Cisco, Palantir among top stock movers by market cap

Shares of Cisco Systems Inc. and Palantir Technologies Inc. were among the largest gainers by market capitalization on Thursday, as the broader equity market showed mixed performance.

Cisco, a networking and cybersecurity giant, rose 2.1% in midday trading, extending gains from the previous session. The company’s stock has been supported by strong demand for its enterprise security and AI-driven solutions, analysts said.

Palantir, a data analytics firm specializing in AI-driven decision-making, surged 4.8% after reporting a smaller-than-expected quarterly loss. The company’s revenue growth accelerated to 24% year-over-year in its latest quarter, outpacing expectations. Investors also cited optimism around Palantir’s expanding government contracts and commercial AI deployments.

The gains came as the S&P 500 and Dow Jones Industrial Average traded modestly lower, while the Nasdaq Composite eked out a small gain. Broader market sentiment remained cautious amid ongoing concerns over interest rate policy and economic growth.

Cisco’s market capitalization increased by approximately $8 billion during the session, while Palantir’s rose by about $3 billion. Both stocks remained among the top contributors to the day’s market cap shifts.

Analysts at Truist Securities reiterated a buy rating on Cisco, citing its resilient business model and strong free cash flow. For Palantir, Wedbush maintained an outperform rating, highlighting its AI platform’s potential to drive long-term growth.