Palantir (PLTR)

Shares in data-analytics company Palantir have more than doubled so far this year, and Bank of America (BofA) believes the stock will head even higher, Fortune reported.

BofA has maintained a buy rating on Palantir and raised its price target on the stock to $50 from $30, according to a note released last week. Pre-market open on Monday, Palantir was trading at over $35 per share.

BofA analysts reportedly said the bank believed Palantir's "capabilities, technology and path forward" were facing a misunderstanding on Wall Street.

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“The upcoming S&P 500 inclusion provides a watershed moment for institutional investors to revisit what they ‘know’ about PLTR," they said.

Palantir shares jumped earlier this month following the news that it, along with server-maker Dell (DELL) and insurer Erie Indemnity (ERIE) are set to join the S&P 500 (^GSPC) before market open on 23 September.

Playtech (PTEC.L)

Gambling software company Playtech has said it expects adjusted profits for 2024 to be slightly ahead of market expectations, mainly driven by strong performance in its business-to-business (B2B) division.

Playtech shares jumped nearly 8% on Monday on the back of the company's trading update.

The company said its B2B division had performed well in the first half of the year, "driven by a combination of revenue growth in the Americas and a focus on tighter cost control".

Playtech also announced that it had reached an agreement with Mexican sports betting company Caliente, to hold a 30.8% stake in Caliente Interactive, which will be the new holding company for their joint venture Caliplay.

The deal follows a legal dispute in which Caliplay stopped paying software and service fees to Playtech. However, Playtech said Caliplay had resumed paying the fees, with it having received more than €150m (￡127m), or over 80%, of the unpaid amount.

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In the business-to-consumer side of the company, Playtech said it was in discussions with Flutter (FLTR.L) around the potential sale of its Italian division Snaitech.

Russ Mould, investment director at AJ Bell, said: "You can see why gambling software firm Playtech is considering getting shot of its consumer facing Snaitech business, based on today’s trading update.

"The business-to-business arm is the one driving earnings to be slightly above expectations for 2024 — supported by good growth across the Atlantic and tight cost control."