Midday Movers: PLTR, SPOT, UPS, DOCU

Welcome to our midday trading roundup! Let’s take a look at the companies that are making waves in the market today.

First up, we have Palantir, the data analytics provider, whose shares surged over 24% after reporting $608.4 million in revenue for the quarter, beating the $602.4 million expected by analysts. Coherent, a materials company, also saw a 17% jump in its shares after posting stronger-than-expected quarterly results. GE Healthcare Technologies also had a great day, with shares jumping over 11% following better-than-expected earnings results.

The Chinese electric vehicle maker Li Auto saw a 9% increase in its U.S.-traded shares after a Deutsche Bank upgrade. Spotify Technology also saw a 6% jump in its shares after a price increase and cost-cutting measures helped it narrow its losses in the fourth quarter. DuPont de Nemours, BP, Willis Towers Watson, Simon Property Group, and CleanSpark all posted positive changes in their stock prices after strong earnings reports.

United Parcel Service (UPS) got a boost after being upgraded to a buy rating by UBS, causing its stock to rise by 4.6%. Check Point Software Technologies also saw a 2.4% increase in its shares after reporting strong fourth-quarter earnings. On the other hand, DocuSign announced it would lay off 6% of its workforce, which resulted in a more than 3% drop in its share price.

UBS, a Swiss bank, didn’t fare as well, as its U.S.-traded shares dropped over 5% following its second straight quarter of losses and revenue falling short of expectations. FMC, a chemical manufacturing company, saw a 10% drop in its shares after posting weaker-than-expected quarterly results and issuing poor guidance. Rambus, a chipmaker, also experienced a 16% decline in its shares after reporting a year-over-year decline in revenue in the fourth quarter.

It’s been an eventful midday in the market, with some companies enjoying significant gains and others facing challenges. Keep an eye on these movers and shakers as the trading day continues!

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