SUPERNEWS

Equities

Palantir's 44% Surge Leads Market Highlights, PayPal Tumbles

Palantir's 44% surge leads market movements, while PayPal faces a significant drop, and anticipation builds for Pepsi's earnings report.

By Athena Xu

ᐧ

2/8, 19:42 EST
Alibaba Group Holding Limited
Walt Disney Company
Enphase Energy, Inc.
iShares MSCI Japan Index Fund
SPDR S&P Regional Banking ETF
Cloudflare, Inc.
PepsiCo, Inc.
Palantir Technologies Inc.
PayPal Holdings, Inc.
SolarEdge Technologies, Inc.
SPDR Select Sector Fund - Consumer Staples

PayPal's Plunge, Palantir's Surge, and Anticipation for Pepsi Earnings

Palantir Technologies (PLTR): A Stellar Week

  • Impressive Gains: Palantir soared with a 44% increase week to date after a significant post-earnings jump on Tuesday, marking its best performance since November 2020. However, it remains about 45% below its all-time high from 2021.

Cloudflare (NET): Surpassing Expectations

  • Earnings Triumph: Cloudflare ended the day on a high note in the extended session by beating earnings and revenue forecasts. The company also provided an optimistic EPS outlook for the current quarter and full year.
  • Stock Status: Closed at its highest since May 2022 but still lingers more than 55% below its record peak.

Solar Sector: A Ray of Hope

  • Weekly Recovery: The Invesco Solar ETF (TAN) is on track for its best week since mid-December, propelled by Enphase and SolarEdge following positive inventory and demand insights from Enphase.
  • Yearly Perspective: Despite this week's uplift, Enphase is down by 47%, and SolarEdge has plummeted by 77% over the past twelve months.

PepsiCo (PEP): Earnings Anticipation

  • Upcoming Report: PepsiCo is set to announce earnings before Friday's opening bell. The stock has ascended approximately 4% in the three months leading up to this report.
  • Sector Performance: In comparison, Coca-Cola experienced nearly a 5% rise in the same period. The Consumer Staples Select Sector SPDR Fund (XLP) saw a more substantial gain of about 7.3%, with Target leading sector gains.

Japan Market: Bullish Sentiment Continues

  • ETF Performance: The iShares MSCI Japan ETF (EWJ) closely approaches its peak level.
    • "Fast Money" trader Tim Seymour remains bullish on Japan, highlighting potential growth ahead.
    • Since Warren Buffett disclosed his investment in five Japanese trading firms last April, notable increases have been observed across those stocks.

PayPal Holdings Inc. (PYPL): Facing Headwinds

  • Market Struggles: PayPal emerged as Nasdaq’s weakest performer with an alarming drop of over 11%. It now stands at a disheartening -32% from its mid-Feb '23 peak.
    • Competitors like Block are faring slightly better but still face their challenges.

Arm Holdings: Chipmaker’s Remarkable Day

  • Arm Holdings closed nearly up by an impressive near half-century percent though not part of VanEck Semiconductor ETF; had it been included, it would've topped as the day’s best performer against Nvidia’s three-month surge of +50%.

Regional Banking Concerns Persist

  • SPDR S&P Regional Banking ETF modestly increased today but has decreased overall this week amidst investor concerns highlighted by New York Community Bank’s significant drop.

Analyst Insights & AI Stock Warnings

The Street sources have spotlighted several key analyst calls including optimism around Disney while expressing caution towards Alibaba among others. Additionally highlighted were warnings regarding overcrowded AI-related stocks suggesting investors tread carefully within this volatile segment.

This brief encapsulates critical movements within US equities after market close—ranging from individual stock performances such as Palantir's remarkable rise to broader sector analyses