Home / Business and Economy / Palantir's Losing Streak Extends as Stocks See Mixed Midday Trading
Palantir's Losing Streak Extends as Stocks See Mixed Midday Trading
20 Aug
Summary
- Palantir Technologies heads for 6th consecutive losing day
- Medtronic lifts guidance, Avis Budget downgraded by Bank of America
- Target CEO change, Estée Lauder warns of tariff impact
As of August 20th, 2025, the stock market is seeing a mix of gains and losses in midday trading. Palantir Technologies, the defense technology company, is headed for its sixth consecutive losing day, dropping more than 2%. This marks the company's first six-day losing run since April 2024, despite its shares more than doubling in 2025.
In contrast, Medtronic, the medical device company, saw its shares pop 4% after providing better-than-expected guidance for the 2026 fiscal year. The company lowered its tariff impact forecast and lifted its non-GAAP earnings guidance for the year.
Elsewhere, Avis Budget, the car rental company, slipped 5% after Bank of America downgraded it to "underperform" from "buy," citing concerns about the company's fundamentals and the macroeconomic environment.
The retail sector also saw some notable moves, with Target sinking 7% after announcing the replacement of its CEO, Brian Cornell, by Chief Operating Officer Michael Fiddelke, effective February 1st. The big-box retailer also reported a second-quarter earnings and revenue beat, although its sales and traffic declined.
Additionally, Estée Lauder, the beauty company, tumbled nearly 5% after warning that tariff-related headwinds are expected to affect its profitability for the fiscal 2026 year by about $100 million. The company also provided guidance for fiscal 2026 adjusted earnings per share and revenue growth that fell short of analyst expectations.
