Here's Why Qualcomm And Palantir Are Moving

QUALCOMM, Inc. QCOM shares are trading lower after Susquehanna downgraded the stock from Positive to Neutral and lowered the price target from $175 to $155 per share.

Qualcomm develops and licenses wireless technology and also designs chips for smartphones. The firm is a leader in 5G network technology as well and Qualcomm's IP is licensed by virtually all wireless device makers.

Palantir Technologies Inc PLTR shares are trading lower by 3.85% at $21.60 amid weakness in growth stocks after a rise in the 10-year treasury yield.

Palantir builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. The company is known for Palantir Gotham, a software platform for government operatives in the defense and intelligence sectors.

See also: How to Buy Palantir Technologies (PLTR) Stock