Palantir Rises on Upgrade; Tesla Sales Climb; Meta Declines

Today's biggest winners and losers in the stock market.On this episode of Stock Movers:- Shares of Palantir (PLTR) are moving higher after DA Davidson & Co raised its recommendation to buy from neutral as it sees the technology company having a competitive advantage to artificial intelligence companies that have been at odds with the US government. Analyst Gil Luria notes that Anthropic’s recent confrontations with the US government could pose disruption risks to its enterprise customers.- Shares of Tesla (TSLA) declined at the US market open despite posting vehicles sales that beat Wall Street’s modest expectations by a wide margin, gaining in a slower-growing global market for plug-in cars. The company delivered 480,126 vehicles worldwide in the second quarter. The figure announced in a statement Thursday exceeded the average estimate compiled by Bloomberg of 396,466 vehicles. Deliveries rose 25% from a year earlier, when Tesla faced widespread consumer backlash against Chief Executive Officer Elon Musk’s polarizing work for the Trump administration.- Shares of Meta (META) declined in the Thursday session following their biggest single day jump since January. The company is developing plans for a cloud infrastructure business that will sell access to AI computing power and models, setting up a new vector of competition with industry leaders like Amazon Web Services, Microsoft Azure and Google Cloud. Meta, which has been rushing to secure expensive data centers and other infrastructure to fuel its own artificial intelligence ambitions, is forming a business to generate revenue from excess computing power sold to outside customers, according to people familiar with the matter, who asked not to be named as the details aren’t public.See omnystudio.com/listener for privacy information.