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Tuesday’s Biggest Movers: Palantir, Estee Lauder, and More

Military and AI software favorite Palantir (PLTR) will lead the tech sector higher today after gaining 17.5% in after-hours trade. The firm posted a 19.6% Y/Y increase in revenue, to $608.35 million.

Commercial revenue boosted Palantir’s top-line results by rising 32% Y/Y. It increased its customers by 35%. In the first quarter, the firm expects revenue of up to $616 million, adjusted income from operations of $196 - $200 million, and adjusted free cash flow of $800 million to $1 billion. Bears, who have a 5.29% short float on PLTR stock, cannot deny the 50% FCF margin.

Estee Lauder (EL) posted poor results on Feb. 5 on Monday morning. EL stock soared by 12% despite reporting revenue falling by 7.4% Y/Y to $4.28 billion. Investors rewarded the struggling luxury goods firm for cutting between 3% and 5% of its staff. The “Profit Recovery Plan” has similarities to Meta’s “Year of Efficiency.”

New York City Bancorp (NYCB) lost 10.6% in Monday’s trade. Markets cannot forgive or trust management for its massive write-down and 70% dividend cut. The regional bank may set a sell-off in this sector. JP Morgan defended NYCB stock, keeping its $11.50 price target. NYCB needed to raise its CET1 capital because of its acquisitions increasing the bank’s size.