Palantir Technologies Wins US Army Contract, Shares Up 9%

(RTTNews) - Shares of nano-cap company Palantir Technologies Inc. (PLTR) jumped nearly 9% in extended trading session on Tuesday after the software company announced it was selected by the U.S. Army's Program Manager for Intelligence Systems and Analytics to deliver the Army's Intelligence data fabric and analytics foundation for the Capability Drop 2 (CD-2) program.

Palantir said it will deploy the Palantir Gotham Platform to support Army Intelligence users worldwide with a globally federated Intelligence data fabric and analytics platform spanning multiple security classifications.

"We look forward to the continued partnership with PEO IEW&S and the Army's Intelligence Community in providing new and exciting technology that help them in their modernization efforts," said Doug Philippone, Palantir's Global Defense Lead.

PLTR closed Tuesday's trading at $23.21, up $0.04 or 0.17%, on the Nasdaq. The stock further gained $2.01 or 8.66% in the after-hours trade.