Wall Street Breakfast Palantir drops on defense cut memo
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Feb 20, 2025 Palantir's stock takes a hit following a Pentagon memo calling for budget cuts. Meanwhile, Airbus is set to ramp up plane deliveries despite supply chain challenges. Amazon has decided to shut down its Chime communications service, marking a shift in its strategy. The podcast also touches on Beyond Meat's talks with lenders to boost liquidity, as well as discussions surrounding Federal Reserve officials and the broader market trends impacting various sectors.
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Palantir Stock Drop
- Palantir's stock dropped over 10% after a leaked memo revealed potential defense budget cuts.
- The memo, from the Defense Secretary, proposes an 8% cut over five years, impacting companies like Palantir.
Airbus Delivery Projections
- Airbus plans to deliver more planes in 2025 despite supply chain issues and global trade tensions.
- They project 820 commercial plane deliveries, exceeding 2024's 766 deliveries.
Amazon Chime Discontinuation
- Amazon is discontinuing its Chime communication service, stopping new customers immediately.
- Existing organizations can use Chime until February 20th, 2026, when all support ends.