By Emily Dattilo
With the holiday season quickly approaching, a software company has found itself top of the good list in November.
Palantir Technologies has been the best performer in the S&P 500 this month, while chemical materials company Celanese has fared the worst through Wednesday's close of trading, according to Dow Jones Market Data.
Palantir has gained 49% this month, putting the stock on track for its best monthly performance since February. On Nov. 5, the stock soared 23% after the company posted better-than-expected third-quarter earnings and increased guidance for the year.
Shares have gained a stunning 262% this year, putting them on pace for their best year on record amid excitement about the company's artificial-intelligence capabilities and its entry into the S&P 500 in September.
Last week, the company said that it will transfer its stock to the Nasdaq Global Select Market, switching from the New York Stock Exchange on Nov. 26.
Celanese hasn't fared quite so well -- shares have declined 42% in November and were on pace for their worst monthly performance since 2008. They've fallen 53% in 2024, which would be their worst year since 2008.
The stock plunged 26% on Nov. 5 after the company reported quarterly earnings that fell short of analysts' expectations and slashed its dividend. "In the third quarter, we faced a severely constrained demand environment that, in some cases like auto, degraded swiftly," CEO Lori Ryerkerk said at the time.
Write to Emily Dattilo at emily.dattilo@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
November 21, 2024 10:27 ET (15:27 GMT)
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