Wall Street Gains Ground and Palantir Shares Stand Out
as the “new Nvidia,” surged 24% after reporting a 36% increase in revenue for the fourth quarter of 2024.
The three major Wall Street indices closed with gains on Tuesday, with stocks rising across the board. Palantir stood out, soaring over 20% following the release of its quarterly results.
The Dow Jones Industrial Average, which consists of 30 major corporations, rose 0.30% to 44,556.04 points. The broader S&P 500 gained 0.72% to 6,037.88 points, while the Nasdaq Composite climbed 1.35% to 19,654.02 points.
Palantir Technologies, the AI-driven data analytics company, saw its shares jump 24% after announcing a 36% increase in revenue, reaching $828 million in Q4 2024.
On the other hand, PepsiCo shares fell 4.51% after reporting a 0.2% decline in sales, totaling $27.78 billion compared to the previous year. Additionally, Merck plunged 9% after releasing a disappointing earnings outlook.
Sector Performance
The energy sector (+2.18%) and communication sector (+1.48%) led the gains, while utilities (-0.88%) posted the biggest losses. Within the Dow Jones, Chevron (+2.60%) and Apple (+2.10%) were among the top gainers.
Alphabet Reports Mixed Earnings
At the close of trading, investors reacted to Alphabet’s quarterly report. The stock initially gained 2.56%, but later dropped over 8% in after-hours trading after the company missed revenue estimates and projected $75 billion in capital expenditures for the year.
Alphabet, the parent company of Google, released its Q4 2024 financial results, which disappointed investors.
Shares initially rose 2.50%, closing at $207.71 per share on Tuesday, but plunged 7.98% in after-hours trading following the earnings release.
Google’s revenue grew 12% to $96.5 billion, falling short of market expectations of $96.7 billion.
Earnings per share rose 31% to $2.15, up from $1.64 in the same quarter of the previous year, surpassing Wall Street’s forecast of $2.07.
“Our AI-powered Google Cloud services are experiencing increased demand from customers,” said Alphabet CEO Sundar Pichai.

