Tesla, IBM and Meta Platforms helped lead most U.S. stocks higher on Thursday following a rush of profit reports from some of the country’s most influential companies. The S&P 500 rose 0.5%, as four out of every five stocks in the index climbed.

Palantir (NASDAQ: PLTR) is one of the hottest artificial intelligence (AI) stocks out there. Compared to today's stock price of around $75, that represents a 40% downside. It's not often that a stock is priced this much over analysts' targets.

Microsoft MSFT.O dropped 4.7% after forecasting disappointing growth in its cloud computing business. Meta Platforms META.O rose 4.5% after beating estimates for fourth-quarter revenue, but forecast that first-quarter sales might miss estimates.