On this episode of Stock Movers:
- Palantir Technologies (PLTR) shares fall, taking a breather after rallying more than 170% this year. The data-analysis software company raised its full-year forecast and reported third-quarter results that beat expectations. While analysts are broadly positive on the report, they flag concerns over the stock’s premium valuation.
- Novo Nordisk (NVO) confirms it has submitted an updated proposal to buy Metsera and says it believes the bid “complies with all applicable laws.”
- Spotify Technology (SPOT) reported active users and revenue in the third quarter that surpassed analysts’ expectations, easing concerns about co-founder and Chief Executive Officer Daniel Ek stepping down at the end of the year. Monthly active users climbed 11% from a year earlier to 713 million, exceeding analysts’ estimates of 710.6 million. The Stockholm-based company said revenue gained 7% to €4.27 billion ($4.9 billion), also beating expectations. Premium subscribers were roughly in line with projections.