Palantir Technologies’ shares were down nearly 5% in Friday’s midday trade after an internal army memo reportedly flagged “fundamental security” problems in a U.S. Army communications system that the company is working on.
U.S. equities gained in Friday’s midday trade, driven by optimism in the artificial intelligence sector even as the United States government entered its third day of shutdown. The Dow Jones Industrial Average surged past 47,000 for the first time, while the S&P 500 index also touched a new record high.
The SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, was up 0.45% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq, rose 0.08%. The SPDR Dow Jones Industrial Average ETF Trust (DIA), which tracks the Dow Jones Industrial Average, soared 1.08%.
Here are the top stocks making the biggest moves in Friday’s midday trade:
Palantir Technologies Inc. (PLTR)
Palantir Technologies’ shares were down nearly 5% in Friday’s midday trade after an internal army memo reportedly flagged “fundamental security” problems and vulnerabilities in the modernization work of the U.S. Army’s battlefield communications network being undertaken by the company and others like Anduril.
PLTR stock is up 135% year-to-date.
Plug Power Inc. (PLUG)
Plug Power shares continued to surge on Friday, rising more than 33% in midday trade. Earlier on Friday, analysts at H.C. Wainwright raised their price target for the Plug Power stock to $7 from $3, while maintaining a ‘Buy’ rating, according to TheFly. The firm cited “significant” increases in electricity prices and growing support and demand for nuclear power as the reasons for its price target hike.
PLUG stock is up 77% year-to-date.
Rumble Inc. (RUM)
Rumble shares surged over 16% in Friday’s midday trade after the company announced a partnership with AI startup Perplexity, late on Thursday. The company stated that this partnership aims to enhance video discovery on the platform by utilizing Perplexity’s AI tools.
RUM stock is down 34% year-to-date.
USA Rare Earth Inc. (USAR)
USA Rare Earth shares were up more than 18% in Friday’s midday session after its CEO, Barbara Humpton, told CNBC that the company is in “close communication” with the White House. Humpton’s comments came on late Thursday, during aftermarket hours.
USAR stock is up 133% year-to-date.
Unusual Machines Inc. (UMAC)
Unusual Machines’ shares were trading higher by 9% in Friday’s midday session after the company announced that it had secured a $800,000 contract from drone technology company, Red Cat Holdings Inc. (RCAT). The contract includes delivery of multiple advanced components that will be integrated into Red Cat’s FANG drone platform, a system designed for military and government use.
UMAC stock is down 3% year-to-date.
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