Palantir (NYSE:PLTR) stock is a hot topic among traders on Wednesday after the big data company signed a new deal with Babcock International.
According to the company, it has reached an Enterprise Agreement with Babcock that covers its data. This will allow Palantir’s AIP to provide data-driven solutions to the aerospace company.
One example of how PLTR can assist Babcock is with its real-time identification of issues. The deep data provided by Palatir includes deep engineering expertise to monitor military equipment through its lifecycle.
Guy Williams, Head of U.K. Defence & National Security at Palantir Technologies, said the following about the agreement:
“We’re excited to partner with Babcock as they realise their digital defence ambitions. Together, we are driving toward a new era for the UK’s Defence enterprise – one that is pioneering, modern and leverages Palantir AIP. Our partnership with Babcock will help ensure the MOD maximise operational output at pace, whilst empowering Babcock’s talented workforce to become truly digitally enabled.”
PLTR Stock Movement Today
With today’s announcement comes some 14 million shares of PLTR stock changing hands. For the record, that is still well below the company’s daily average trading volume of about 66 million shares.
PLTR stock is up 1.1% as of Wednesday morning and is up 146.7% since the start of the year.
Investors who are looking for more of the most recent stock market news today are in the right place!
We have all of the latest stock market coverage that traders will want to read about on Wednesday! A few examples of that include why airline stocks are falling today, what’s going on with shares of T2 Biosystems (NASDAQ:TTOO) stock, as well as the news dragging Chinese electric vehicle (EV) stocks lower today. All of that news is ready to go at the links below!
More Wednesday Stock Market News
- Why Are Airline Stocks Down Today?
- TTOO Stock Alert: T2 Reschedules Annual Meeting to Sept. 15
- Why Are Chinese EV Stocks NIO, XPEV, LI Down Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
