adminListen below or on the go via Apple Podcasts and Spotify
Palantir (PLTR) stock tumbles despite Q3 beat as analysts mull valuation. (00:22) Denny’s (DENN) to be taken private in a $620 million deal. (01:22) Starbucks (SBUX) offloads majority stake in China business to Boyu Capital for $4 billion. (02:03)
This is an abridged transcript.
Palantir, named after the ‘seeing stones’ of Middle-earth, is peering into a stronger future — even as the stock takes a hit this morning.
Palantir posted strong Q3 results and raised full-year guidance but is down more than 7% in premarket action.
Revenue jumped 63% Y/Y to $1.18B.
This was driven by a 77% surge in U.S. revenue, including 121% growth in U.S. commercial and 52% growth in U.S. government segments.
The company closed 204 deals worth $1M+, totaling $2.76B in contract value, while customer count rose 45% Y/Y.
Palantir guided Q4 revenue above expectations and lifted its full-year revenue outlook, with higher operating profit and free cash flow forecasts.
I’ll leave you a link to the transcript from the earnings call in the show notes section.
Denny’s (DENN) will be acquired and taken private in a deal that values the company at ~$620 million, including debt.
Denny’s (DENN) will be purchased by private equity investment company TriArtisan Capital Advisors (owner of TGI Fridays and P.F. Chang’s), investment firm Treville Capital, and Yadav Enterprises, which is one of Denny’s largest franchisees.
Under the agreement, Denny’s shareholders will receive $6.25 per share in cash, or a total of $322 million. This represents a 52% premium to Denny’s closing stock price Monday.
Denny’s is up 48% to $6.09 in premarket trading.
Starbucks (SBUX) has agreed to sell a majority stake in its China business to private equity firm Boyu Capital at a $4 billion enterprise value, it said in a filing on Monday.
Boyu Capital will operate the retail business in China. Under the terms of the deal, Boyu will hold up to a 60% stake in the venture, with Starbucks retaining the remainder.
Starbucks expects the total value of its China retail business to exceed $13 billion.
What’s Trending on Seeking Alpha:
Trump administration to pay half of SNAP benefits for November
Hims & Hers projects over $6.5B revenue by 2030 as global expansion and diagnostics strategy accelerates
China offers tech giants cheap power to boost domestic AI chips, FT reports
Dow, S&P and Nasdaq futures are in the red. Crude oil is down 1.6% at $60/barrel. Bitcoin is down 2.6% at $103,000. Gold is down 0.3% at $3,992.
The FTSE 100 is down 1.1% and the DAX is down 1.7%.
The biggest movers for the day premarket: HIVE Digital Technologies (HIVE) -6% – Crypto-related stocks dropped sharply after Bitcoin slid as much as 2.7%, falling to $103,744, its lowest level in over two weeks. This decline follows a major liquidation event three weeks ago that erased billions in leveraged crypto positions, contributing to ongoing market volatility and investor caution in the digital asset space. Notable U.S. crypto-related names including Riot Platforms (RIOT), MARA Holdings (MARA), Strategy (MSTR), Coinbase Global (COIN), Bitfarms Ltd. (BITF), and Robinhood Markets (HOOD) all saw declines in their stock prices between 3% and 5%.
Read the full article here
