Palantir falls after Pentagon eyes funding cuts to some parts of military by 8%
** Shares of data analytics company Palantir Technologies PLTR.O fall 4.7% to $106.9 in after-hours trade
** U.S. Defense Secretary Pete Hegseth asks parts of the military to propose what could be cut as part of a potential 8% spending reduction for them over each of the next five years
** Palantir provides governments with services such as software that visualizes army positions
** Officials said it does not appear that Hegseth wanted a major budget cut, but was looking to re-prioritize funding to better align with President Donald Trump's national security priorities
** CEO Alex Karp adopted a trading rule in December that would allow him to sell nearly 10 million PLTR shares through September 12 this year, according to a filing on Tuesday
** PLTR was up 340% in 2024
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