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Palantir (PLTR) projects 31% revenue growth for 2025 amid accelerating AI adoption. (00:26) Tit-for-Tat: China hits back with tariffs on U.S. coal and LNG, unveils Google probe. (01:40) Intuit (INTU) in focus after Elon Musk says IRS Direct File program ended. (03:10)
This is an abridged transcript.
Palantir Technologies (NASDAQ:PLTR) is up 18% in premarket action after its fourth quarter 2024 results and outlook blasted past expectations, as segment revenue surged across the board.
Fourth quarter adjusted earnings per share of $0.14 surpassed the consensus estimate of $0.11. Revenue for the quarter ended December 31 totaled $827.52M, an increase of 36% year over year and nearly $50M more than expectations.
For the quarter in progress, Palantir projects revenue ranging from $858M to $862M, which is much more than the estimate of $802.9M. The artificial intelligence and analytics company expects full-year 2025 revenue ranging from $3.74B to $3.76B, which is more than the estimate of $3.54B.
Of course, you can always find the transcript from Palantir’s earnings call on Seeking Alpha but I’m including a link to a new feature, our AI generated earnings call insight article. The link is in show notes.
Monday on Wall Street Breakfast we walked you through the tariffs that were set to start against China, Canada and Mexico. Then on Wall Street Lunch with Kim Khan we told you that tariffs on Mexico had been delayed.
So let’s pick up from there with what happened later in the day on Monday.
Canadian Prime Minister Justin Trudeau said in a statement on Monday that the U.S. will pause its plan to impose tariffs on Canada, outlining an agreement to bolster border supervision.
President Trump confirmed the plan saying that tariffs “will be paused for a 30 day period to see whether or not a final Economic deal with Canada can be structured.”
Trudeau’s statement said that, “Canada is making new commitments,” to its $1.3B border plan including appointing a fentanyl czar, and launching with the U.S. a joint strike force on organized crime, fentanyl trafficking and money laundering.
Meanwhile, China is retaliating with a levy of tariffs on imports of multiple U.S. products, including LNG, coal, and more. The government said it would implement a 15% tariff on coal and liquefied natural gas products, as well as a 10% tariff on crude oil, agricultural machinery, and large-displacement cars.
China’s countermoves will take effect on February 10.
Intuit (NASDAQ:INTU) is taking the spotlight after Elon Musk said the Internal Revenue Service’s Digital File system has ended.
He wrote in a post on his social media platform X that 18F, a government tech office that helped develop IRS Direct File, “has been deleted.”
According to the Department of Treasury website Direct File is an IRS service that allows eligible taxpayers to prepare and file their tax return online, for free, including access to help from dedicated IRS Direct File customer support representatives.
Analysts say this program puts companies like Intuit (NASDAQ:INTU), the owner of the tax preparation tool TurboTax, at a competitive disadvantage.
Mizuho Securities analyst Siti Panigrahi wrote in a note to clients that the tax program “has been part of INTU’s bear thesis.”
It is important to note that Direct File is still available.
What’s Trending on Seeking Alpha:
Delta Air Lines partners with DraftKings on in-flight gaming entertainment
PayPal Q4 earnings expected to dip, revenue seen ascending
Trump wants Ukraine’s rare earth minerals in return for U.S. support
Catalyst watch:
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IBM (IBM) will hold its Investor Day event. The company is expected to share its new mid-term targets. HashiCorp (HCP) will be looking for an update on the planned sales to IBM.
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Redcloud (RCT) will begin trading after pricing its IPO. The consumer goods platform operator plans to raise $55 million at a $352 million market cap.
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PepsiCo (PEP) will hold its earnings call. The management could be of interest to Celsius Holdings (CELH) due to the supplier relationship, as well as McCormick (MKC), which trades directionally with PepsiCo after earnings more than 85% of the time.
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Shareholders with Sandy Spring Bancorp (SASR) will vote on the pending merger with Atlantic Union Bankshares Corporation (AUB).
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BetMGM (MGM) (OTCPK:GMVHF) will hold a business update call.
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Texas Instruments (TXN) will hold a capital management call.
Now let’s take a look at the markets ahead of the opening bell. Dow, S&P and Nasdaq futures are in mixed territory. Crude oil is down 1.9% at $71/barrel. Bitcoin is up 4.3% at $99,000.
In the world markets, the FTSE 100 is down 0.1% and the DAX is flat.
The biggest movers for the day premarket: Synaptics (NASDAQ:SYNA) shares declined 6% following the announcement that Michael Hurlston is stepping down as President and CEO, effective immediately, to join Lumentum Holdings (LITE) as CEO.
On today’s economic calendar:
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11:00 am Atlanta Federal Reserve Bank President Raphael Bostic speaks on housing in a moderated conversation before a National Housing Crisis Task Force Meeting.
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2:00 pm San Francisco Federal Reserve Bank President Mary Daly participates in a hybrid discussion, “The Economy 2025: the Impacts of Tariffs, Tax Cuts and Trump” before the Commonwealth Club World Affairs of California.
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7:30 pm Federal Reserve Vice Chair Philip Jefferson speaks on the U.S. economic outlook and monetary policy before the Lafayette College Economics Department Special Lecture.
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Federal Reserve Bank of Chicago will host the 31st Annual Automotive Insights Symposium.
