Palantir Technologies shares fell 7.41% to $166.59 on Wednesday as investors took profits after a 48% August rally. The decline followed the Army Contracting Command’s award of a $127 million prime agreement to Palantir USG for eight TITAN ground stations, with Anduril Industries and L3Harris Technologies as partners. Palantir also announced that Peter Zaffino, former CEO and Executive Chairman of AIG, will become its Global Head of Financial Services on Jan. 15, 2027. The company reported second-quarter revenue of $1.94 billion, up 93% year over year, while U.S. revenue rose 115% to $1.57 billion and adjusted earnings reached 41 cents per share. Technically, the stock remains above its 50-day and 200-day simple moving averages (SMAs), but has fallen below its 20-day SMA. Its relative strength index (RSI), a momentum gauge, stood at a neutral 50.63, while the February death cross remains a longer-term caution signal.