on a Big Army Contract Win
www.barrons.com/articles/...ck-army-51633472305?siteid=yhoof2
Palantir Technologies stock is trading sharply higher after the software company said it won the vast majority of an $823 million program to provide data and analytics software to the Army.
In February 2020, Palantir (ticker: PLTR) and BAE Systems (BAESY) had been named as finalists for orders under the program. Six companies had originally submitted proposals. In June 2020, BAE announced that it had received an initial order under the program, sometimes referred to as Capability Drop 2, but Palantir apparently won the bake-off between the two companies, and will be the sole provider going forward.
The program, which covers seven years from the date of announcement in 2020, is managed by the Army’s Program for Intelligence Systems & Analytics.
Palantir said it will deploy its Gotham software platform “to support Army Intelligence users worldwide with a globally federated intelligence data fabric and analytics platform spanning multiple security classifications.” The company said the program will provide “modern data integration, correlation, fusion, and analytic capabilities that prepare the Army for the next fight against emerging near peer threats.”
In late trading Tuesday, Palantir stock is up 13.4% to $26.32.
Ok…;-)