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Salesforce shares surged over 8% following a strong earnings report, with third-quarter revenue reaching $9.44 billion, surpassing expectations. The company raised its fiscal 2025 revenue guidance and highlighted a robust pipeline for its AI agent, Agentforce, which closed over 200 deals in the quarter. Analysts from Morgan Stanley, Goldman Sachs, and Bank of America expressed optimism, raising price targets and affirming buy ratings, citing Salesforce's strategic position in the cloud industry.
Palantir Technologies saw its shares surge 23% to a record high of $51.19 after reporting a 30% revenue increase to $726 million in Q3, surpassing analyst expectations. The company also provided optimistic fourth-quarter revenue guidance of $767 million to $771 million, driven by strong U.S. government performance and growing demand for AI tools. Analysts have raised price targets, highlighting Palantir's competitive edge in generative AI and data security.
Reddit's shares surged 35% following a surprise profit in Q3, with revenue rising 68% to $348.4 million and a net income of $29.9 million. The company anticipates Q4 revenue between $385 million and $400 million, exceeding analyst expectations, while daily active users grew 47% to 97.2 million. Analysts praised Reddit's strong performance and structural improvements, likening its transformation post-IPO to a "Dr. Jekyll and Mr. Hyde" story.
Lucid Motors raised approximately $1.75 billion through a public offering, a move CEO Peter Rawlinson described as strategic to secure capital for growth and avoid a "going concern" disclosure. Despite having over $5 billion in liquidity, analysts viewed the timing as premature, leading to an 18% drop in shares. Rawlinson emphasized the importance of this capital for ongoing investments, including expanding production and launching new models.
Michael Bloom
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Salesforce Shares Surge on Strong Earnings and Promising AI Pipeline
17:50 04.12.2024
palantir shares surge 23 percent on strong earnings and positive guidance
18:04 05.11.2024
reddit shares surge on unexpected profit and optimistic revenue forecast
15:35 30.10.2024
lucid motors raises 1.75 billion amid investor concerns and stock decline
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