Alex Karp, CEO of Palantir Technologies, speaks on a panel titled Power, Purpose, and the New American Century at the Hill and Valley Forum at the U.S. Capitol on April 30, 2025 in Washington, DC. Kevin Dietsch | Getty Images
This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Here are five key things investors need to know to start the trading day:
1. Palantir's popcorn
Tech earnings continued yesterday with Palantir Technologies , which beat Wall Street's expectations on the top and bottom lines for the third quarter. The company also issued better-than-expected guidance for its current quarter. Here's what to know: Palantir, which provides analytics tools to other firms and government agencies, credited much of its strong performance to artificial intelligence.
The company said it expects to bring in $1.33 billion in revenue in the fourth quarter — an optimistic forecast despite the ongoing government shutdown that could jeopardize some of Palantir's contracts. Analysts expected fourth-quarter revenue of $1.19 billion, according to LSEG.
The stock initially rose following the report but has since given up those gains, dropping more than 7% in extended trading. Shares of Palantir have risen 25-fold in the past three years and are up 170% this year alone.
CEO Alex Karp used the company's earnings call to dismiss his critics, saying, "Enjoy, get some popcorn, they're crying." Karp also discussed fentanyl overdoses in the U.S., as well as Palantir's controversial deal to build software for U.S. Immigration and Customs Enforcement (ICE).
Elsewhere in tech, shares of Amazon $38 billion deal with OpenAI. Monday's gains put the stock up 14% in just the last two sessions.
$38 billion deal with OpenAI. Monday's gains put the stock up 14% in just the last two sessions. Shares of Uber beat revenue expectations for the third quarter.
beat revenue expectations for the third quarter. Follow live market updates here.
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