FTSE 100 Live: Stocks Set to Bounce on EU-US Tariff Deal
The pact was done less than a week before the deadline on Friday for the higher tariffs imposed by the US to take effect. Importantly, it includes cars.
US President Donald Trump and European Commission President Ursula von der Leyen announced the deal Sunday at his golf club in Turnberry, Scotland, although they didn't disclose the full details of the pact or release any written materials.
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Yahoo
12 minutes ago
- Yahoo
Palantir is set to report second quarter earnings after announcing $10 billion US Army deal
Palantir (PLTR) was set to report quarterly earnings Monday after the bell, with Wall Street expecting another period of double-digit growth for the defense tech firm. Wall Street analysts tracked by Bloomberg expect the company to report second quarter adjusted earnings per share of $0.14, up from $0.09 the prior year. They expect revenue to hit $939.25 billion, up roughly 39% from last year, according to Bloomberg data. 'Expectations for Palantir headed into earnings are as high as ever,' DA Davidson analyst Gil Luria told Yahoo Finance in an email. 'The company has easily exceeded expectations for several recent quarters and appears to have more momentum than any other publicly traded software company.' Read more: Live coverage of corporate earnings Palantir sells its artificial intelligence software to businesses and governments in the US and abroad. Its tech does everything from supply chain analysis to surveillance and identifying military targets, the latter of which has drawn backlash from human rights advocates. In May, Palantir stock fell 12% the day after its first quarter results as investors scrutinized the company's valuation and declining sales in its international commercial business, which sells software to businesses abroad, even as its first quarter revenue blew past Wall Street's forecasts. While analysts expect revenue from sales to governments and US businesses to continue soaring in the second quarter, they see sales in its international commercial segment declining slightly to about $147.1 billion from $148 billion last year. Boosting optimism for the future of its revenue from the US government, Palantir announced Thursday that it had inked a deal with the US Army worth up to $10 billion over the next 10 years. Wedbush analyst Dan Ives, a notable Palantir bull, said the deal is 'one of the largest ever DOD [Department of Defense] software contracts in US history.' 'We believe this deal represents an additional tailwind for PLTR with AI initiatives across the US government accelerating with AI a strategic focus on the federal front and Palantir in the sweet spot to benefit from a tidal wave of federal spending on AI,' Ives wrote in a note to investors Friday. Overall, Wall Street remains mixed on Palantir stock, however. Ives is one of 10 analysts who hold a Buy rating on shares, while 16 have a Hold rating, and five recommend selling the stock, according to Bloomberg data. Bears remain concerned that Palantir is overvalued. Palantir stock currently trades at levels 24 times the historical market multiple of the S&P 500 (^GSPC). Shares of Palantir are up more than 105% this year, relative to the S&P 500's 6.3% gain, and the stock has far outperformed the "Magnificent Seven" Big Tech stocks in 2025. 'We cannot rationalize why Palantir is the most expensive name in our software coverage,' RBC Capital Markets analyst Rishi Jaluria wrote in a note to clients Wednesday. 'Absent a substantial beat-and-raise quarter elevating the NT [near term] growth trajectory, valuation seems unsustainable.' A 'beat and raise' refers to a company's earnings surpassing Wall Street's expectations and raising its financial outlook for the upcoming Bratton is a reporter for Yahoo Finance. Follow her on Bluesky @ Email her at
Yahoo
12 minutes ago
- Yahoo
‘Morning Joe': Trump's Handling of Weak Jobs Report Would Be ‘Unthinkable a Decade Ago'
The MSNBC anchors and commentators warn Trump's firing of the Bureau of Labor Statistics data chief will lead to further distrust of U.S. job reports The 'Morning Joe' crew on Monday warned that Donald Trump's firing of Bureau of Labor Statistics Commissioner Erika McEntarfer will raise further scrutiny into the employment numbers released under the new leadership. The president fired McEntarfer on Friday after suggesting that weaker-than-expected jobs report was 'rigged.' More from TheWrap 'Morning Joe': Trump's Handling of Weak Jobs Report Would Be 'Unthinkable a Decade Ago' | Video Wondery CEO Jen Sargent to Exit as Amazon Restructures Podcasting Studio Jacob Soboroff to Join MSNBC as Senior Political Correspondent Ahead of Comcast Spinoff 'Scamanda' Creator Charlie Webster Returns With New Scammer Podcast, 'Unicorn Girl' | Exclusive 'When the numbers are good, he praises them,' Jonathan Lemire said on 'Morning Joe' Monday. 'When the numbers are bad, he gets angry, and he fires the person in charge.' Earlier this year, Trump praised the bureau's job reports – but after Friday's numbers were released he said they were rigged in favor of Democrats, noting that he is looking for 'an exceptional replacement' after he deemed the numbers subpar. 'This would have been unthinkable a decade ago before Trump came on the scene,' NYT Opinion writer Mara Gay told Lemire.'This is another example of American exceptionalism out the window.' She said that the implications of this decision will affect the credibility of the United States as a democracy. She pointed to other examples in modern history of Greece, Argentina and China, stating that their leaders fudged the numbers to appease their world leaders. Gay added that inflating publicly reported numbers will not affect the American economy – it will only cause more unrest internally. 'What Americans can expect is to see the United States lose its sense of confidence in facts and also just excellence … the political reality will catch up with him,' Gay said of Trump's refusal to accept that the economy is weakening because of his tariffs. Andrew Ross Sorkin warned that Trump's decision will stir greater distrust of facts amongst world leaders. 'Invariably when those numbers [reported by the Chinese government] come out, there are conversations about what are the real numbers,' Sorkin said. 'Nobody believes the numbers that the Chinese government provides. That is the fear about what's about to happen here in the United States.' Senior writer at 'The Dispatch' David Drucker rebutted Trump's claim that the numbers are in favor of Democrats, pointing specifically to what he called a 'horrendous' job report from President Joe Biden's administration ahead of the 2024 election. 'When the president talks about rigged numbers and that it was rigged in favor of the Democrats right before the last election, it's just flatly untrue,' David Drucker said. He said the September report ahead of the election reported worse employment numbers than Friday's report that caused Trump to fire the data chief. 'Morning Joe' anchor Joe Scarborough added that there are several examples in modern history of the practical impacts of misconstruing numbers in favor of the individual in power. 'You don't have to go to the Soviet Union to just look at the practical impacts of when leaders start to fudge the numbers,' Scarborough said. The post 'Morning Joe': Trump's Handling of Weak Jobs Report Would Be 'Unthinkable a Decade Ago' | Video appeared first on TheWrap.
Yahoo
12 minutes ago
- Yahoo
Bridgewater founder Ray Dalio urges Trump to reveal why he fired top labor official
(Reuters) -Investor Ray Dalio said on Monday he, too, would likely have fired the commissioner of the Bureau of Labor Statistics because he "believes the data is not good", but urged U.S. President Donald Trump to disclose the reasoning behind her removal. In a post on social media platform X, Dalio - founder of hedge fund Bridgewater Associates - said leaders "manipulating numbers" to suit their political objectives could be a big problem, echoing growing concern around the quality of economic data. Trump fired Bureau of Labor Statistics Commissioner Erika McEntarfer last week, accusing her of rigging the jobs figures, but did not provide evidence of the alleged manipulation. "It would be good if President Trump made his thinking clear," Dalio said. Critics have warned Trump's move could erode trust in official U.S. economic data, with chief U.S. economist Michael Feroli saying the risks of politicizing the data collection process should not be overlooked. Trump said on Sunday he would announce a new BLS commissioner within three or four days. Dalio said the method of calculating estimates for employment numbers was "obsolete and error-prone" and called for big changes to the way government assesses what is going on with the economy. "The huge revisions in Friday's employment numbers are symptomatic of this, especially because the revisions brought the numbers toward private estimates that were in fact much better," he said in his post. Dalio handed over control of Bridgewater to a new generation of investors in 2022 and has sold his remaining stake in the firm. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
