May 06, 2024 (MENAFN via COMTEX) --
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Watch Palantir, Axon, and Coherent Today
The quarterly earnings calendar today includes four widely watched firms.
Palantir (PLTR), which sells intelligence software to the military, hospitals, and the government, will post results tonight after the market closes. Investors will focus on its commercial division growth. Shareholders are keen to get an update about its partnership with Oracle (ORCL) for delivering cloud and AI solutions to customers.
Investors who missed out on the PLTR stock rally likely parked their money into cash. They will prepare to buy more PLTR stock if the stock pulls back after the earnings report. Expectations are high that the firm will continue growing over the long term.
Axon Enterprise (AXON), which closed at a bearish"multiple top" pattern at $318.55, will likely exceed market expectations. The firm sells devices and apps that protect people's lives. This includes Taser smart weapons and police body cameras.
Coherent (COHR), which supplies materials, networking, and lasers mostly in the scientific and medical sectors, will update investors on its developments in commercializing ultrawide-bandgap semiconductors.
Investors interested in Coherent's market may watch Ciena (CIEN), which posted earnings of 66 cents a share (non-GAAP) last month. Watch Wolfspeed (WOLF) as well but avoid the stock. The firm issued a weak revenue outlook. T.D. Cowen downgraded WOLF stock to a"Hold" and lowered its price target by $15 to $25.
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