After a notable run-up last week, Palantir Technologies (PLTR, Financial) has been downgraded by HSBC from Buy to Hold, with the bank citing a full valuation after the stock's recent surge. Despite this, HSBC maintains a target price of $22 and acknowledges the company's strong acceleration in its commercial business, particularly in the US. The bank expects Palantir's revenue and EPS to grow significantly in the coming years, driven by strong demand for its AI platform and defense products.
Charles Schwab (SCHW, Financial) reported a significant drop in January's core net new assets compared to the previous month and year. However, client assets saw a slight increase from the previous month. Despite the decrease in new assets, SCHW shares traded higher in the pre-market.
Kraft Heinz (KHC, Financial) shares dipped in pre-market trading as the company reported a decline in Q4 revenue and missed consensus estimates. Despite price increases for its products, the company experienced a slight drop in organic sales, reflecting the impact of high inflation and interest rates on consumer behavior.
Vodafone (VOD, Financial) experienced a surge in its stock price amid speculation of M&A activity. Rumors suggest potential interest from American telecom companies and a new offer for its Italian unit. The company has previously rejected offers for its Italian business, but the market is abuzz with the possibility of a takeover or increased stake by a shareholder.
ARK ETFs ARKW and ARKF, managed by Cathie Wood, saw an uptick following a surge in Robinhood Markets (HOOD, Financial) shares, which jumped on positive earnings news. Robinhood's surprise profit for Q4 and robust trading activity contributed to the gains in the ETFs, where HOOD holds significant positions.
On the earnings front, Lyft (LYFT, Financial) saw a notable increase after its Q4 earnings call, while QuidelOrtho Corporation (QDEL, Financial) and Upstart Holdings (UPST, Financial) experienced declines following their earnings releases. Citigroup (C, Financial) received an upgrade from Piper Sandler to Overweight, leading to a pre-market gain for the stock.
Trading exuberance has returned, with significant market movements drawing attention. Robinhood commented on the rebound in trading activity, while Amazon (AMZN, Financial) founder Jeff Bezos sold a substantial number of shares, totaling over $4 billion. Meanwhile, Immersion (IMMR, Financial) announced a licensing agreement with Meta Platforms, and Kratos Defense & Security Solutions (KTOS, Financial) secured a significant contract with the U.S. Space Force.
Uber Technologies (UBER, Financial) announced a share repurchase program and provided a three-year outlook, expecting strong growth in gross bookings and adjusted EBITDA. The company also aims to increase its driver base through traditional and new supply pools.
SFL Corporation (SFL, Financial) reported a beat on Q4 GAAP EPS and revenue, with an increase in charter hire and adjusted EBITDA. The company highlighted its strong cash position and unencumbered vessels with significant market value.
