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S&P 500 Gains and Losses Today: Palantir Plummets On Lingering Defense Spending Fears

A banner outside the New York Stock Exchange on the day of Palantir's IPO in 2020.
A banner outside the New York Stock Exchange on the day of Palantir's IPO in 2020.

Michael Nagle / Bloomberg via Getty Images

Key Takeaways

  • The S&P 500 fell by 0.5% on Monday, Feb. 24, as investors weren’t able to rebound from last week’s selloff after reacting to the latest tariff announcement. 
  • Palantir Technologies shares fell again as worries that the defense contractor would suffer under proposed military budget cuts.
  • Walgreens Boots Alliance shares jumped on reports that private equity firm Sycamore Partners was securing funding for a buyout of the retail pharmacy firm.

Major U.S. equities indexes were mixed to start the week as investors failed to mount a rebound from last week’s selloff. Tech stocks helped lead the decline, which moved lower after President Donald Trump's comments this afternoon confirmed tariffs on Canada and Mexico.

The S&P 500 fell by 0.5% in a trading session that saw the benchmark index mount a comeback after an early decline but gave back those gains to notch its 澳洲幸运5官方开奖结果体彩网:third straight losing session. The tech-focused Nasdaq fell 1.2%, while the 澳洲幸运5官方开奖结果体彩网:Dow Jones Industrial Average was marginally higher. 

Palantir Technologies (PLTR) was the worst performer in the S&P 500, falling 10.5% as the defense contractor’s stock 澳洲幸运5官方开奖结果体彩网:continued to move lower on worries that spending cuts could impact the company. After reports last week that the Trump administration could make 澳洲幸运5官方开奖结果体彩网:significant cuts to the U.S. defense budget, Pala🌳ntir’s stock fell back from a record high to shed nearly 25% of its value.

Super Micro Computer (SMCI) dropped 8% ahead of its deadline tomorrow to issue delayed 2024 financial reports required by Nasdaq. A further delay in filing the reports could result in a 澳洲幸运5官方开奖结果体彩网:delisting from the exchange. Supermicro 澳洲幸运5官方开奖结果体彩网:shares jumped last week after it laid out guidance for s🉐ignificant revenue growth in 2026. 

Nuclear power companies fell on the news that Microsoft would potentially cancel leases for several data centers. Nuclear power is cited as a likely power source to help meet the increased electricity demand created by data centers used to provide AI services. Constellation Energy (CEG) fell 5.9%, with Vistra (VST) declining 5.1% and GE Vernova (GEV) dipping 3.7%. 

Walgreens Boots Alliance (WBA) shares jumped by 6.3% to lead S&P 500 gainers, coming after reports that 澳洲幸运5官方开奖结果体彩网:private equity firm Sycamore Partners was working to 澳洲幸运5官方开奖结果体彩网:secure financing for a buyout of the retail pharmacy chain. Walgreens’ stock surged last week after reports that a 澳洲幸运5官方开奖结果体彩网:deal for the s𝐆truggling retail firm was back on the table after it was tho💟ught to be dead.

Nike (NKE) 澳洲幸运5官方开奖结果体彩网:shares jumped by 4.9% after 澳洲幸运5官方开奖结果体彩网:Jefferies upgraded the stock and raised the price target on optimism for a recovery of the footwear maker’s 澳洲幸运5官方开奖结果体彩网:profit margin and 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS). Analysts said the stock was poised to 澳洲幸运5官方开奖结果体彩网:jump as much as 40%, wit❀h its downside risk limited to around 8% over the next tw💛o years.

Berkshire Hathaway (BRK.A; BRK.B) shares were up by 4.1% after the Warren Buffett-led conglomerate reported a 70% increase in 澳洲幸运5官方开奖结果体彩网:fourth-quarter operating earnings, while its full-year operating earn💜ings for 2024 were 27% higher than the pri⛦or year.

Pharmaceutical service provider Charles River Laboratories (CRL)  jumped by 4.6% on reports that 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) James Foster purchased $1 million 🤪worth of sha𓆏res in the company.

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