Stocks

Today’s Stocks to Watch: Boeing, Trump Media, and Palantir

November 5, 2024 OnEquity

Key points:

  • Trump Media & Technology shares rise 10% on election volatility
  • Cleveland-Cliffs falls 6% on quarterly losses
  • Palantir rises 14% on higher revenue guidance

Trump Media & Technology Shares Up 10% (DJT)

Stock in the parent company of Truth Social was up 10% in recent trading before the market opened. The stock has been volatile for weeks, acting as a proxy for election expectations.

Tech Firm Palantir (PLTR) Boosts Sales and Expectations

The software company reported strong sales and raised its revenue forecast due to high demand for its artificial intelligence products. Shares jumped 14% in pre-market trading.

Boeing (BA) Finalizes Labor Agreement

The aircraft maker’s machinists endorsed a new labor agreement Monday night, ending a weeks-long strike and clearing the way to resume factory operations. Shares were up 1.5% in preliminary trading.

DuPont (DD) Improves Earnings and Raises Annual Guidance

The chemicals and materials company posted better-than-expected quarterly earnings and raised its outlook for the year. The stock rose in the previous session.

Cleveland-Cliffs (CLF) Suffers Quarterly Loss

The steelmaker reported a quarterly net loss and a revenue decline due to weak demand from the automotive sector. Shares fell 6% in pre-market trading. Cleveland-Cliffs is optimistic about its recent acquisition of Canadian producer Stelco (STLC), which has less exposure to the automotive market.

Dollar Tree (DLTR) Rises Following CEO’s Departure

Shares of the discount retailer rose 4% in pre-market trading after CEO Rick Dreiling resigned, citing health concerns. The company is now searching for a replacement.

Archer Daniels Midland (ADM) Cuts Profit Forecast

The agricultural company disclosed additional accounting issues and lowered its annual profit forecast. Shares were down 6% in after-hours trading.

Hims & Hers Health Increases Sales and Profits (HIMS)

The telehealth company posted a quarterly profit and raised its annual sales forecast, driven by demand for weight-loss drugs. Shares rose after the close.

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