Options Market Statistics: Palantir Options Pop and Shares Continue to Rise Following Strong Quarterly Results

Tesla Inc (NASDAQ:TSLA) has reduced prices for its costliest Model Y version in Canada, following recent price cuts for two of its lower-priced variants.

The Model Y Performance is now priced at C$69,990 ($51,911.23), a 5.8% decrease from the previous starting price of C$74,290 ($55,100). Earlier this month, Tesla reduced prices for both the Model Y rear-wheel drive and long-range variants by C$4000 ($2,966). The rear-wheel drive version now starts at C$53,990 ($40,044), while the long-range version starts at C$63,990 ($47,463).

These latest price cuts mean that the Model Y now has the same starting price in Canada as the Model 3 sedan, which was previously Tesla's cheapest offering. Tesla's Model Y SUV became the world's best-selling vehicle model in 2023, with over 1.2 million deliveries, marking the first time an EV has achieved this milestone.

Shares of Palantir Technologies Inc are continuing to rise on Wednesday, following a more than 30% rally on Tuesday. The company's stock appears to be gaining momentum after it reported better-than-expected quarterly results, with strong demand for its AI platforms. Palantir's Q4 revenue rose by 20% YoY to $608 million, beating the consensus estimate of $602.41 million.

CEO Alex Karp attributed the company's success to "the strength of our software and the surging demand that we are seeing across industries and sectors for artificial intelligence platforms." Palantir's commercial revenue grew 32% YoY in the fourth quarter, driven by a 70% YoY increase in U.S. commercial revenue.

The company also provided guidance for continued revenue growth and anticipates GAAP net income in each quarter of 2024. Several analysts have released positive updates on the stock, with Jefferies and Citigroup upgrading Palantir and Raymond James, Wedbush, and Mizuho raising price targets on the stock, ranging from $18 to $30 per share.

Microsoft Corp (NASDAQ:MSFT) is in negotiations with the Cloud Infrastructure Services Providers in Europe (CISPE) to address a complaint filed with the European Union (EU) regarding the tech giant's cloud computing licensing practices. The move is aimed at preventing a possible in-depth EU investigation that could result in fines and a mandate for Microsoft to alter its business operations.

The complaint was lodged by CISPE, which comprises Amazon Inc (NASDAQ:AMZN) and 26 smaller cloud providers across the EU, who claim that Microsoft's contractual terms have had a detrimental impact on the European cloud computing environment. The dispute arose from Microsoft's licensing adjustments made in mid-2022, following complaints from competitors in Germany, Italy, Denmark, and France to the EU's competition authority.