11:38 AM EDT, 09/09/2024 (MT Newswires) -- (Updates with stock move in the headline and the first paragraph, analyst comment in the second paragraph.)

Palantir Technologies ( PLTR ) shares were more than 12% higher in recent Monday trading, extending gains following late Friday's announcement of the stock's inclusion in the S&P 500 index.

"Getting added to the S&P 500 Index is an important moment in the Palantir ( PLTR ) story that we believe marks a new era of enterprise growth and profitability over the next few years," Wedbush said in a note.

Meanwhile, Palantir ( PLTR ) and BP (BP) said Monday they have agreed to deploy Palantir's ( PLTR ) AIP software under an expanded deal.

The software is expected to support BP's efforts to use large language models to expedite human decision-making via AI recommendations, the companies said.

Price: 33.99, Change: +3.66, Percent Change: +12.05