Shares of Palantir (PLTR) are surging after the company secured a new contract with the US Army to develop AI-powered "deep sensing" capabilities for enhanced intelligence gathering.
EVgo's (EVGO) stock has hit a two-month high after reporting better-than-expected earnings results. The company's ability to outperform on both the top and bottom lines has fueled investor confidence, despite uncertainty in the EV market.
Brown-Forman (BF-A, BF-B) stock witnessed a decline after reporting mixed third-quarter results. While the company managed to beat profit estimates, it fell short of analysts' sales expectations.
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Editor's note: This article was written by Angel Smith
Video Transcript
BRAD SMITH: Stocks moving to the upside. This morning with tech vaulting back from Tuesday's steep sell off investors eager to hear Federal Reserve Chair Jay Powell's latest remarks on the timeline for interest rate cuts this year. Let's take a look at some individual trending tickers that we're tracking here today for you. Shares of Palantir, PLTR moving higher this morning after winning a new army contract in a deal valued at over $178 million.
The company is going to make the military branch's AI powered deep sensing capabilities. Palantir is also set to unveil even more new customers at its artificial intelligence platform conference, that is Thursday. Plus shares of EVgo are in rally mode this morning. The stock hitting a two month high after surpassing the Street's expectations on the top and bottom line.
Despite a more troubling outlook for the sector EV charging provider here, believes it's well positioned to continue expanding its network and increase revenues this year. And shares of the maker of Jack Daniel's Tennessee whiskey Brown-Forman falling today. The company reporting sales in its fiscal third quarter below analyst estimates. The company did beat on profits. However, in the quarter saying that it sees trends normalizing in the liquor industry.
