sells off as losses accelerate (BBAI) stock tumbled 20% after the company reported a wide earnings and revenue miss and lowered its revenue guidance. Here's what the AI software firm reported compared to estimates, according to S&P Global Market Intelligence: BigBear, which provides software to the US government, noted that Department of Government Efficiency (DOGE) cuts weighed on the business. 'While we are very optimistic with ... growth opportunities, we have also seen disruptions in federal contracts from efficiency efforts this quarter, most notably in programs that support the U.S. Army, as they seek to consolidate and modernize their data architecture and in turn, we have adjusted our full-year guidance this quarter to reflect these disruptions,' CEO Kevin McAleenan said in the earnings release. Listen to earnings call live on the stock page. Plug Power stock falls on earnings miss Primary hydrogen player Plug Power (PLUG) continues to grow its top line, but a larger-than-expected loss disappointed in the second quarter. Plug Power reported a $0.20 loss per share, a wider loss than the $0.15 per share Wall Street expected, according to S&P Global Market Intelligence. The company posted $174 million in revenue, a 21% increase year over year, above estimates for $157 million, and on the high end of its previous forecast for between $140 million and $180 million in Q2 revenue. The company's gross margin remained negative at -31%, though it marked an improvement from the -92% margin in the same quarter a year ago. Plug Power said it expects to achieve breakeven in its gross margin run rate in Q4 2025. Plug also held $140 million in unrestricted cash and cash equivalents at the end of the quarter. The stock fell more than 5% in after-hours trading. Year to date, the stock is down 25%, though investors grew more bullish on the stock in July following the passage of the One Big Beautiful Bill Act, which Plug Power called "a major policy win." The tax and spending law extended the hydrogen production tax credit, providing a 30% credit on fuel cell purchases and more certainty to the industry. Listen to the earnings call live here. stock falls 24% on sales miss, CEO health struggles Inc. (AI) stock tumbled as much as 30% after the software company reported a steep sales miss that it attributed to its founder's health issues. Bloomberg reports: Read more here. Micron raises forecast, stock pops Micron Technology (MU) stock rose around 4% in early trading on Monday after the semiconductor company raised its forecast for fourth-quarter revenue and adjusted profit, citing surging demand for its memory chips used in artificial intelligence infrastructure. Micron is expected to reported fiscal fourth quarter earnings on Sept. 24. Read more here. AMC tops revenue estimates as blockbuster titles boost theater attendance AMC (AMC) stock jumped 8.8% in premarket trading after the movie theater chain reported attendance in the second quarter grew nearly 26% as blockbusters drew in moviegoers. The company also reported a narrower-than-expected loss per share of $0.01, compared to estimates of a loss of $0.06 per share. Reuters reports: Read more here. stock tanks following earnings (MNDY) stock fell as much as 20% after the project management software company missed earnings estimates. In the second quarter, reported earnings of $0.03 per share and revenue of $299 million. While revenue beat analyst expectations of $293 million, GAAP profits fell short, as Wall Street was looking for $0.20 per share, per S&P Global Market Intelligence. Investors have been looking for signs that economic uncertainty is pushing companies to pull back their spending on technology and software. The Israeli-based company's operating loss fell to $11.6 million from $1.8 million a year ago, and the operating margin fell to negative 4% from 1% last year. kept its full-year forecast roughly the same. It expects total revenue to grow about 26% to a range of $1.224 billion to $1.229 billion in 2025. 'This quarter demonstrated our relentless focus on driving highly efficient growth at scale, and I'm energized by the momentum in our business and the opportunities we see ahead,' CFO Eliran Glazer said in the earnings release. 'As we navigate the shifting landscape, we remain focused on the factors we can control — executing on our innovation roadmap, bolstering our go-to-market efforts to serve customers of all sizes, driving best-in-class operational efficiencies, and delivering products people love.' Earnings have been mostly solid According to FactSet's tally, 90% of S&P 500 companies have reported second quarter earnings so far, meaning the end of earnings season is in sight (though certainly not complete until Nvidia's (NVDA) report on Aug. 27). It's been a good earnings season: More than 8 in 10 companies have reported both a positive earnings per share surprise and a positive revenue surprise. Some other key updates from FactSet's senior earnings analyst John Butters: Read more here. Cisco forecasts higher-than-expected quarterly revenue on increased demand Cisco Systems (CSCO) reported adjusted earnings per share of $0.99 in the fiscal fourth quarter, barely beating estimates of $0.98. Revenue was $14.67 billion versus an estimate of $14.63 billion. Its fiscal first quarter forecast for revenue was also better than expected, as the AI boom boosted demand for networking equipment from cloud customers. Though Cisco stock fell 2% after hours. Reuters reports: Read more here Cisco Systems (CSCO) reported adjusted earnings per share of $0.99 in the fiscal fourth quarter, barely beating estimates of $0.98. Revenue was $14.67 billion versus an estimate of $14.63 billion. Its fiscal first quarter forecast for revenue was also better than expected, as the AI boom boosted demand for networking equipment from cloud customers. Though Cisco stock fell 2% after hours. Reuters reports: Read more here Brinker International stock pops as Chili's drives earnings beat Brinker International (EAT) stock jumped 9% in premarket trading on Wednesday after the restaurant group reported earnings and revenue that topped estimates, powered by another quarter of strong sales at Chili's. The company reported net income of $107 million, or $2.49 per share on an adjusted basis, on revenue of $1.46 billion in the fiscal fourth quarter. During the same period last year, Brinker posted net income of $57.3 million ($1.24 per share) on $1.2 billion in revenue. The results were also better than Wall Street expected. Estimates going into the report were for adjusted diluted earnings per share of $2.47 and revenue of $1.44 billion. Chili's was the standout this quarter, with 23.7% sales growth and 16% traffic growth. Comparable sales at Maggiano's declined 0.4%. "With that sustained momentum, along with a strong pipeline of initiatives, we are confident in our ability to grow sales and traffic throughout Fiscal 2026," CEO Kevin Hochman said in a statement. "Chili's is officially back, baby back!" Brinker expects fiscal 2026 revenue to be between $5.6 billion and $5.7 billion. It sees full-year earnings per share at $9.90 to $10.50. Brinker International (EAT) stock jumped 9% in premarket trading on Wednesday after the restaurant group reported earnings and revenue that topped estimates, powered by another quarter of strong sales at Chili's. The company reported net income of $107 million, or $2.49 per share on an adjusted basis, on revenue of $1.46 billion in the fiscal fourth quarter. During the same period last year, Brinker posted net income of $57.3 million ($1.24 per share) on $1.2 billion in revenue. The results were also better than Wall Street expected. Estimates going into the report were for adjusted diluted earnings per share of $2.47 and revenue of $1.44 billion. Chili's was the standout this quarter, with 23.7% sales growth and 16% traffic growth. Comparable sales at Maggiano's declined 0.4%. "With that sustained momentum, along with a strong pipeline of initiatives, we are confident in our ability to grow sales and traffic throughout Fiscal 2026," CEO Kevin Hochman said in a statement. "Chili's is officially back, baby back!" Brinker expects fiscal 2026 revenue to be between $5.6 billion and $5.7 billion. It sees full-year earnings per share at $9.90 to $10.50. Dutch Bros CEO says company in 'growth mode' as Starbucks turnaround stokes beverage competition Yahoo Finance's Brooke DiPalma reports: Read more here. Yahoo Finance's Brooke DiPalma reports: Read more here. Tencent's revenue beats estimates in boost for AI ambitions Bloomberg News reports: Read more here. Bloomberg News reports: Read more here. Cava stock plummets after company misses some of Wall Street's marks, cuts guidance Cava (CAVA) missed Wall Street's mark for revenue and same-store sales growth in its second quarterly earnings report. The company's revenue came in at $280.62 million, below the $285.56 million Wall Street expected, per Bloomberg consensus estimates. Adjusted earnings beat by $0.03, coming in at $0.16. Same-store sales came in lower than expected, up 2.1%, driven by menu prices and product mix. Meanwhile, guest foot traffic was flat, far less than the 6.14% jump expected by the Street. In the release, CEO Brett Schulman called it a "fluid macroeconomic environment," adding that it "continued to grow market share" during the quarter. For the full year, the company expects same-store sales growth of 4% to 6%, down from the previously expected range of 6% to 8%. Cava (CAVA) missed Wall Street's mark for revenue and same-store sales growth in its second quarterly earnings report. The company's revenue came in at $280.62 million, below the $285.56 million Wall Street expected, per Bloomberg consensus estimates. Adjusted earnings beat by $0.03, coming in at $0.16. Same-store sales came in lower than expected, up 2.1%, driven by menu prices and product mix. Meanwhile, guest foot traffic was flat, far less than the 6.14% jump expected by the Street. In the release, CEO Brett Schulman called it a "fluid macroeconomic environment," adding that it "continued to grow market share" during the quarter. For the full year, the company expects same-store sales growth of 4% to 6%, down from the previously expected range of 6% to 8%. CoreWeave Q2 revenue beats estimates, but results come up against high bar Nvidia (NVDA)-backed AI cloud company CoreWeave (CRWV) delivered solid revenue growth in its second quarterly report since going public, but its loss per share widened. The stock fell 6% in after-hours trading. Wall Street expected strong top-line numbers going into earnings, as robust AI demand, a deal with Core Scientific, and a $4 billion expansion deal with OpenAI ( fueled the quarter. Two of CoreWeave's key customers, Microsoft (MSFT) and Meta (META), also reaffirmed their spending plans going into the quarter in a bullish sign for AI demand. Here are some key figures CoreWeave reported versus estimates compiled by S&P Global Market Intelligence: Revenue beat: $1.21 billion, versus $1.08 billion estimated and $395.4 million a year ago. Wider loss per share: $0.60 loss per share, compared to a $0.49 loss estimated. Operating expenses increased: $1.19 billion in the quarter, compared to $317 million a year ago. Lighter capital expenditures on property and equipment: $2.45 billion, compared to estimates of $3.54 billion. Revenue backlog increased: $30.1 billion, as of June 30. In the first quarter, the company's backlog was $25.9 billion. "Our strong second quarter performance demonstrates continued momentum across every dimension of our business," CEO and co-founder Michael Intrator said in the earnings release. "We are scaling rapidly as we look to meet the unprecedented demand for AI.' CoreWeave said it will provide forward-looking guidance on its earnings call at 5 p.m. ET. You can listen to that call live on the company's stock page. Read more here. Nvidia (NVDA)-backed AI cloud company CoreWeave (CRWV) delivered solid revenue growth in its second quarterly report since going public, but its loss per share widened. The stock fell 6% in after-hours trading. Wall Street expected strong top-line numbers going into earnings, as robust AI demand, a deal with Core Scientific, and a $4 billion expansion deal with OpenAI ( fueled the quarter. Two of CoreWeave's key customers, Microsoft (MSFT) and Meta (META), also reaffirmed their spending plans going into the quarter in a bullish sign for AI demand. Here are some key figures CoreWeave reported versus estimates compiled by S&P Global Market Intelligence: Revenue beat: $1.21 billion, versus $1.08 billion estimated and $395.4 million a year ago. Wider loss per share: $0.60 loss per share, compared to a $0.49 loss estimated. Operating expenses increased: $1.19 billion in the quarter, compared to $317 million a year ago. Lighter capital expenditures on property and equipment: $2.45 billion, compared to estimates of $3.54 billion. Revenue backlog increased: $30.1 billion, as of June 30. In the first quarter, the company's backlog was $25.9 billion. "Our strong second quarter performance demonstrates continued momentum across every dimension of our business," CEO and co-founder Michael Intrator said in the earnings release. "We are scaling rapidly as we look to meet the unprecedented demand for AI.' CoreWeave said it will provide forward-looking guidance on its earnings call at 5 p.m. ET. You can listen to that call live on the company's stock page. Read more here. offers robotaxi production update as revenue surges Chinese robotaxi operator (PONY) reported revenue grew 76% year over year in the second quarter as the business scaled its autonomous vehicle production. The stock was up more than 1% in premarket trading but pared gains during the earnings call (you can listen to it live here). The Toyota-backed (TM) company began mass production of its two robotaxi models in June and July, respectively. Robotaxi revenue also surged over 300% to $1.5 million in the quarter. "Since mass production started two months ago, over 200 Gen-7 Robotaxi vehicles have rolled off the production line, putting us firmly on track to hit the year-end 1,000-vehicle target," CEO James Peng said in a statement. The company is still on its journey to profitability. For the quarter, it posted a net loss of $53.3 million (loss of $0.14 per share), compared to a loss of $30.9 million in the same period a year ago. Chinese robotaxi operator (PONY) reported revenue grew 76% year over year in the second quarter as the business scaled its autonomous vehicle production. The stock was up more than 1% in premarket trading but pared gains during the earnings call (you can listen to it live here). The Toyota-backed (TM) company began mass production of its two robotaxi models in June and July, respectively. Robotaxi revenue also surged over 300% to $1.5 million in the quarter. "Since mass production started two months ago, over 200 Gen-7 Robotaxi vehicles have rolled off the production line, putting us firmly on track to hit the year-end 1,000-vehicle target," CEO James Peng said in a statement. The company is still on its journey to profitability. For the quarter, it posted a net loss of $53.3 million (loss of $0.14 per share), compared to a loss of $30.9 million in the same period a year ago. Trading platform eToro beats profit estimates (Reuters) - Stock and crypto trading platform eToro beat Wall Street views for profit in the second quarter on Tuesday, as retail investors maintained a firm risk appetite despite broader macroeconomic uncertainty due to new tariffs. Shares of eToro rose in premarket trading after results. Retail trading activity has been strong this year, buoyed by gains in U.S. equity markets and renewed interest in high-risk assets such as cryptocurrencies and tech stocks. Read more here. (Reuters) - Stock and crypto trading platform eToro beat Wall Street views for profit in the second quarter on Tuesday, as retail investors maintained a firm risk appetite despite broader macroeconomic uncertainty due to new tariffs. Shares of eToro rose in premarket trading after results. Retail trading activity has been strong this year, buoyed by gains in U.S. equity markets and renewed interest in high-risk assets such as cryptocurrencies and tech stocks. Read more here. On stock jumps on sales beat, CEO weighs in on tariffs Footwear company On Holding (ONON) stock gained 7% in early trading after beating second quarter sales estimates and raising its full-year sales guidance. Net sales increased by 38.2% year over year on a constant currency basis, with revenue coming in at 749 million Swiss francs. The company reported a diluted loss per share of CHF 0.12, a loss of around $0.15. In 2025, net sales are expected to be up at least 31% year over year on a constant currency basis. Previously, the company guided for sales to be up at least 28%. On also expanded its adjusted EBITDA margin to 17%-17.5% from 16.5%-17.5% previously. "On has a very strong momentum across the world," CEO Martin Hoffmann told Yahoo Finance, "This is most visible in our growth of our DTC channel, which has seen 55% growth in the quarter." Investors were pleased with On's ability to mitigate the tariffs successfully on its key sourcing region, Vietnam. "Our industry has always been exposed to tariffs in the US," Hoffmann said. "This is nothing new for us. ... We have been paying around 20% of most of our imports, and now this number goes up to 40% for importations from Vietnam and 39% for Indonesia." Hoffmann said the company benefits from being a premium player, as consumers are willing to pay up for innovation. He added, "We are a premium brand and we want to be the most premium global sportswear brand. We keep on investing in quality, in our innovation, in our customer experiences, in sustainability, in social impact. ... The same is for price increases. We don't need additional price increases this year to mitigate the impact." Footwear company On Holding (ONON) stock gained 7% in early trading after beating second quarter sales estimates and raising its full-year sales guidance. Net sales increased by 38.2% year over year on a constant currency basis, with revenue coming in at 749 million Swiss francs. The company reported a diluted loss per share of CHF 0.12, a loss of around $0.15. In 2025, net sales are expected to be up at least 31% year over year on a constant currency basis. Previously, the company guided for sales to be up at least 28%. On also expanded its adjusted EBITDA margin to 17%-17.5% from 16.5%-17.5% previously. "On has a very strong momentum across the world," CEO Martin Hoffmann told Yahoo Finance, "This is most visible in our growth of our DTC channel, which has seen 55% growth in the quarter." Investors were pleased with On's ability to mitigate the tariffs successfully on its key sourcing region, Vietnam. "Our industry has always been exposed to tariffs in the US," Hoffmann said. "This is nothing new for us. ... We have been paying around 20% of most of our imports, and now this number goes up to 40% for importations from Vietnam and 39% for Indonesia." Hoffmann said the company benefits from being a premium player, as consumers are willing to pay up for innovation. He added, "We are a premium brand and we want to be the most premium global sportswear brand. We keep on investing in quality, in our innovation, in our customer experiences, in sustainability, in social impact. ... The same is for price increases. We don't need additional price increases this year to mitigate the impact." Circle revenue jumps in first results since blockbuster IPO (Reuters) - Circle (CRCL) posted higher revenue and reserve income on Tuesday in its maiden quarterly results since going public in June, driven by increased circulation of its USDC stablecoin and stronger subscription services. Shares rose more than 7% in premarket trading, solidifying the rally that has pushed the company's stock to more than five times its initial public offering price. Read more here. (Reuters) - Circle (CRCL) posted higher revenue and reserve income on Tuesday in its maiden quarterly results since going public in June, driven by increased circulation of its USDC stablecoin and stronger subscription services. Shares rose more than 7% in premarket trading, solidifying the rally that has pushed the company's stock to more than five times its initial public offering price. Read more here. Smithfield Foods lifts profit outlook after strong sales Smithfield Foods Inc. (SFD), stock fell 2% before the bell despite raising its profit expectations following a strong second-quarter. The largest pork producer in the US cited challenges stemming from tariffs imposed by President Trump on some of the biggest importers of the meat. Bloomberg News reports: Read more here. Smithfield Foods Inc. (SFD), stock fell 2% before the bell despite raising its profit expectations following a strong second-quarter. The largest pork producer in the US cited challenges stemming from tariffs imposed by President Trump on some of the biggest importers of the meat. Bloomberg News reports: Read more here. Tencent Music beats quarterly revenue estimates Reuters reports: Tencent Music Entertainment (TME) surpassed second-quarter revenue expectations on Tuesday, driven by stronger subscriber growth and rising engagement with long-form audio content such as podcasts and audiobooks. The company's New York stock rose 3% before the bell on Tuesday. Read more here. Reuters reports: Tencent Music Entertainment (TME) surpassed second-quarter revenue expectations on Tuesday, driven by stronger subscriber growth and rising engagement with long-form audio content such as podcasts and audiobooks. The company's New York stock rose 3% before the bell on Tuesday. Read more here. Oklo stock has rallied 230% this year, but it's slipping on Q2 results Shares of nuclear energy company Oklo (OKLO) fell after the closing bell on Monday as second quarter results failed to meet Wall Street's lofty expectations. The advanced fission company reported a net loss of $34.5 million in Q2, or $0.18 per share, compared to a loss of $0.27 per share during the same period last year. All the same, Wall Street analysts were hoping for an $0.11 per share loss. Oklo stock went into earnings as an outperformer. Year to date, shares are up 238%, compared to an 8% rise in the S&P 500 (^GSPC), as several tailwinds have fueled the stock's rise. These include President Trump's executive orders supportive of the nuclear industry, a wave of demand for artificial intelligence and data centers, and several deals Oklo inked during the year. Shares of nuclear energy company Oklo (OKLO) fell after the closing bell on Monday as second quarter results failed to meet Wall Street's lofty expectations. The advanced fission company reported a net loss of $34.5 million in Q2, or $0.18 per share, compared to a loss of $0.27 per share during the same period last year. All the same, Wall Street analysts were hoping for an $0.11 per share loss. Oklo stock went into earnings as an outperformer. Year to date, shares are up 238%, compared to an 8% rise in the S&P 500 (^GSPC), as several tailwinds have fueled the stock's rise. These include President Trump's executive orders supportive of the nuclear industry, a wave of demand for artificial intelligence and data centers, and several deals Oklo inked during the year. stock sells off as losses accelerate (BBAI) stock tumbled 20% after the company reported a wide earnings and revenue miss and lowered its revenue guidance. Here's what the AI software firm reported compared to estimates, according to S&P Global Market Intelligence: BigBear, which provides software to the US government, noted that Department of Government Efficiency (DOGE) cuts weighed on the business. 'While we are very optimistic with ... growth opportunities, we have also seen disruptions in federal contracts from efficiency efforts this quarter, most notably in programs that support the U.S. Army, as they seek to consolidate and modernize their data architecture and in turn, we have adjusted our full-year guidance this quarter to reflect these disruptions,' CEO Kevin McAleenan said in the earnings release. Listen to earnings call live on the stock page. (BBAI) stock tumbled 20% after the company reported a wide earnings and revenue miss and lowered its revenue guidance. Here's what the AI software firm reported compared to estimates, according to S&P Global Market Intelligence: BigBear, which provides software to the US government, noted that Department of Government Efficiency (DOGE) cuts weighed on the business. 'While we are very optimistic with ... growth opportunities, we have also seen disruptions in federal contracts from efficiency efforts this quarter, most notably in programs that support the U.S. Army, as they seek to consolidate and modernize their data architecture and in turn, we have adjusted our full-year guidance this quarter to reflect these disruptions,' CEO Kevin McAleenan said in the earnings release. Listen to earnings call live on the stock page. Plug Power stock falls on earnings miss Primary hydrogen player Plug Power (PLUG) continues to grow its top line, but a larger-than-expected loss disappointed in the second quarter. Plug Power reported a $0.20 loss per share, a wider loss than the $0.15 per share Wall Street expected, according to S&P Global Market Intelligence. The company posted $174 million in revenue, a 21% increase year over year, above estimates for $157 million, and on the high end of its previous forecast for between $140 million and $180 million in Q2 revenue. The company's gross margin remained negative at -31%, though it marked an improvement from the -92% margin in the same quarter a year ago. Plug Power said it expects to achieve breakeven in its gross margin run rate in Q4 2025. Plug also held $140 million in unrestricted cash and cash equivalents at the end of the quarter. The stock fell more than 5% in after-hours trading. Year to date, the stock is down 25%, though investors grew more bullish on the stock in July following the passage of the One Big Beautiful Bill Act, which Plug Power called "a major policy win." The tax and spending law extended the hydrogen production tax credit, providing a 30% credit on fuel cell purchases and more certainty to the industry. Listen to the earnings call live here. Primary hydrogen player Plug Power (PLUG) continues to grow its top line, but a larger-than-expected loss disappointed in the second quarter. Plug Power reported a $0.20 loss per share, a wider loss than the $0.15 per share Wall Street expected, according to S&P Global Market Intelligence. The company posted $174 million in revenue, a 21% increase year over year, above estimates for $157 million, and on the high end of its previous forecast for between $140 million and $180 million in Q2 revenue. The company's gross margin remained negative at -31%, though it marked an improvement from the -92% margin in the same quarter a year ago. Plug Power said it expects to achieve breakeven in its gross margin run rate in Q4 2025. Plug also held $140 million in unrestricted cash and cash equivalents at the end of the quarter. The stock fell more than 5% in after-hours trading. Year to date, the stock is down 25%, though investors grew more bullish on the stock in July following the passage of the One Big Beautiful Bill Act, which Plug Power called "a major policy win." The tax and spending law extended the hydrogen production tax credit, providing a 30% credit on fuel cell purchases and more certainty to the industry. Listen to the earnings call live here. stock falls 24% on sales miss, CEO health struggles Inc. (AI) stock tumbled as much as 30% after the software company reported a steep sales miss that it attributed to its founder's health issues. Bloomberg reports: Read more here. Inc. (AI) stock tumbled as much as 30% after the software company reported a steep sales miss that it attributed to its founder's health issues. Bloomberg reports: Read more here. Micron raises forecast, stock pops Micron Technology (MU) stock rose around 4% in early trading on Monday after the semiconductor company raised its forecast for fourth-quarter revenue and adjusted profit, citing surging demand for its memory chips used in artificial intelligence infrastructure. Micron is expected to reported fiscal fourth quarter earnings on Sept. 24. Read more here. Micron Technology (MU) stock rose around 4% in early trading on Monday after the semiconductor company raised its forecast for fourth-quarter revenue and adjusted profit, citing surging demand for its memory chips used in artificial intelligence infrastructure. Micron is expected to reported fiscal fourth quarter earnings on Sept. 24. Read more here. AMC tops revenue estimates as blockbuster titles boost theater attendance AMC (AMC) stock jumped 8.8% in premarket trading after the movie theater chain reported attendance in the second quarter grew nearly 26% as blockbusters drew in moviegoers. The company also reported a narrower-than-expected loss per share of $0.01, compared to estimates of a loss of $0.06 per share. Reuters reports: Read more here. AMC (AMC) stock jumped 8.8% in premarket trading after the movie theater chain reported attendance in the second quarter grew nearly 26% as blockbusters drew in moviegoers. The company also reported a narrower-than-expected loss per share of $0.01, compared to estimates of a loss of $0.06 per share. Reuters reports: Read more here. stock tanks following earnings (MNDY) stock fell as much as 20% after the project management software company missed earnings estimates. In the second quarter, reported earnings of $0.03 per share and revenue of $299 million. While revenue beat analyst expectations of $293 million, GAAP profits fell short, as Wall Street was looking for $0.20 per share, per S&P Global Market Intelligence. Investors have been looking for signs that economic uncertainty is pushing companies to pull back their spending on technology and software. The Israeli-based company's operating loss fell to $11.6 million from $1.8 million a year ago, and the operating margin fell to negative 4% from 1% last year. kept its full-year forecast roughly the same. It expects total revenue to grow about 26% to a range of $1.224 billion to $1.229 billion in 2025. 'This quarter demonstrated our relentless focus on driving highly efficient growth at scale, and I'm energized by the momentum in our business and the opportunities we see ahead,' CFO Eliran Glazer said in the earnings release. 'As we navigate the shifting landscape, we remain focused on the factors we can control — executing on our innovation roadmap, bolstering our go-to-market efforts to serve customers of all sizes, driving best-in-class operational efficiencies, and delivering products people love.' (MNDY) stock fell as much as 20% after the project management software company missed earnings estimates. In the second quarter, reported earnings of $0.03 per share and revenue of $299 million. While revenue beat analyst expectations of $293 million, GAAP profits fell short, as Wall Street was looking for $0.20 per share, per S&P Global Market Intelligence. Investors have been looking for signs that economic uncertainty is pushing companies to pull back their spending on technology and software. The Israeli-based company's operating loss fell to $11.6 million from $1.8 million a year ago, and the operating margin fell to negative 4% from 1% last year. kept its full-year forecast roughly the same. It expects total revenue to grow about 26% to a range of $1.224 billion to $1.229 billion in 2025. 'This quarter demonstrated our relentless focus on driving highly efficient growth at scale, and I'm energized by the momentum in our business and the opportunities we see ahead,' CFO Eliran Glazer said in the earnings release. 'As we navigate the shifting landscape, we remain focused on the factors we can control — executing on our innovation roadmap, bolstering our go-to-market efforts to serve customers of all sizes, driving best-in-class operational efficiencies, and delivering products people love.' Earnings have been mostly solid According to FactSet's tally, 90% of S&P 500 companies have reported second quarter earnings so far, meaning the end of earnings season is in sight (though certainly not complete until Nvidia's (NVDA) report on Aug. 27). It's been a good earnings season: More than 8 in 10 companies have reported both a positive earnings per share surprise and a positive revenue surprise. Some other key updates from FactSet's senior earnings analyst John Butters: Read more here. According to FactSet's tally, 90% of S&P 500 companies have reported second quarter earnings so far, meaning the end of earnings season is in sight (though certainly not complete until Nvidia's (NVDA) report on Aug. 27). It's been a good earnings season: More than 8 in 10 companies have reported both a positive earnings per share surprise and a positive revenue surprise. Some other key updates from FactSet's senior earnings analyst John Butters: Read more here. Sign in to access your portfolio
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S&P 500, Nasdaq Clinch New Highs as September Rate Cut Seen Near Certain
The S&P 500 and the Nasdaq Composite clinched record highs on Wednesday as traders bet that a Federa Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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S&P 500 Gains & Losses Today: Amazon Expands Same-Day Food Deliveries, Hitting Kroger, DoorDash
Key Takeaways The S&P 500 added 0.3% on Wednesday, Aug. 13, 2025, posting a record closing high for the second straight day after mellow inflation data raised rate-cut expectations. Amazon said it would expand its same-day food delivery service to additional markets. Shares of grocery store operators and food delivery competitors fell. Paramount Skydance shares soared as analysts anticipated ambitious content and sports rights acquisition plans. Major U.S. equities indexes gained ground Wednesday as consensus solidified around the likelihood of the Federal Reserve lowering interest rates at its next meeting. The growing confidence in rate cuts followed Tuesday's release of soft inflation data, which likely gave policymakers more leeway to loosen monetary policy. The S&P 500 advanced 0.3% to secure an all-time closing high for the second straight session. The Nasdaq also added on to Tuesday's record close with an uptick of 0.1%, while the Dow surged 1% to end just below its closing record established in December. Read Investopedia's full coverage of today's trading here. Paramount Skydance (PSKY) shares skyrocketed 37%, extending gains posted in the prior session and logging the S&P 500's top daily performance. The newly minted media giant, which began trading as a combined entity last week following a prolonged merger process between Skydance Media and the former Paramount Global, grabbed headlines Monday with the announcement of a $7.7 billion, seven-year agreement to acquire the exclusive broadcasting rights for Ultimate Fighting Championship events. Its comparatively small float led commentator Jim Cramer to call it a meme stock today, likely fueling the fire. Shares of fellow entertainment conglomerate Warner Bros. Discovery (WBD) rose 7.4%. The company said it would partner with streaming service Viu to launch a bundling package in Southeast Asia. Growing anticipation that the Federal Reserve will cut interest rates at its September meeting and the potential for additional cuts later this year helped bolster shares of home builders. The housing market has been pressured by elevated mortgage rates, which limit affordability for potential homebuyers, so the prospect of lower borrowing costs represents a positive signal for the residential construction business. PulteGroup (PHM) stock gained 5.4%, while shares of Lennar (LEN) added 5.2%. Shares of electronic circuit board manufacturer Jabil (JBL) declined 4.9%, falling the most of any S&P 500 stock. Wednesday's slide gave back gains posted in the prior trading session, but even after the downtick, Jabil stock has more than doubled in value over the past year, boosted by demand for hardware related to artificial intelligence processes. Amazon (AMZN) announced plans to to offer same-day grocery deliveries, including perishable items, in 2,300 cities and towns in the U.S. by the end of the year, a major jump from the more than 1,000 where the service is currently available. Amazon stock moved 1.4% higher, but shares of grocery and food delivery competitors lost ground. Shares of Kroger (KR), operator of the largest chain of traditional grocery stores in the U.S., slipped 4.4%. DoorDash (DASH) stock lost 3.8%. Oracle (ORCL) shares dropped 3.8% following reports that the database technology firm has cut jobs from its cloud infrastructure division. The staff reductions at Oracle, which aims to compete with Amazon and Microsoft (MSFT) in the enterprise cloud services market, are reportedly part of a strategy to shift more resources toward meeting the growing demand for AI-enabled products. Read the original article on Investopedia
