NEW YORK, NY – OCTOBER 22: Jim Cramer of CNBC speaks during the Martha Stewart American Made Summit at Martha Stewart Living Omnimedia Headquarters on October 22, 2016 in New York City. (Photo by John Lamparski/Getty Images)
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My top 10 things to watch Tuesday, Feb. 3
1. The S&P 500 was headed for a higher open this morning, boosted by post-earnings gains in Palantir stock and sharp bounces in gold and silver. This follows yesterday’s strong start to February on Wall Street.
2. Palantir shares jumped more than 11% following a fourth-quarter report that beat earnings estimates on rising spending in AI data tools from businesses and government agencies. This is the fastest-growing, most lucrative software and consulting company. High margins and high growth. Will it be considered the same way Club name Salesforce and ServiceNow will be? Both of those stocks have been dogs on concerns of AI-driven disruption risks. But I think Palantir is such a money saver that it will not be similarly described.
3. Shares of Teradyne surged more than 20% after the maker of tests for semiconductors and robotics reported better-than-expected results in the fourth quarter. Management’s fiscal 2026 Q1 guidance far exceeded estimates. Demand remains incredibly strong.
4. Sandisk stock rose another 4% after closing at a record high for four straight sessions. The AI infrastructure trade has sent shares of the data storage company up more than 180% year to date. JPMorgan suspended its rating on Sandisk for policy reasons because of restrictions.
5. Club holding Eaton shares dropped more than 4% on a mixed fourth quarter. The power management company, whose products are used in AI data centers, beat on earnings-per-share but missed on revenue. The Q1 and full-year 2026 guides at the midpoints for EPS were short of estimates.
6. Elon Musk’s SpaceX will acquire his artificial intelligence startup xAI in a record-setting deal that unifies his rocket company with the Grok chatbot maker. The transaction reportedly values SpaceX at $1 trillion, and xAI at $250 billion, according to Reuters. The acquisition marks the largest M&A deal of all time.
7. PayPal CEO Alex Chriss will be replaced by HP CEO Enrique Lores, the payments company announced after its profit and revenue fell short of expectations this morning. Jamie Miller, the chief financial officer of PayPal, will step in as interim CEO until Lores takes over next month. Shares of PayPal dropped 15%.
8. Disney announced this morning that Josh D’Amaro, chairman of Disney Experiences, will succeed Bob Iger as CEO effective March 18. It’s the second time in six years that the entertainment giant has named a successor to Iger. We previously owned Disney, but exited in November following a subpar quarter.
9. Club holding Alphabet‘s price target was taken up to $400 from $365 at Mizuho. Analysts, who kept their buy rating, are constructive on fundamentals in large-cap advertisers, forecasting that the market will accelerate in 2026. Additionally, Waymo, the autonomous driving business from Alphabet, announced a $16 billion raise at a $126 billion valuation yesterday. Even more than reports. Alphabet will contribute $13 billion to the financing round. The Google parent will release earnings tomorrow evening.
10. Mizuho raised its price target on GE Vernova to $714 from $660, and maintained a hold rating on shares. Analysts pointed to the firm’s service growth and gas turbine capacity expansion. The Club stock was up 1%.
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