Benzinga Bulls and Bears: Palantir, Apple, Six Flags

Benzinga examined the prospects for many investors’ favorite stocks over the last week — here’s a look at some of our top stories.

U.S. stocks ended the week sharply lower as a sell-off in technology shares, rising Treasury yields and renewed inflation concerns rattled investors. The S&P 500 fell 1.9% for the week, while the Nasdaq Composite dropped 4.5%, marking its worst weekly performance since June. The Dow Jones Industrial Average bucked the trend, gaining 0.7%. Semiconductor stocks led the declines as investors questioned whether the massive spending on artificial intelligence infrastructure could deliver sufficient returns to justify high valuations and mounting financing costs.

AI-related stocks came under particular pressure as concerns about the financial health of CoreWeave Inc. (NASDAQ:CRWV) raised broader questions about debt-fueled data-center expansion. CoreWeave shares plunged as investors grew concerned about its roughly $50 billion in debt and the rising cost of insuring its bonds against default. The iShares Semiconductor ETF (NASDAQ:SOXX) recorded its ninth consecutive daily decline, its longest losing streak since 2006, falling about 9.4% for the week.

Inflation and interest rates remained central to the market outlook. September consumer prices rose 3.7% from a year earlier, while producer prices climbed 6.3%, intensifying concerns that inflation could remain elevated and complicate the Federal Reserve’s policy decisions. The 10-year Treasury yield stood near 5.09% Friday after touching 5.37% the previous week, adding pressure to growth-oriented stocks.

Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week’s most bullish and bearish posts that are worth another look.

The Bulls

Palantir Delivers Another Profitable Quarter, Touts New AI Platform, Shares Surge, by Adam Eckert, reports that Palantir Technologies Inc. (NYSE:PLTR) shares surged after the data analytics company beat earnings and revenue estimates and highlighted strong demand for its new Artificial Intelligence Platform (AIP). Revenue rose 18% year over year to $525 million, topping the $505.6 million analyst estimate, while earnings of 5 cents per share beat expectations of 4 cents. U.S. revenue increased 23%, commercial revenue grew 15% and government revenue climbed 20%. Palantir’s total customer count rose 41% year over year, while its U.S. customer base expanded 50%. CEO Alex Karp said Palantir expected to remain profitable in every quarter through the end of 2023.

Apple Stock Hits All-Time Highs — And There Could Be Good News About iPhone Duo, by Chris Katje, reports that Apple Inc. (NASDAQ:AAPL) shares reached a record intraday high of $348.15 on Oct. 13, even as concerns over iPhone 18 demand weighed on sentiment. A report from China’s Securities Times said Apple underestimated demand for its upcoming foldable iPhone Duo and was increasing supply-chain orders by 30%, potentially lifting initial production from an estimated 6 million to 7 million units to about 10 million. Preorders were scheduled to begin Oct. 16, offering a clearer indication of consumer interest in Apple’s first foldable smartphone. The news follows reports that Apple cut component orders for the iPhone 18 Pro and Pro Max by 15% to 20%, raising questions about demand and whether customers are waiting for newer models.

GameStop Stock Hits 52-Week High as Cohen Continues Buying Spree, by Adam Eckert, reports that GameStop Corp. (NYSE:GME) shares reached a new 52-week high as CEO Ryan Cohen continued buying shares on the open market. Cohen purchased 844,130 shares on Tuesday in two transactions, paying $26.75 for 67,130 shares and $27 per share for another 777,000 shares, bringing his total stake to approximately 42.49 million shares. The latest purchase marks his fifth reported acquisition in just over a month, following purchases of about 1 million shares on Sept. 10, 1.15 million on Sept. 21, 450,000 on Sept. 29 and 700,000 on Oct. 2.

For additional bullish calls of the past week, check out the following:

CoreWeave Stock Snaps Back as Nvidia CEO Signals Support

Navitas Semiconductor Stock Rises After Hours: Here’s Why

Why Is SoFi Stock Climbing on Thursday?

The Bears

Six Flags Stock Hits 7-Year Low After Roller Coaster Death: What It Means for Jana Partners, Travis Kelce, by Chris Katje, reports that Six Flags Entertainment Corp. (NYSE:FUN) shares plunged 16.5% to $9.96 on Oct. 13, reaching their lowest level since December 2009, after a 42-year-old man died in an incident involving the Goliath roller coaster at Six Flags Over Georgia. Authorities said the rider was ejected from the attraction, prompting an investigation and the temporary closure of similar rides at other parks. The fatal incident adds uncertainty to the company’s turnaround efforts and could complicate activist investor Jana Partners’ renewed push for a sale. Jana teamed up with NFL star Travis Kelce and other investors to acquire a roughly 9% stake in Six Flags and has pressed for leadership changes and strategic alternatives amid ongoing business challenges.

WF Holding Stock Plunges After $18 Million Offering With Heavy Dilution Risk, by Erica Kollmann, reports that WF Holding Limited (NASDAQ:WFF) shares plunged after the company announced an $18 million stock offering that could significantly dilute existing shareholders. The Malaysia-based manufacturer agreed to sell 12 million ordinary shares, or pre-funded warrants, to institutional investors for $1.50 each, alongside 12 million additional warrants. The warrants carry a $1.50 exercise price and include a zero-price exercise provision that could allow each warrant to convert into as many as nine shares without additional payment.

Skydance Stock Closes Down Nearly 24% Despite Warrant Clarification, by Erica Kollmann, reports that Skydance Corp. (NYSE:SKYD) shares fell 23.84% to $7.06 on Wednesday despite the company clarifying a technical price adjustment tied to its recent warrant distribution. Skydance distributed approximately 471 million warrants to eligible Class B shareholders following its Oct. 6 acquisition of Warner Bros. Discovery Inc., with each warrant allowing holders to purchase one share for $12. The New York Stock Exchange adjusted Skydance’s reference share price by about 19 cents, from roughly $9.27 to $9.07, based on the warrants’ $2.20 closing price and the proportion of outstanding shares eligible for the distribution.

For more bearish takes, be sure to see these posts:

Cerebras Stock Braces for 19.4 Million-Share Unlock After Record Low

Rocket Lab Stock Tanks After Neutron Launch Officially Pushed to 2027

SpaceX’s Rocket Launch Lit Up the East Coast. Did SPCX Stock Even Notice?

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Image created using artificial intelligence via Midjourney.