THE BIZNEWS PREMIUM PODCAST: Premium Briefing Ep 3 – In this week’s episode of the premium briefing, Alec Hogg takes a close look at the ‘UK Chaos’ and how it has hit Reinet; and by looking back at the third quarter as a whole makes an argument for the unjustified share price plunges on Murray & Roberts and Merafe; and lastly, we hear the best snippets from the Top 3 podcasts on BizNews Radio.
In the past month, Nasdaq is down 10%. During those four weeks one of my favourite stocks in the BizNews model portfolios, Palantir Technologies, is up 5%. That comes after being hit 15% after its quarterlies to end June which analysts hated because its revenue growth (+27%) missed the forecast (+30%).
___STEADY_PAYWALL___It’s worth remembering Palantir listed in October 2020 after an IPO at $10, peaked at $35 three months later, and has pretty much tracked Nasdaq’s slide since then. Except in the past week. When you see a stock rising in a falling market, it requires further investigation. More so if you own the shares. So, what’s the story here?
On Thursday, the company announced it had been awarded a $229m deal (over a year) by the US Department of Defence. A few things are notable about this. It’s a significant deal given Palantir reported total revenues of $473m in the June quarter. This came on another win earlier in the month – $96m from US Homeland Security. More Government business should follow: Google walked away from the DOD contract after employees objected.
For longer-term investors, the important point is how Palantir is living up to its promise of being a good investment in dangerous times. The DOD contract is to develop and deliver artificial intelligence and machine learning capabilities to US armed forces. After Russia’s invasion and Chinese threats over Taiwan, beefing up American military has become a national priority. Too late, though, for those cow-towing to woke techies in Silicon Valley.
More for you to read today:
- Journeys in a looted land. William Saunderson-Meyer writes on the plundering of the National Lotteries Commission.
- South Africa Plans to Reduce Power Cuts After Diesel Ship Berths
- Tencent Loses Crown in World’s Biggest Stock Wipeout
- In Brazilian Presidential Election Leftist Former President Lula da Silva Wins First Round. The result means current president Jair Bolsonaro and Mr. da Silva, who served two terms but was jailed on a corruption charge, will face each other in an Oct. 30 runoff.
Coming off the back of his speech at BNC#4. Chris Pappas answers questions regarding his hopes to end the disenchantment of the youth and the voters in general, the difficulties posed by the ANC and predictions for 2024.
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