Here's Why Palantir, Pinterest, Ford, Activision Are Moving
One of the most common questions traders have about stocks is “Why Is It Moving?”
That’s why Benzinga created the Why Is It Moving, or WIIM, feature in Benzinga Pro. WIIMs are a one-sentence description as to why a stock is moving.
Here’s why shares of Palantir, Pinterest, Ford and Activision are moving Friday.
Shares of Palantir Technologies Inc (NYSE:PLTR) are trading higher after the company reported an extension of its existing deal with BP plc (NYSE:BP) to support the energy company’s goal of transforming into a net zero emitter by 2050.
According to the press release, Palantir will provide its software to BP at the enterprise level, with global deployment across the organization in a multiyear, multimillion-dollar deal.
Palantir and BP have partnered since 2014, and Palantir’s software has been a key accelerant in BP's digital transformation. BP has now committed to using Palantir’s Foundry software for five more years and applying it to new areas of business to further accelerate the oil company's strategic digitization objectives and energy transition goals.
Shares of Pinterest Inc (NYSE:PINS) are trading higher after the company reported better-than-expected fourth-quarter EPS and sales results.
Pinterest is an online product and idea discovery platform that helps users gather ideas on everything from recipes to travel destinations. The company generates revenue primarily by selling digital ads and continues to roll out more in-platform e-commerce features.
Ford designs, manufactures, markets, and services a range of cars, trucks, sport utility vehicles, electric vehicles and Lincoln luxury vehicles worldwide. The company has about 14% market share in the United States and about a 7% share in Europe.
Activision develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party companies.
Photo courtesy of Palantir.
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