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Key Takeaways
- Major U.S. equities indexes were lower at midday Tuesday, with Palantir Technologies leading tech stocks lower.
- Palantir’s stock sank amid some worries that it’s overvalued, even though the AI software company posted better-than-expected quarterly results.
- Yum! Brands shares rose after the company said it was reviewing strategic options for its Pizza Hut brand.
Major U.S. equities indexes were lower at midday Tuesday, with Palantir Technologies leading tech stocks lower. The Dow Jones Industrial Average, S&P 500, and Nasdaq all lost ground.
Palantir’s (PLTR) stock sank to lead Nasdaq decliners amid some worries that it’s overvalued, even though the AI software company posted record quarterly results that blew past analysts’ estimates and raised its full-year revenue outlook for the third straight quarter.
Sarepta Therapeutics (SRPT) stock nosedived after studies of the firm’s Duchenne muscular dystrophy treatments failed to meet goals.
Uber Technologies (UBER) was one of the worst-performing stocks in the S&P 500 after the ridesharing giant issued a soft adjusted EBITDA forecast for the current quarter.
Denny’s (DENN) stock skyrocketed on news the restaurant chain is being acquired by TriArtisan Capital Advisors, Treville Capital Group, and Yadav Enterprises for $620 million in cash.
Marriott International (MAR) paced Nasdaq gainers after the hotel giant reported better-than-expected results for the third quarter, even though its Revenue Per Available Room (RevPAR) in the U.S. and Canada was weaker than analysts had anticipated.
Yum! Brands (YUM) shares rose after the company said it was reviewing strategic options for its Pizza Hut brand.
Oil and gold futures pulled back. The yield on the 10-year Treasury note ticked lower. The U.S. dollar strengthened against the euro and pound but weakened against the yen. Prices for most major cryptocurrencies fell.
