Shares of Palantir Technologies fell again Friday, extending a rocky stretch for the data-analytics and defense-software company even as its underlying business continues to post some of the fastest growth among large software firms.

The stock traded around $126.74 in Friday morning trading, down 1.78% on the session, according to market data. The decline builds on a sharper drop a day earlier, when Palantir shares fell roughly 4% amid a broader pullback across richly valued technology names. That Thursday decline came as concerns over the collapse of a U.S.-Iran truce weighed on risk sentiment, pushing major U.S. indexes lower, with investors also rotating away from high-valuation software companies. Other software companies moved lower alongside Palantir that day, including Salesforce, Oracle and ServiceNow.

Despite the slide, analysts tracking the stock have generally attributed the pressure to broader market dynamics rather than problems specific to Palantir’s business. The pullback appeared driven by macroeconomic and valuation concerns rather than company-specific news, with investor sentiment remaining tied to changing risk appetite across the technology sector.

Palantir has been one of the most volatile large-cap technology stocks this year. Shares are trading about 36% below their all-time high of $207.52, a level reached late last year, and the stock fell as low as roughly $106 in late June before rebounding nearly 23%. Even after that bounce, the shares remain well off their highs, and closed at $129.04 on Thursday before ticking higher in premarket trading Friday.

Several factors have been cited for the stock’s recent weakness. A report from TradingKey attributed Thursday’s decline in part to sector-wide software sell-offs and institutional profit-taking, along with high valuation multiples that have made the stock more sensitive to broader market volatility. The same report noted that recent insider share sales, including a disclosed sale by Chief Technology Officer Shyam Sankar of Class A shares valued at roughly $24 million, had added to short-term selling pressure.

Competitive concerns have also crept into the stock’s narrative. Investor Michael Burry, known for correctly forecasting the 2008 housing crash, has argued that rival artificial intelligence developer Anthropic is encroaching on Palantir’s business. Burry has said Anthropic is “eating Palantir’s lunch” and has placed a large bet against Palantir’s stock, according to Benzinga. Other analysts have pushed back on that framing. Wedbush analyst Dan Ives has criticized what he called a “fictional narrative” that Anthropic threatens Palantir, defending the company’s position in the enterprise AI market.

Political scrutiny has also factored into recent trading. The company has faced political backlash and fears of a congressional subpoena tied to its expanding government contracting business, with federal contract revenue reaching nearly $2.2 billion in the 12 months after President Donald Trump returned to office, up 65% from the prior year, while commercial revenue more than doubled.

Analysts remain split on where the stock goes from here. Writing for Traders Union, analyst Anton Kharitonov pointed to sector-wide selling, profit-taking and high valuations as drivers of the recent decline, noting persistent technical weakness with the stock trading below both its 50-day and 200-day moving averages. “Caution is warranted here — I see no conviction for buyers to step in aggressively at these levels,” Kharitonov said.

Other analysts have taken a more constructive view. Fellow Traders Union analyst Viktoras Karapetjanc pointed to record revenue growth, new international partnerships and strategic deals with Nvidia as evidence of strong business momentum, adding that raised guidance and expansion into AI support a bullish long-term outlook. “Despite short-term technical headwinds, further growth is expected as PLTR’s innovation and global reach create attractive opportunities,” Karapetjanc said.

The debate over Palantir’s valuation has intensified alongside genuinely strong operating results. The company’s first-quarter revenue rose 85% year over year to $1.63 billion, the fastest growth rate in its history as a public company, with net income of $871 million, a 53% net margin, and adjusted free cash flow of $925 million. Management has guided for full-year 2026 revenue of about $7.65 billion, representing roughly 71% growth over 2025.

Even so, the company’s valuation remains a sticking point for skeptics. Even after its decline from record highs, Palantir carries a market capitalization above $300 billion against trailing revenue of about $5 billion, a multiple of roughly 60 times sales. Research firm Rebound Capital has argued the stock remains expensive even after its pullback. The firm estimates Palantir trades at roughly 80 times next-twelve-month forward earnings and contends the company behaves more like a high-touch consulting firm than a traditional software business, despite commanding a premium software valuation multiple.

Palantir has also continued signing new business even amid the stock’s swings. Earlier this month, the company announced an expanded partnership with chipmaker Nvidia. The July 1 agreement centers on integrating Nvidia’s Nemotron AI models for sovereign government deployments, and helped drive a sharp rally in Palantir shares at the time. Shares jumped 9.3% in a single afternoon session after the Nvidia announcement, alongside news that President Trump’s financial disclosures showed he held at least $1 million in Palantir stock and had recently purchased more. The company also announced an expanded commercial agreement with Surf Air Mobility and a contract to provide the U.S. Army with its Foundry platform around the same time.

More recently, Palantir has continued to broaden its commercial footprint. The company has expanded its market presence through a partnership with GNP Seguros, Mexico’s largest insurer, and a strategic alliance with Rackspace.

Wall Street remains largely optimistic on the stock despite the recent volatility. Over the past month, analysts have rated the company a Buy on average, with price targets ranging from a low of $70 to a high of $255. DA Davidson has been among the more bullish voices, upgrading the stock to Buy with a $175 price target following the Nvidia partnership news.

Palantir’s next scheduled earnings report is due in early August, a date investors are likely to watch closely for further signs of whether the company’s growth trajectory can justify its valuation. The company did not immediately respond to a request for comment on Friday’s trading.

Thousands of grills sold online and at Lowe’s and Walmart are being recalled due to the risk of glass shattering while the grill is in use, raising the risk of serious injury.

Roughly 12,660 stainless steel Cuisinart Propel+ Four Burner 3-in-1 Gas Grills are covered by the U.S. recall, which the Consumer Product Safety Commission (CPSC) announced on Thursday, while about 83 grills were sold in Canada.

The model number of the recalled grills is CGG-6331 and may be found on the label inside of the right-hand metal door of the grill, which is also where its serial number is located.

The grill includes a griddle, a stove-top burner and a pizza oven with tempered glass on the lid of the grill. The company and the CPSC have urged customers to stop using the grills and to check whether theirs is covered by the recall.

MORE THAN 1.7M GRILL BRUSHES RECALLED OVER BRISTLE HAZARD, RISK OF ‘SERIOUS INTERNAL INJURIES’

The Cuisinart Propel+ Four Burner 3-in-1 Gas Grill is being recalled due to a safety hazard, with affected consumers eligible for a refund. (Conair/CPSC)

“Consumers should stop using the recalled Cuisinart Propel+ Four Burner 3-in-1 Gas Grill immediately and visit Conair’s website to check if their grill is included in the recall,” the CPSC explained.

“If affected, follow the instructions to safely remove the tempered glass window on the pizza oven and upload two photographs to the firm’s website; one of the removed glass, and one of the grill’s serial number,” the CPSC explained.

MORE THAN 550,000 KOBALT YARD TOOLS RECALLED OVER BATTERY FIRE HAZARD

The grill is being recalled due to the risk of the tempered glass shattering and causing an injury. (Conair/CPSC)

Once a customer’s grill is confirmed as being covered by the recall, affected consumers will receive a $500 refund by check or be reimbursed for the original purchase amount with proof of receipt. 

Refunds will be issued via check within 10–15 days of a grill being confirmed as subject to the recall. The recall website noted that a receipt isn’t needed to qualify for the refund.

The CPSC and company directed consumers to write the word “Recall” with a black sharpie marker on the tempered glass after receiving a refund and to dispose of it.

CHECK YOUR AC: 13,000 UNITS RECALLED OVER FIRE RISK

The Consumer Product Safety Commission (CPSC) issued the recall. (Pavlo Gonchar/SOPA Images/LightRocket via Getty Images)

Consumers who purchased a grill that may be covered by the safety recall may visit a website set up to guide them through the process of verifying whether a grill was covered by the recall, identify and share the serial number, and submit documentation that can allow the company to verify the recalled grill and provide a refund.

Grills covered by the recall were sold at Lowe’s, Walmart and online at cuisinart.com from December 2024 through May 2026 for between $500 and $750, the CPSC said. They were imported by Conair LLC, which does business as Cuisinart, and were manufactured in China.

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The CPSC’s recall page noted that the company has received 37 reports of shattered glass during the grill’s use, while one fire was reported. No injuries have been linked to the issue, the agency noted at the time of the recall.

South Korean chipmaker SK Hynix’s record-breaking Wall Street debut is fueling a fresh surge of interest from international companies eyeing U.S. exchanges, according to Nasdaq Inc. leadership, as the memory-chip giant’s historic listing reshapes expectations for how foreign firms tap American capital markets.

SK Hynix began trading on the Nasdaq Friday under the temporary ticker SKHYV after pricing its American depositary receipts at $149 apiece, raising $26.5 billion in the largest-ever U.S. share sale by a non-American company. The offering topped Alibaba’s $25 billion raise in 2014 and ranks as the third-largest U.S. listing on record, trailing only SpaceX’s $85.7 billion debut last month and Saudi Aramco’s $29.4 billion offering in 2019.

The stock surged in its opening session, jumping as much as 17% to around $174.50 shortly after trading opened, following earlier indications the shares could trade as much as 21% above their offering price. The company sold 177.9 million ADRs, with the securities structured so U.S. investors can buy in at roughly a tenth of the cost of a full share on SK Hynix’s primary Seoul listing. Demand for the offering was strong: investors sought more than seven times the number of shares available before the deal was priced, according to Reuters.

Nasdaq Inc. President Nelson Griggs said the blockbuster listing is already spurring other international companies to weigh the U.S. market for either new initial public offerings or ADR sales, Bloomberg reported. Griggs made the remarks Friday, fresh off a trip to Europe during which he met with executives considering crossing the Atlantic for capital. According to Bloomberg, Griggs grouped the foreign issuers showing interest in U.S. listings into two categories: early-stage companies that haven’t yet listed anywhere, and established firms with existing local listings that are weighing the addition of U.S. ADRs.

The enthusiasm reflects a broader pattern that has defined 2026’s IPO market, in which international companies riding the artificial intelligence infrastructure boom have looked to U.S. exchanges for deeper capital pools and stronger valuations than they can typically command at home. Analysts have pointed to a persistent valuation gap between SK Hynix and its American rival, Micron Technology, as one motivation behind the Nasdaq listing. At the time of its debut, SK Hynix traded at roughly 5.5 times forward earnings, compared with Micron’s 6.66 times, a discrepancy the company has said it hopes the U.S. listing will help close.

SK Hynix Chairman Chey Tae-won traveled to New York personally for the company’s bell-ringing ceremony, underscoring how central the listing is to the conglomerate’s broader ambitions. “It’s a kind of dream, and now it’s a dream come true,” Chey told CNBC’s Kristina Partsinevelos on Friday. Chey said that when he meets with customers and partners, demand for chips consistently outpaces expectations, telling CNBC that even after SK Hynix announced plans to double its production capacity within five years, customers pushed back that the increase wouldn’t be enough.

The listing arrives amid an extraordinary run of financial performance for the company. SK Hynix posted first-quarter revenue of 52.58 trillion won, or about $38.1 billion, a 198% jump from the same period a year earlier, with net profit margin climbing to 77% from 46%, driven largely by high-bandwidth memory chips critical to AI accelerators. Analysts polled by data provider LSEG expect SK Hynix’s revenue to more than triple again this year to roughly $235 billion.

SK Hynix’s market value stood at about $1 trillion as of Friday, making it South Korea’s second-largest company behind Samsung Electronics. Its Seoul-listed shares have climbed 222% so far this year and roughly 634% over the past twelve months, a rally tied to the artificial intelligence industry’s voracious appetite for the high-bandwidth memory that powers AI chips from Nvidia and other producers. SK Hynix controls roughly 58% of the global HBM market, according to Counterpoint Research figures cited by CNBC, ahead of competitors Micron and Samsung, which each hold about 21%.

Market strategists framed the debut as a significant test of investor conviction in the durability of the broader AI trade, particularly after a recent pullback in semiconductor stocks tied to concerns over slowing AI spending. “Global semiconductors is the most crowded trade in the world right now,” Thomas Hayes, chairman at Great Hill Capital in New York, said. Giuseppe Sette, co-founder of investment analysis platform Reflexivity, said the Nasdaq listing was a deliberate strategic choice by the company. “This is the purest large-cap way for U.S. investors to own the AI-memory theme, and Hynix deliberately picked Nasdaq to tap that demand and the higher valuations U.S. chip names command versus Seoul,” Sette said, adding that “SK Hynix gets its deal done on the strength of the story, but companies coming after it may face a tougher, more selective market.”

The offering also drew attention from U.S. policymakers. Commerce Secretary Howard Lutnick visited a Micron event this week and said he was already in discussions with Samsung and SK Hynix about building additional manufacturing facilities in the United States, seeking to prevent South Korea from continuing to dominate advanced chip production. Micron has separately committed to investing $250 billion in new U.S. manufacturing, a pledge the company says will create more than 90,000 jobs.

SK Hynix has said proceeds from the U.S. offering will help fund new production facilities and equipment purchases, including advanced lithography machines, with the bulk of its expansion still concentrated in South Korea. The company has also committed to a $4 billion advanced packaging plant in Indiana as part of a broader push to establish a domestic U.S. manufacturing footprint alongside its listing.

Regular trading in SK Hynix shares under the permanent ticker SKHY is set to begin Monday. For Nasdaq, the listing represents a marquee win in its ongoing competition with rival exchanges for high-profile international offerings, and Griggs’ comments suggest the exchange sees the SK Hynix deal as a template it hopes to replicate with other large overseas issuers in the months ahead.

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Vehicles from a host of major car manufacturers did not contain devices alleged to have allowed them to cheat on emissions tests, a judge at the High Court has ruled.

More than a dozen manufacturers are being sued by around 1.6 million motorists over claims that several diesel vehicles made from 2009 onwards contained “prohibited defeat devices” (PDDs).

The cases involved 20 “sample vehicles” made by five manufacturers: Mercedes-Benz, Renault, Nissan, Ford, and Peugeot and Citroen.

The 880,000 motorists claimed they had been misled about emissions tests.

The ten-week trial concluded in March and, in a 369-page ruling handed down today, Lady Justice Cockerill said most of the strategies did not constitute PDDs, with the exception of one in Mercedes cars that was removed in 2015, and another used in some Peugeot-Citroen vehicles.

The judgement said: “The Court rejected most of the principal allegations advanced against the manufacturers whose vehicles were examined at trial.”

It added: “In the majority of instances, the Court found that the relevant strategy did not constitute a prohibited defeat device.”

Mercedes welcomed the ruling but said it disagreed with the court judgement that one of its four sample vehicles was not compliant prior to the software update.

The German carmaker said: “In our view, the emission control software functionalities are justifiable on both technical and legal grounds. We are actively considering all of our available options, including a potential appeal.”

Peugeot-Citroën has yet to comment.

Those taking legal action either bought, leased or otherwise acquired a diesel vehicle made by one of the companies, with most living in England and Wales.

Barristers for the motorists told the trial the devices installed in the cars allowed the vehicles to detect when they were being tested and alter the amount of harmful emissions produced so they fell within emissions regulations.

However, the court found that not every calibration or emissions-control strategy amounted to a defeat device.

“For a defeat device to be found, there needs to be an intention to cause the emissions control system to operate differently when it senses it is being tested,” the judge found.

“It was not enough for the Claimants simply to establish that the challenged strategies reduced the effectiveness of emissions-control systems outside the relevant testing conditions.”

Solicitors for the claimants did note that Justice Cockerill said “if an alternative approach to the meaning of ‘defeat device’ were taken, a larger number of devices would be established, including devices in each of the lead manufacturers cars”.

James Oldnall, managing partner at Milberg, which represented some of the claimants, said: “We are pleased that the court has ruled that Mercedes installed illegal defeat devices, just like Volkswagen back in 2015.

“The fight is not over on this case, but the first domino has fallen. We are on the right path and will continue pushing to hold these carmakers to account.”

A further trial is also scheduled for October this year to determine the consequences of any actionable breaches and any issues relating to damages or other remedies.

This case only examined 20 sample vehicles made by Mercedes-Benz, Renault, Nissan, Ford, and Peugeot and Citroen. The wider case also involves models made by Opel and Vauxhall, Volkswagen and Porsche, Jaguar Land Rover, BMW, FCA and Suzuki, Volvo, Hyundai-Kia, Toyota and Mazda.

The dieselgate scandal first emerged in September 2015, when the US Environmental Protection Agency accused Volkswagen of installing software – which became known as “defeat devices” – on diesel cars to lower readings of the cars’ nitrogen oxide emissions.

This software recognised when cars were undergoing official emissions tests, and turned on systems designed to reduce their output of nitrogen dioxide, a gas which can cause respiratory problems.

But when the cars were used on the road, the systems were turned off, in order to improve performance. The net result was that cars produced significantly higher levels of pollution in everyday use than official figures suggested.

VW later admitted the defeat devices had been used deliberately to circumvent emissions tests in the US, and had been fitted to some 11 million cars worldwide.

It has paid out some £27.8bn worldwide in fines and compensation over the scandal, mostly in the US. That includes £193m paid to 91,000 British motorists.

As part of the High Court trial in London, barristers for the car owners cited a report from the Centre for Research on Energy and Clean Air.

It found that excess nitrogen oxide – the emission created by diesel engines – had caused 124,000 premature deaths and 98,000 new cases of asthma in children in the UK and Europe between 2009 and 2024.

Fire is one of the biggest threats faced by small businesses in the Philippines. Whether you own a sari-sari store, café, restaurant, hardware shop, office, warehouse, pharmacy, salon, or retail store, a single fire incident can wipe out years of hard work within minutes.

According to the Bureau of Fire Protection (BFP), thousands of fire incidents occur across the country every year. Aside from property damage, businesses also suffer from inventory losses, interrupted operations, employee displacement, and reduced customer trust.

This is why Fire Insurance for Small Businesses is one of the most important investments every entrepreneur should consider. It provides financial protection against fire-related losses and helps businesses recover faster after unexpected disasters.

In this guide, we’ll explain everything Philippine business owners need to know about fire insurance, including its benefits, coverage, exclusions, costs, and practical tips for choosing the right policy.

What Is Fire Insurance?

Fire insurance is a type of property insurance that compensates business owners for losses or damages caused by fire. Depending on the insurance provider and policy purchased, coverage may also extend to damages resulting from lightning, explosions, smoke, and other related risks.

For small businesses, fire insurance protects valuable assets such as:

• Commercial buildings
• Office equipment
• Furniture and fixtures
• Inventory and stocks
• Machinery
• Computers and electronics
• Warehouse contents
• Store improvements

Instead of paying for repairs or replacements entirely out of pocket, the insurance company helps shoulder eligible losses based on the terms of the policy.

Why Fire Insurance Is Important for Small Businesses

1. Protects Your Business Investment

Many Filipino entrepreneurs invest years of savings into starting a business. Fire insurance safeguards that investment by reducing the financial impact of unexpected disasters.

2. Helps Business Operations Recover Faster

After a fire, businesses often need funds immediately for repairs, replacing inventory, and purchasing equipment. Insurance payouts can help shorten downtime and allow operations to resume sooner.

3. Gives Peace of Mind

Knowing your business is financially protected allows owners to focus on growth instead of constantly worrying about unexpected emergencies.

4. May Be Required by Banks

If your commercial property or business loan is financed through a bank, fire insurance may be required as part of the loan agreement.

5. Protects Business Continuity

Without insurance, a major fire could permanently close a business. Fire insurance helps businesses survive catastrophic losses and continue serving customers.

What Does Fire Insurance Usually Cover?

Coverage varies depending on the insurer and policy selected. However, most commercial fire insurance policies commonly include:

• Damage caused directly by fire
• Lightning damage
• Smoke damage
• Damage caused while extinguishing the fire
• Explosion caused by fire
• Damage to insured buildings
• Business furniture
• Office equipment
• Computers and electronics
• Business inventory
• Machinery and production equipment
• Warehouse contents

Many insurance companies also allow businesses to purchase additional coverage through policy extensions.

Optional Coverages You May Consider

Many insurers offer optional riders or endorsements that provide broader protection.

• Earthquake and fire following earthquake
• Typhoon and flood coverage
• Riot and strike damage
• Malicious damage
• Burst pipes
• Vehicle impact
• Business interruption insurance
• Loss of rental income
• Debris removal expenses
• Architect and engineering fees
• Temporary relocation costs

Business interruption insurance is especially valuable because it helps replace lost income while your business is temporarily unable to operate after a covered event.

What Is Usually Not Covered?

Every insurance policy has exclusions. Common exclusions include:

• Intentional acts by the owner
• Fraudulent claims
• Normal wear and tear
• Poor maintenance
• War and terrorism (unless specifically covered)
• Nuclear incidents
• Illegal business activities
• Losses outside the policy period

Always read the policy carefully and ask the insurance company to explain any exclusions before purchasing coverage.

How Much Fire Insurance Do Small Businesses Need?

The amount of coverage depends on several factors:

• Replacement cost of the building
• Total value of business equipment
• Inventory value
• Furniture and fixtures
• Computers and office electronics
• Machinery
• Renovation costs

A common mistake is underinsuring a business. If your insured amount is significantly lower than the property’s replacement value, you may not receive enough compensation after a major fire.

How Much Does Fire Insurance Cost in the Philippines?

Insurance premiums vary depending on multiple factors, including:

• Business type
• Building construction
• Location
• Fire protection systems
• Claims history
• Coverage amount
• Optional riders selected

Businesses located in areas with lower fire risk and equipped with smoke detectors, fire extinguishers, and sprinkler systems may qualify for more favorable premium rates compared to higher-risk properties.

Rather than choosing the cheapest policy, compare the coverage limits, exclusions, deductibles, and claim process to determine which option provides the best overall value.

How to Choose the Right Fire Insurance Policy

1. Assess Your Business Assets

Create a complete inventory of buildings, equipment, inventory, and other valuable assets.

2. Compare Multiple Insurance Providers

Obtain quotations from different insurers and compare:

• Coverage
• Premiums
• Deductibles
• Claim settlement reputation
• Customer support
• Additional benefits

3. Understand the Exclusions

Never purchase insurance based solely on price. Read the policy wording carefully.

4. Consider Business Interruption Coverage

Losing income while your business is closed can be more damaging than the fire itself.

5. Update Coverage Regularly

As your business grows, review your insurance annually to ensure your coverage keeps pace with new equipment, renovations, or increased inventory.

Tips to Reduce Fire Risks

Insurance is important, but prevention is even better.

• Install smoke detectors.
• Keep fire extinguishers accessible.
• Train employees on fire safety procedures.
• Avoid overloaded electrical outlets.
• Inspect wiring regularly.
• Maintain emergency exits.
• Store flammable materials properly.
• Conduct periodic fire drills.
• Follow BFP fire safety regulations.
• Keep important business documents backed up digitally.

What to Do After a Fire

If your business experiences a fire:

1. Ensure everyone’s safety first.
2. Contact emergency responders.
3. Notify your insurance company immediately.
4. Document all damages using photos and videos.
5. Prepare an inventory of damaged items.
6. Secure the property from further damage if safe to do so.
7. Submit all required claim documents promptly.
8. Coordinate with your insurance adjuster throughout the claims process.

Keeping purchase receipts, invoices, and updated asset records can significantly simplify the claims process.

Common Mistakes Small Business Owners Make

• Buying the cheapest policy without reviewing coverage.
• Underestimating property value.
• Not updating insurance after business expansion.
• Ignoring optional business interruption coverage.
• Failing to document business assets.
• Not reading policy exclusions.
• Waiting until after a disaster to purchase insurance.

Frequently Asked Questions (FAQs)

Is fire insurance mandatory for all small businesses?

No. However, banks may require it for financed commercial properties, and it is strongly recommended for businesses with physical assets.

Can tenants get fire insurance?

Yes. Even if you rent your business space, you can insure your inventory, equipment, furniture, and leasehold improvements.

Does fire insurance cover inventory?

Yes, provided inventory is included in your policy and declared with an appropriate insured value.

How long does claim processing take?

The timeline varies depending on the insurer, the completeness of submitted documents, and the complexity of the claim.

Can home-based businesses get fire insurance?

Some insurers offer coverage for qualified home-based businesses. Check with your insurance provider regarding eligibility and policy options.

Fire can happen without warning, but the financial consequences don’t have to be devastating. Investing in Fire Insurance for Small Businesses in the Philippines is a practical way to protect your hard-earned assets, maintain business continuity, and recover more quickly from unexpected disasters.

Whether you’re operating a small retail shop, restaurant, warehouse, office, or service-based business, having the right insurance coverage can make the difference between a temporary setback and a permanent closure.

Before purchasing a policy, compare multiple insurance providers, understand the coverage and exclusions, accurately value your assets, and consider adding business interruption coverage for more comprehensive protection. Combined with proper fire prevention practices, fire insurance forms an essential part of responsible business risk management.

Business News Philippines was launched in October 2015 as a portal for readers to learn more about operating a business in the Philippines.

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