S&P 500, Nasdaq Composite, Dow Jones Industrial Average opened higher on Tuesday after blockbuster earnings from Palantir Technologies.
Nasdaq rose 0.31% or 73.54 points higher to open at 23,665.64, wider index S&P 500 rose 0.17% or 12.11 points to 6,988.55 and Dow Jones opened 0.26% or 127.91 points higher at 49,535.57.
Shares of Palantir Tech rose nearly 9% in early trade. The government dependent chipmaker received a stronger than expected outlook for revenue growth. Annual revenue is expected to grow 61% to about $7.19 billion, Bloomberg cited the company as saying. Notably, the tech giant posted a 70% rise in its Q4 revenue to $1.41 billion.
Additionally, Walmart Inc. surpassed $1 trillion market value for the first time ever, as per Bloomberg data.
On the other hand, Paypal Holdings Inc.’s stock slumped 18% after the company missed estimates in its Q4 financial results.
(This is a developing story)
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