Riding a new but still volatile uptrend in the market indexes, DoorDash, Boston Scientific and 2024 initial public offering Rubrik drive an expanded list of stocks to watch on Investor's Business Daily's Leaderboard. Meanwhile, artificial intelligence juggernaut Palantir Technologies — which reported late Monday — ranks among three stocks on the IBD Leaderboard watchlist.
Kicking off a big earnings week, Palantir stock is down after hours following its report. Meanwhile, DoorDash has popped into buy range with earnings due Wednesday. The initial reaction to Palantir's report reminds investors to heed time-tested rules on risk management and how and when to buy stocks. Those same rules apply to recent or potential breakouts among IBD Leaderboard stocks like Rubrik, Boston Scientific, Uber Technologies, Loar and more.
Palantir Stock Spearheads Earnings Watch
At the close just ahead of Monday's report, Palantir closed 1% shy of a 125.41 buy point in a late-stage cup pattern. Earning the highest-possible 99 Composite Rating, Palantir has landed a spot on the IBD 50, IBD Big Cap 20 and IBD Sector Leaders.
The stock continues to show clear market leadership, with its relative strength line notching a 52-week high. Now all eyes turn to see how Palantir trades at Tuesday's open.
Featured in this column on April 14 while crafting a double bottom, DoorDash stock broke out Friday and remains in buy range. The food-delivery platform is on tap to report earnings on Wednesday.
Aerospace and defense stock Loar also has popped onto Wall Street's radar. The supplier of components to Boeing, Lockheed Martin and Airbus broke out from a cup with handle on April 24. Extended after rising over 2% Monday, Loar reports earnings on May 20.
Like DoorDash, Uber reports on Wednesday. Earning a spot on the latest list of new buys by the best mutual funds, Uber stock continues to build on a recent breakout.
Other leaders set to report this month in or near buy range include Argenx on May 8, and Doximity on May 15. Already extended from its April 24 breakout, CrowdStrike is scheduled to report on May 29.
Rubrik Stock Looks To Crack Breakout Code
After launching its initial public offering in April of last year, cybersecurity firm Rubrik went on to hit a record high in February before pulling back. It then began forming a double bottom, a common pattern in volatile markets.
With earnings not due until mid-June, shares of Rubrik rose just under 2% Monday, putting them 2% shy of the 76.11 buy point. As with Palantir, the relative strength line for Rubrik continues to rise, earning a blue dot in MarketSurge.
Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani.
