Palantir Technologies (PLTR) - Palantir reported Q3 results with a revenue increase of 63% year-over-year, reaching $1.18 billion, driven by a 77% surge in U.S. revenue, including 121% growth in U.S. commercial and 52% growth in U.S. government segments [3][4] - The company closed 204 deals worth over $1 million, totaling $2.76 billion in contract value, and saw a 45% year-over-year increase in customer count [4] - Palantir raised its Q4 revenue guidance and lifted its full-year revenue outlook, along with higher forecasts for operating profit and free cash flow [4] Denny's (DENN) - Denny's will be taken private in a deal valued at approximately $620 million, including debt, with shareholders receiving $6.25 per share, representing a 52% premium to the closing stock price [5] - The acquisition is led by TriArtisan Capital Advisors, Treville Capital, and Yadav Enterprises, one of Denny's largest franchisees [5] Starbucks (SBUX) - Starbucks has agreed to sell a majority stake in its China business to Boyu Capital for an enterprise value of $4 billion, with Boyu expected to hold up to a 60% stake [6] - Starbucks anticipates that the total value of its China retail business will exceed $13 billion [6]

Market Overview - The S&P 500 ended a six-day winning streak, closing down 0.3%, with all major indices declining; the Nasdaq Composite fell 0.4%, small caps dropped 0.6%, and the Dow Jones Industrial Average lost 0.5% [2] - The JOLTS report indicated job openings at 7.437 million, slightly below the expected 7.51 million, suggesting a weaker labor market [3] Earnings Reports - Starbucks reported a miss on same-store sales in the U.S. but achieved its first sales gains in China since 2023, resulting in a 3% increase in after-hours trading [4] - Visa's earnings report showed a miss on income but a beat on revenues; the stock fell over 2.5% in after-hours trading, but consumer spending remains resilient, which is a positive sign for the economy [4] Economic Indicators - The forecast for 2Q GDP growth is 2.4%, a significant improvement from the earlier forecast of -0.5% [5] - The Federal Reserve is expected to keep interest rates unchanged, with a 97% probability according to the CME Fed Watch Tool; a potential rate cut could occur in September with a 65% chance [5] Upcoming Earnings - Major companies including Meta Platforms, Microsoft, Qualcomm, and Robinhood are set to report earnings, with a focus on Meta and Microsoft [6] - Microsoft has made significant investments in AI and is expected to show growth in its cloud computing business, following Alphabet's strong performance in these areas [6][7] - Meta has invested over $14 billion in AI and is focusing on advertising revenue and progress in smart glasses, having partnered with Ray-Ban and Oakley [7][8] Upcoming Economic Data - The Personal Consumption Expenditures (PCE) Index, the Fed's preferred inflation measure, will be released soon, followed by earnings reports from Amazon and Apple, and the July employment report [9]