On this episode of Stock Movers:
- Palantir Technologies (PLTR) reported a 48% increase in revenue for the second quarter to more than $1 billion, citing the “astonishing impact” of artificial intelligence technology on its business. The data software company also raised its revenue outlook for the full year to a range of $4.14 billion to $4.15 billion, exceeding analysts’ prior expectation of $3.91 billion.
- Pfizer (PFE) raised its profit forecast for the year as the drugmaker’s ongoing cost cuts helped make up for a lack of sales growth. Adjusted profits will be between $2.90 to $3.10 per share in 2025, the New York-based company said in a statement Tuesday. Pfizer had previously expected adjusted earnings of $2.80 to $3 per share. The company maintained its revenue projections of between $61 billion and $64 billion for the year.
- Yum! Brands (YUM) sales rose less than expected in the latest quarter after growth at Taco Bell and KFC was weaker than anticipated.Sales at established restaurants rose 2% from a year ago, the company said Tuesday, slightly below the average of analyst estimates. Slower growth at Taco Bell, which has helped power the company’s results in recent quarters with buzzy offerings and low prices, contributed to the miss.
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