** Shares of data analytics company Palantir Technologies PLTR.O fall 4.7% to $106.9 in after-hours trade
** U.S. Defense Secretary Pete Hegseth asks parts of the military to propose what could be cut as part of a potential 8% spending reduction for them over each of the next five years
** Palantir provides governments with services such as software that visualizes army positions
** Officials said it does not appear that Hegseth wanted a major budget cut, but was looking to re-prioritize funding to better align with President Donald Trump's national security priorities
** CEO Alex Karp adopted a trading rule in December that would allow him to sell nearly 10 million PLTR shares through September 12 this year, according to a filing on Tuesday
** PLTR was up 340% in 2024
(Reporting by Juby Babu in Mexico City)
((Juby.Babu@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.