By Caroline Valetkevitch
NEW YORK (Reuters) - Shares of Palantir Technologies fell 15.1% on Tuesday in their biggest daily percentage drop since May 2022, a day after the data analytics company gave a revenue forecast that disappointed.
The stock closed at $21.40, while on Wall Street, action was more subdued, with the S&P 500 ending slightly higher and the Nasdaq down a bit.
Late on Monday, the company raised its annual... (continue reading...)
By Alexandra Alper and David Shepardson
WASHINGTON (Reuters) -The U.S. on Tuesday said it revoked some licenses that allow companies to ship goods, such as chips, to sanctioned Chinese telecommunications equipment maker Huawei Technologies .
Some companies were notified on Tuesday that their licenses were revoked effective immediately, according to one person familiar with the matter.
The move comes after the release last... (continue reading...)
By Lisa Baertlein
LOS ANGELES (Reuters) -Amazon.com on Tuesday unveiled the first of a dozen Volvo electric big rigs it plans to deploy this year to pick up cargo from the nation's busiest container seaport in Southern California.
The e-commerce giant already has eight of those semi trucks in use at the Los Angeles/Long Beach port complex, where every so-called drayage truck must be zero-emissions by 2035.
The deployment is a... (continue reading...)
Analysts at Bank of America told investors in a note Tuesday not to sell in May and go away as statistical data shows that presidential election years can see bug summer rallies.
"[The] S&P 500 (SPX) tends to have a summer rally, and Presidential election years can see big summer rallies," said the bank.
Their analysis shows that June to August is the second strongest three-month period of the year for all years going back to 1928, with the S&P 500 up 65% of the... (continue reading...)
By Doyinsola Oladipo
NEW YORK (Reuters) -Cruise operator Royal Caribbean Group is in discussions with new and existing markets around the world to recruit thousands of workers to staff its ships and private destinations to keep up with record cruise demand.
The number of people taking cruises hit a record in 2023, and with the surge in demand and larger vessels, labor needs are growing. Tourism boards and port operators from around the world... (continue reading...)
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