RTTNews | Oct 6, 2021 10:15AM EDT

10:15 Wednesday, October 6, 2021 (RTTNews.com) - Shares of Palantir Technologies Inc. (PLTR) are up 5% on Wednesday morning after the company announced on Tuesday evening that it was awarded the majority of a US Army program of delivering data and analytics software. Both Palantir and BAE Systems were vying for the contract after being shortlisted as the finalists from a list of applicants. The company was selected by the Program Manager for Intelligence Systems and Analytics department to prepare data analytics software for the Capability Drop 2 program. The contract is worth around $823 million. Doug Philippone, Palantir’s Global Defense Lead said, "We look forward to the continued partnership with PEO IEW&S and the Army's Intelligence Community in providing new and exciting technology that helps them in their modernization efforts." The stock of the company is trading at $24.15, up $0.94 or 4.05% since the previous close at $23.21. The shares opened at $23.21 in the morning. In the 52-week period, the shares have ranged between $9.18 and $45.00.

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