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Articles in “NASDAQ”

Couchbase's (NASDAQ:BASE) Q1 Sales Top Estimates But Stock Drops 15% Cover Image
NASDAQ BASE Earnings
Couchbase's (NASDAQ:BASE) Q1 Sales Top Estimates But Stock Drops 15%

Adam Hejl 2023/06/06 8:27pm

Database as a service company Couchbase (NASDAQ: BASE) reported Q1 FY2024 results that beat analyst expectations, with revenue up 17.6% year on year to $41 million. However, guidance for the next quarter was less impressive, coming in at $41.5 million at the midpoint, being 4.25% below analyst estimates. Couchbase made a GAAP loss of $21.9 million, down on its loss of $19.8 million, in the same quarter last year. ... Continue Reading Continue Reading
GitLab (GTLB) Shares Skyrocket, What You Need To Know Cover Image
NASDAQ GTLB Why It Moves
GitLab (GTLB) Shares Skyrocket, What You Need To Know

Anthony Lee 2023/06/06 1:20pm

What Happened: Shares of software development tools maker GitLab (NASDAQ:GTLB) jumped 11.5% in the morning session after the company reported an impressive "beat and raise" quarter. First quarter results exceeded analysts' revenue, gross margin, non-GAAP operating income, and earnings per share estimates. In addition, customer growth remained strong, with a noteworthy 43% year on year increase in customers generating over $5,000 in ARR (annual recurring revenue). However, the company continued to burn cash. Moving ahead, guidance was strong. Revenue guidance for the next quarter exceeded Consensus estimates, while full-year guidance also surpassed expectations and was revised upward. Profitability guidance for the next quarter and full year were in line. Management also touched on the company's readiness for the growing AI revolution adding that "Today, we deliver more AI-powered capabilities to customers than any other DevSecOps platform." Overall, it was a solid quarter with a decent beat on key performance metrics and a strong outlook for the full year. ... Continue Reading Continue Reading
GitLab (NASDAQ:GTLB) Exceeds Q1 Expectations, Stock Soars Cover Image
NASDAQ GTLB Earnings
GitLab (NASDAQ:GTLB) Exceeds Q1 Expectations, Stock Soars

Adam Hejl 2023/06/05 8:09pm

Software development tools maker GitLab (NASDAQ:GTLB) announced better-than-expected results in the Q1 FY2024 quarter, with revenue up 45.2% year on year to $126.9 million. Guidance for next quarter's revenue was $129.5 million at the midpoint, which is 1.88% above the analyst consensus. GitLab made a GAAP loss of $52.9 million, down on its loss of $26.6 million, in the same quarter last year. ... Continue Reading Continue Reading
Why Is Palo Alto Networks (PANW) Stock Soaring Today Cover Image
NASDAQ PANW Why It Moves
Why Is Palo Alto Networks (PANW) Stock Soaring Today

Anthony Lee 2023/06/05 1:51pm

What Happened: Shares of cybersecurity provider Palo Alto Networks (NASDAQ:PANW) jumped 5.33% in the pre-market session after reports that the company would be added to the S&P 500 index. Specifically, Dish Network, a satellite TV provider, would be replaced by Palo Alto Networks. The inclusion of Palo Alto Networks in the S&P 500 is part of the regular quarterly adjustments by S&P Dow Jones Indices to ensure that the indexes accurately reflect the market landscape. After the initial pop the shares cooled down to $224.14, up 3.17% from previous close. ... Continue Reading Continue Reading
The Trade Desk (TTD) Shares Skyrocket, What You Need To Know Cover Image
NASDAQ TTD Why It Moves
The Trade Desk (TTD) Shares Skyrocket, What You Need To Know

Anthony Lee 2023/06/02 7:22pm

What Happened: Shares of advertising software maker The Trade Desk (NASDAQ:TTD) jumped 5.41% in the morning session after Morgan Stanley upgraded its rating on the stock from Equal Weight (Hold) to Overweight (Buy). Morgan Stanley analyst Matthew Cost called the company "best-in-class" in ad tech and said that it is poised to benefit from Connected TV (CTV) growth as well as stabilization in ad markets. Cost has a $90 price target on the stock with a $190 bull case price target. After the initial pop the shares cooled down to $74.67, up 1.94% from previous close. ... Continue Reading Continue Reading
Datadog (DDOG) Stock Trades Up, Here Is Why Cover Image
NASDAQ DDOG Why It Moves
Datadog (DDOG) Stock Trades Up, Here Is Why

Anthony Lee 2023/06/02 3:50pm

What Happened: Shares of cloud monitoring software company Datadog (NASDAQ:DDOG) jumped 5.33% in the after-market session after MongoDB reported a beat-and-raise quarter where key metrics broadly exceeded expectations and guidance was strong. Consumption-based revenue models in SaaS such as MongoDB, Datadog, Snowflake, and certain of Cloudflare's products have been much debated--will an uneven macro hurt these companies as customers cut headcount and streamline spend or will ongoing increases in demand be reflected much faster than with traditional subscription models? MongoDB's earnings results show that demand is healthy, and while there may be cost containment efforts, they are not hindering the company's results. Additionally, there's a case to be made that demand for AI and the technology load that AI creates is a peripheral benefit to SaaS companies that enable data & analytics, infrastructure monitoring, and that are generally pickaxes for software engineers and developers. ... Continue Reading Continue Reading
MongoDB (MDB) Stock Trades Up, Here Is Why Cover Image
NASDAQ MDB Why It Moves
MongoDB (MDB) Stock Trades Up, Here Is Why

Jabin Bastian 2023/06/02 2:02pm

What Happened: Shares of database software company MongoDB (MDB) jumped 16.5% in the afternoon session after the company reported a "beat and raise" quarter. First quarter results beat analysts' expectations for revenue, gross margin, free cash flow, and earnings per share. Guidance was also strong. Revenue guidance for the next quarter exceeded expectations. The full year guidance was raised and also came in ahead of Consensus. The profitability guidance was similarly impressive as operating income guidance for the next quarter and full year came in ahead. The company touched on the current AI trend noting that "...MongoDB's developer data platform is well positioned to benefit from the next wave of AI applications in the years to come". Overall it was a strong quarter for the company with solid results and impressive guidance. ... Continue Reading Continue Reading
No Surprises In Broadcom's (NASDAQ:AVGO) Q2 Sales Numbers, Provides Encouraging Quarterly Guidance Cover Image
NASDAQ AVGO Earnings
No Surprises In Broadcom's (NASDAQ:AVGO) Q2 Sales Numbers, Provides Encouraging Quarterly Guidance

Petr Huřťák 2023/06/01 8:19pm

Fabless chip and software maker Broadcom (NASDAQ:AVGO) reported results in line with analyst expectations in Q2 FY2023 quarter, with revenue up 7.77% year on year to $8.73 billion. Guidance for next quarter's revenue was $8.85 billion at the midpoint, which is 1.58% above the analyst consensus. Broadcom made a GAAP profit of $3.48 billion, improving on its profit of $2.59 billion, in the same quarter last year. ... Continue Reading Continue Reading
Zscaler's (NASDAQ:ZS) Q3 Sales Top Estimates, Next Quarter Growth Looks Optimistic Cover Image
NASDAQ ZS Earnings
Zscaler's (NASDAQ:ZS) Q3 Sales Top Estimates, Next Quarter Growth Looks Optimistic

Jabin Bastian 2023/06/01 8:09pm

Cloud security platform Zscaler (NASDAQ:ZS) reported Q3 FY2023 results that beat analyst expectations, with revenue up 46% year on year to $418.8 million. The company expects that next quarter's revenue would be around $430 million, which is the midpoint of the guidance range. That was roughly in line with analyst expectations. Zscaler made a GAAP loss of $46 million, improving on its loss of $101.4 million, in the same quarter last year. ... Continue Reading Continue Reading
MongoDB (NASDAQ:MDB) Surprises With Strong Q1, Stock Jumps 13.7% Cover Image
NASDAQ MDB Earnings
MongoDB (NASDAQ:MDB) Surprises With Strong Q1, Stock Jumps 13.7%

Kayode Omotosho 2023/06/01 8:08pm

Database software company MongoDB (MDB) reported Q1 FY2024 results topping analyst expectations, with revenue up 29% year on year to $368.3 million. On top of that, guidance for next quarter's revenue was surprisingly good, being $390 million at the midpoint, 8.1% above what analysts were expecting. MongoDB made a GAAP loss of $54.2 million, improving on its loss of $77.3 million, in the same quarter last year. ... Continue Reading Continue Reading
Nvidia (NVDA) Shares Skyrocket, What You Need To Know Cover Image
NASDAQ NVDA Why It Moves
Nvidia (NVDA) Shares Skyrocket, What You Need To Know

Anthony Lee 2023/06/01 6:31pm

What Happened: Shares of leading designer of graphics chips Nvidia (NASDAQ:NVDA) jumped 5.71% in the afternoon session after Microsoft announced an agreement with cloud infrastructure startup CoreWeave. It is potentially worth billions of dollars over time. Specifically, CoreWeave sells simplified access to Nvidia’s GPUs, and the deal is yet another signal that Nvidia's chips are best-in-class for running AI models. ... Continue Reading Continue Reading
Why Okta (OKTA) Shares Are Sliding Today Cover Image
NASDAQ OKTA Why It Moves
Why Okta (OKTA) Shares Are Sliding Today

Petr Huřťák 2023/06/01 2:02pm

What Happened: Shares of identity management software maker Okta (OKTA) fell 14% in the after-market session after the company reported first quarter results that exceeded analysts' revenue, subscription revenue, adjusted operating profit, free cash flow, and earnings per share (EPS) expectations. Margin improved significantly. Additionally revenue guidance for the next quarter and full year also came in ahead of Consensus. Operating income guidance for the next quarter and full year were roughly inline. The key negative was that cRPO (current remaining performance obligations) guidance for the next quarter was below, and since since this a leading indicator of revenue, it seemed to drive the narrative and stock action. Additionally, management acknowledged the existence of macro challenges, particularly in new business acquisition across both small and medium-sized businesses (SMB) and enterprise segments. The company reported a shift in customer preferences, with requests for shorter contract terms and a greater emphasis on upsells rather than new business, resulting in smaller average deal sizes. Following the results, J.P. Morgan analysts downgraded the stock's rating from Overweight (Buy) to Neutral (Hold) and lowered the price target from $95 to $85. The analysts attributed the downgrade to macroeconomic pressures impacting the company's growth prospects. Similarly, BMO Capital analysts downgraded the stock's rating from Outperform (Buy) to Market Perform (Hold) and lowered the price target from $94 to $85. ... Continue Reading Continue Reading
Why nCino (NCNO) Shares Are Sliding Today Cover Image
NASDAQ NCNO Why It Moves
Why nCino (NCNO) Shares Are Sliding Today

Jabin Bastian 2023/06/01 2:02pm

What Happened: Shares of maker of operating system for banks nCino (NASDAQ:NCNO) fell 12.5% in the after-market session after the company reported first-quarter revenue that topped analysts' expectations. Earnings per share also beat convincingly. In addition, free cash flow improved significantly, bucking the trend of growing cash burn observed in the last two quarters. However, the guidance was underwhelming and drove the narrative. Revenue and subscription revenue guidance for the next quarter were below Consensus. The full-year revenue guidance was roughly in line. Similarly, earnings per share guidance for both the next quarter and the full year were in line with market expectations. Overall, it was a solid quarter for the company but the guidance left more to be desired. ... Continue Reading Continue Reading
Why CrowdStrike (CRWD) Stock Is Down Today Cover Image
NASDAQ CRWD Why It Moves
Why CrowdStrike (CRWD) Stock Is Down Today

Jabin Bastian 2023/06/01 2:02pm

What Happened: Shares of cybersecurity company CrowdStrike (NASDAQ:CRWD) fell 13.1% in the after-market session after the company reported first-quarter results that exceeded analysts' expectations for revenue, annual recurring revenue (ARR), free cash flow, and earnings per share. Gross margin also improved. However, there was a notable setback in terms of billings, which serves as a crucial leading indicator for near-term sales growth. Billings fell 12% below expectations. Management provided more color on the billings outlook during the earnings call noting that "given the timing of expenses, billing seasonality, and the midyear ESPP purchase, the second quarter is generally our lowest cash flow generation quarter of the year. This year we expect to see more pronounced seasonality." Additionally, CFO Burt Podbere pointed out that the company continued to observe "increased deal scrutiny and longer than typical sales cycles." Despite these, guidance was impressive. Revenue, operating income and earnings per share guidance for the next quarter and full year were ahead of Consensus, and the company raised the full year revenue and earnings per share outlook. CrowdStrike also Introduced Charlotte AI, a new generative AI security analyst. Overall, it was a strong quarter although a billings miss is never a good sign for a fast-growing SaaS company. Additionally, the markets were either expecting more (there is whisper that net new ARR, which was down year on year, was expected to be better), or the results were already priced in. ... Continue Reading Continue Reading
nCino's (NASDAQ:NCNO) Posts Q1 Sales In Line With Estimates But Full Year Guidance Underwhelms Cover Image
NASDAQ NCNO Earnings
nCino's (NASDAQ:NCNO) Posts Q1 Sales In Line With Estimates But Full Year Guidance Underwhelms

Jabin Bastian 2023/05/31 8:15pm

Maker of operating system for banks nCino (NASDAQ:NCNO) reported results in line with analyst expectations in Q1 FY2024 quarter, with revenue up 20.7% year on year to $113.7 million. However, guidance for the next quarter was less impressive, coming in at $114.8 million at the midpoint, being 2.33% below analyst estimates. nCino made a GAAP loss of $11.6 million, improving on its loss of $30 million, in the same quarter last year. ... Continue Reading Continue Reading
CrowdStrike (NASDAQ:CRWD) Beats Q1 Sales Targets But Stock Drops Cover Image
NASDAQ CRWD Earnings
CrowdStrike (NASDAQ:CRWD) Beats Q1 Sales Targets But Stock Drops

Adam Hejl 2023/05/31 8:14pm

Cybersecurity company CrowdStrike (NASDAQ:CRWD) reported Q1 FY2024 results topping analyst expectations, with revenue up 42% year on year to $692.6 million. The company expects that next quarter's revenue would be around $722.3 million, which is the midpoint of the guidance range. That was roughly in line with analyst expectations. CrowdStrike made a GAAP profit of $499 thousand, improving on its loss of $30.4 million, in the same quarter last year. ... Continue Reading Continue Reading
Okta (NASDAQ:OKTA) Surprises With Q1 Sales But Stock Drops 12.4% Cover Image
NASDAQ OKTA Earnings
Okta (NASDAQ:OKTA) Surprises With Q1 Sales But Stock Drops 12.4%

Anthony Lee 2023/05/31 8:06pm

Identity management software maker Okta (OKTA) announced better-than-expected results in the Q1 FY2024 quarter, with revenue up 24.8% year on year to $518 million. The company expects that next quarter's revenue would be around $534 million, which is the midpoint of the guidance range. That was roughly in line with analyst expectations. Okta made a GAAP loss of $119 million, improving on its loss of $242.7 million, in the same quarter last year. ... Continue Reading Continue Reading
Why Intel (INTC) Stock Is Up Today Cover Image
NASDAQ INTC Why It Moves
Why Intel (INTC) Stock Is Up Today

Anthony Lee 2023/05/31 4:16pm

What Happened: Shares of computer processor maker Intel (NASDAQ:INTC) jumped 5.23% in the morning session after the company raised its Q2 2023 revenue guidance to the high end of its previous outlook. This updated view was given at the TD Cowen conference on May 31, 2023. CFO David Zinsner added that "We gave a range of $12 billion plus or minus $500 million, and we think we are on track at $12B-$12.5B as we close out the second quarter." After the initial pop the shares cooled down to $31.26, up 4.19% from previous close. ... Continue Reading Continue Reading
Nvidia (NVDA) Shares Skyrocket, What You Need To Know Cover Image
NASDAQ NVDA Why It Moves
Nvidia (NVDA) Shares Skyrocket, What You Need To Know

Kayode Omotosho 2023/05/30 3:43pm

What Happened: Shares of leading designer of graphics chips Nvidia (NASDAQ:NVDA) jumped 5.17% in the pre-market session after Wall Street analysts continued to project huge gains in the artificial intelligence market, and the market similarly continues to understand the potential scale and runway of the opportunity. Sentiments continued to improve as the market digested the outstanding first quarter results and guidance. In addition, the company announced several AI initiatives, such as a collaboration with WPP to create an AI-powered content engine, NVIDIA Spectrum-X™, a platform that boosts the performance and efficiency of AI clouds based on Ethernet, and a new NVIDIA DGX™ supercomputer that can handle large-memory AI models for generative language applications. ... Continue Reading Continue Reading
Broadcom (AVGO) Shares Skyrocket, What You Need To Know Cover Image
NASDAQ AVGO Why It Moves
Broadcom (AVGO) Shares Skyrocket, What You Need To Know

Petr Huřťák 2023/05/30 3:43pm

What Happened: Shares of fabless chip and software maker Broadcom (NASDAQ:AVGO) jumped 8.52% in the morning session after the company's stock enjoyed bullish sentiments from Wall Street analysts who expect huge potential in the artificial intelligence market. KeyBanc Capital Markets' John Vinh expects Broadcom to benefit in the near-term from its generative AI capabilities--specifically, its TPU product. JPMorgan's Harlan Sur echoed this and praised Broadcom's custom-chip business, which he said is "gaining traction with Google for its cutting-edge AI processor chip, TPU." ... Continue Reading Continue Reading
Why Workday (WDAY) Stock Is Trading Up Today Cover Image
NASDAQ WDAY Why It Moves
Why Workday (WDAY) Stock Is Trading Up Today

Adam Hejl 2023/05/26 6:27pm

What Happened: Shares of finance and HR software company Workday (NASDAQ:WDAY) jumped 11% in the afternoon session after the company delivered an impressive "beat and raise" first quarter, surpassing analysts' expectations across key topline metrics such as total billings, total revenue, and subscription revenue. Profitability metrics also came in strong as gross margin and non-GAAP operating income were ahead of Consensus. However, there was a decline in free cash flow margin, which also fell short of estimates. Looking ahead, next quarter's total revenue guidance was roughly inline, though the low end of fiscal 2024 subscription revenue guidance was raised. Additionally, the company maintained fiscal 2024 non-GAAP operating margin guidance of 23%. The company announced Zane Rowe as the new Chief Financial Officer (CFO). He was formerly the CFO of VMware, assuming the position in 2016. Overall, the company demonstrated strong performance driven by solid revenue and profitability while guidance was reassuring. There was also qualitative emphasis in the earnings release on AI capabilities and the commitment to integrating AI throughout the product portfolio. ... Continue Reading Continue Reading
Marvell Technology (MRVL) Stock Trades Up, Here Is Why Cover Image
NASDAQ MRVL Why It Moves
Marvell Technology (MRVL) Stock Trades Up, Here Is Why

Anthony Lee 2023/05/26 6:27pm

What Happened: Shares of networking chips designer Marvell Technology (NASDAQ: MRVL) jumped 18.9% in the afternoon session after the company reported first quarter results that beat analysts' revenue and earnings per share (EPS) estimates. Inventory levels also improved. On the other hand, it was less good to see deterioration in gross and operating margin. Regardless, guidance for the next quarter was slightly ahead for both revenue and EPS. Additionally, management provided bullish comments on the rest of the year, stating that "we are expecting revenue growth to accelerate in the second half of this fiscal year, accompanied by gross and operating margin expansion" and arguing that AI is a tailwind for the company. Overall, it was a mixed quarter, but the outlook and accompanying commentary were bright spots. ... Continue Reading Continue Reading
Domo's (NASDAQ:DOMO) Posts Q1 Sales In Line With Estimates But Quarterly Guidance Underwhelms Cover Image
NASDAQ DOMO Earnings
Domo's (NASDAQ:DOMO) Posts Q1 Sales In Line With Estimates But Quarterly Guidance Underwhelms

Jabin Bastian 2023/05/25 8:11pm

Data visualisation and business intelligence company Domo (NASDAQ:DOMO) reported results in line with analyst expectations in Q1 FY2024 quarter, with revenue up 6.71% year on year to $79.5 million. The company expects that next quarter's revenue would be around $79 million, which is the midpoint of the guidance range. That was roughly in line with analyst expectations. Domo made a GAAP loss of $24.4 million, improving on its loss of $32.9 million, in the same quarter last year. ... Continue Reading Continue Reading
Marvell Technology (NASDAQ:MRVL) Exceeds Q1 Expectations, Stock Jumps 15.4% Cover Image
NASDAQ MRVL Earnings
Marvell Technology (NASDAQ:MRVL) Exceeds Q1 Expectations, Stock Jumps 15.4%

Adam Hejl 2023/05/25 8:08pm

Networking chips designer Marvell Technology (NASDAQ: MRVL) reported Q1 FY2024 results that beat analyst expectations, with revenue down 8.65% year on year to $1.32 billion. Guidance for next quarter's revenue was $1.33 billion at the midpoint, which is 1.53% above the analyst consensus. Marvell Technology made a GAAP loss of $168.9 million, down on its loss of $165.7 million, in the same quarter last year. ... Continue Reading Continue Reading
Autodesk's (NASDAQ:ADSK) Posts Q1 Sales In Line With Estimates But Quarterly Guidance Underwhelms Cover Image
NASDAQ ADSK Earnings
Autodesk's (NASDAQ:ADSK) Posts Q1 Sales In Line With Estimates But Quarterly Guidance Underwhelms

Anthony Lee 2023/05/25 8:04pm

Design software company Autodesk (NASDAQ:ADSK) reported results in line with analyst expectations in Q1 FY2024 quarter, with revenue up 8.46% year on year to $1.27 billion. However, guidance for the next quarter was less impressive, coming in at $1.32 billion at the midpoint, being 1.11% below analyst estimates. Autodesk made a GAAP profit of $161 million, improving on its profit of $146 million, in the same quarter last year. ... Continue Reading Continue Reading
Why Is AMD (AMD) Stock Soaring Today Cover Image
NASDAQ AMD Why It Moves
Why Is AMD (AMD) Stock Soaring Today

Jabin Bastian 2023/05/25 6:02pm

What Happened: Shares of computer processor maker AMD (NASDAQ:AMD) jumped 7.53% in the morning session after competitor, Nvidia, delivered an exceptional quarter that topped analysts' estimates across key metrics. Revenue surpassed expectations by an impressive 10.3%, driven by a record-breaking data center revenue of $4.28 billion. Notably, the company exhibited improved profitability, with both gross margin and operating margin outperforming expectations. Earnings per share beat by an impressive 18.8%. Inventory levels experienced a meaningful decrease during the quarter. In addition to the outstanding quarterly results, the revenue guidance for the next quarter surpassed expectations by over 50%. Similarly, the operating profit guidance exceeded Consensus estimates. Founder and CEO Jensen Huang emphasized the ongoing transformations in the computer industry, particularly the advancements in accelerated computing and generative AI. He highlighted Nvidia's readiness to seize the opportunities presented by the anticipated trillion-dollar shift in global data center infrastructure from general-purpose to accelerated computing, as firms implement generative AI into their business operations. Overall, the company's blowout quarter, with its impressive revenue growth, enhanced profitability, and positive guidance, underscored its strength in the market. ... Continue Reading Continue Reading
Why Is Applied Materials (AMAT) Stock Soaring Today Cover Image
NASDAQ AMAT Why It Moves
Why Is Applied Materials (AMAT) Stock Soaring Today

Radek Strnad 2023/05/25 6:02pm

What Happened: Shares of maker of machinery employed in semiconductor manufacturing, Applied Materials (NASDAQ:AMAT) jumped 5.24% in the morning session after competitor, Nvidia, delivered an exceptional quarter that topped analysts' estimates across key metrics. Revenue surpassed expectations by an impressive 10.3%, driven by a record-breaking data center revenue of $4.28 billion. Notably, the company exhibited improved profitability, with both gross margin and operating margin outperforming expectations. Earnings per share beat by an impressive 18.8%. Inventory levels experienced a meaningful decrease during the quarter. In addition to the outstanding quarterly results, the revenue guidance for the next quarter surpassed expectations by over 50%. Similarly, the operating profit guidance exceeded Consensus estimates. Founder and CEO Jensen Huang emphasized the ongoing transformations in the computer industry, particularly the advancements in accelerated computing and generative AI. He highlighted Nvidia's readiness to seize the opportunities presented by the anticipated trillion-dollar shift in global data center infrastructure from general-purpose to accelerated computing, as firms implement generative AI into their business operations. Overall, the company's blowout quarter, with its impressive revenue growth, enhanced profitability, and positive guidance, underscored its strength in the market. Applied Materials is a semiconductor company, and considered a peer of Nvidia. ... Continue Reading Continue Reading
Marvell Technology (MRVL) Shares Skyrocket, What You Need To Know Cover Image
NASDAQ MRVL Why It Moves
Marvell Technology (MRVL) Shares Skyrocket, What You Need To Know

Petr Huřťák 2023/05/25 6:02pm

What Happened: Shares of networking chips designer Marvell Technology (NASDAQ: MRVL) jumped 6.41% in the mid-day session after competitor, Nvidia, delivered an exceptional quarter that topped analysts' estimates across key metrics. Revenue surpassed expectations by an impressive 10.3%, driven by a record-breaking data center revenue of $4.28 billion. Notably, the company exhibited improved profitability, with both gross margin and operating margin outperforming expectations. Earnings per share beat by an impressive 18.8%. Inventory levels experienced a meaningful decrease during the quarter. In addition to the outstanding quarterly results, the revenue guidance for the next quarter surpassed expectations by over 50%. Similarly, the operating profit guidance exceeded Consensus estimates. Founder and CEO Jensen Huang emphasized the ongoing transformations in the computer industry, particularly the advancements in accelerated computing and generative AI. He highlighted Nvidia's readiness to seize the opportunities presented by the anticipated trillion-dollar shift in global data center infrastructure from general-purpose to accelerated computing, as firms implement generative AI into their business operations. Overall, the company's blowout quarter, with its impressive revenue growth, enhanced profitability, and positive guidance, underscored its strength in the market. Marvell is a semiconductor company, and considered a peer of Nvidia. ... Continue Reading Continue Reading
Why Are Nvidia (NVDA) Shares Soaring Today Cover Image
NASDAQ NVDA Why It Moves
Why Are Nvidia (NVDA) Shares Soaring Today

Kayode Omotosho 2023/05/25 1:25pm

What Happened: Shares of leading designer of graphics chips Nvidia (NASDAQ:NVDA) jumped 23.7% in the pre-market session after the company delivered an exceptional quarter that topped analysts' estimates across key metrics. Revenue surpassed expectations by an impressive 10.3%, driven by strong data center revenue. Notably, the company improved profitability, with both gross margin and operating margin outperforming expectations. Earnings per share (EPS) beat by an impressive 18.8%. Inventory levels experienced a nice decrease during the quarter. In addition to the outstanding quarterly results, the revenue guidance for the next quarter surpassed expectations by over 50%. Yes, that's not a typo. Similarly, the operating profit guidance exceeded Consensus estimates meaningfully. Founder and CEO Jensen Huang emphasized the ongoing transformations in the computer industry, particularly the advancements in accelerated computing and generative AI. He highlighted Nvidia's readiness to seize the opportunities presented by the anticipated trillion-dollar shift in global data center infrastructure from general-purpose to accelerated computing, as firms implement generative AI into their business operations. Overall, the company's blowout quarter, with its impressive revenue growth, enhanced profitability, and positive guidance, underscored its strength in the market. Nothing in this world is perfect, but this was a near-perfect quarter. ... Continue Reading Continue Reading
Nvidia (NASDAQ:NVDA) Beats Expectations in Strong Q1, Stock Jumps 14.3% Cover Image
NASDAQ NVDA Earnings
Nvidia (NASDAQ:NVDA) Beats Expectations in Strong Q1, Stock Jumps 14.3%

Radek Strnad 2023/05/24 8:25pm

Leading designer of graphics chips Nvidia (NASDAQ:NVDA) reported Q1 FY2024 results beating Wall St's expectations, with revenue down 13.2% year on year to $7.19 billion. On top of that, guidance for next quarter's revenue was surprisingly good, being $11 billion at the midpoint, 54.6% above what analysts were expecting. Nvidia made a GAAP profit of $2.04 billion, improving on its profit of $1.62 billion, in the same quarter last year. ... Continue Reading Continue Reading
Why Intuit (INTU) Shares Are Getting Obliterated Today Cover Image
NASDAQ INTU Why It Moves
Why Intuit (INTU) Shares Are Getting Obliterated Today

Radek Strnad 2023/05/24 2:13pm

What Happened: Shares of tax and accounting software provider, Intuit (NASDAQ:INTU) fell 5.45% in the pre-market session after the company reported third-quarter sales that fell short of analysts' estimates, reflecting challenges in the Consumer group attributed to a decline in total IRS returns and a decrease in the DIY category share. Furthermore, the Credit Karma group faced headwinds in loans, contributing to the overall weakness in the topline growth. However, the Small Business and Self-Employed segment delivered a strong performance, fueled by a 25% growth in QuickBooks Online Accounting revenue. While gross margin improved, it was still below expectations. Additionally, free cash flow missed. The company raised the full year guidance for revenue, non-GAAP operating profit, and EPS, but the market seemed to dismiss this to focus more on the challenges cited prior. ... Continue Reading Continue Reading
Why Analog Devices (ADI) Stock Is Falling Today Cover Image
NASDAQ ADI Why It Moves
Why Analog Devices (ADI) Stock Is Falling Today

Anthony Lee 2023/05/24 2:13pm

What Happened: Shares of manufacturer of analog chips, Analog Devices (NASDAQ:ADI) fell 6.18% in the pre-market session after the company reported second quarter results that narrowly beat analysts' estimates for revenue and earnings per share (EPS). However, free cash flow missed, and inventory levels increased. Revenue guidance for the next quarter came in below Consensus, with management calling for topline growth to moderate due to the "continued economic uncertainty and normalizing supply chains." The overall results were weak and highlighted the company's exposure to growing macro headwinds. ... Continue Reading Continue Reading
Why Is Palo Alto Networks (PANW) Stock Rocketing Higher Today Cover Image
NASDAQ PANW Why It Moves
Why Is Palo Alto Networks (PANW) Stock Rocketing Higher Today

Adam Hejl 2023/05/24 2:13pm

What Happened: Shares of cybersecurity provider Palo Alto Networks (NASDAQ:PANW) jumped 5.27% in the after-market session after the company delivered a strong "beat and raise" quarter, with third-quarter sales meeting analysts' estimates and billings surpassing Consensus projections. The subscription and support segment continued to show strength. Annual recurring revenue (ARR) from next-generation security solutions grew by an impressive 60%, highlighting the strong adoption of the company's cloud and subscription-based offerings. Earnings per share (EPS) also beat by 19%. Additionally, the company raised its full year guidance for billings, revenue, and non-GAAP EPS, which were at or above current expectations. The results were solid despite management highlighting similar macro concerns observed by peers in the quarter, including cautious spending and deal scrutiny as customers expressed concerns about the deceleration of global economic growth. ... Continue Reading Continue Reading
Why Is Photronics (PLAB) Stock Rocketing Higher Today Cover Image
NASDAQ PLAB Why It Moves
Why Is Photronics (PLAB) Stock Rocketing Higher Today

Adam Hejl 2023/05/24 2:13pm

What Happened: Shares of semiconductor photomask manufacturer Photronics (NASDAQ:PLAB) jumped 11.2% in the after-market session after the company reported impressive second quarter results that beat analysts' expectations for revenue. Management highlighted the record revenue achieved in the quarter, which was driven by robust demand for integrated circuits and flat panel displays despite mixed demand and macro backdrops for other semiconductor peers. Profitability also improved, with gross margin and operating margin both exceeding expectations. These were driven by positive volume leverage, pricing, favorable mix, and tight control of cost. Lastly, revenue and EPS guidance for the next quarter were ahead of Consensus, making for a solid quarter with many reasons for investor positivity. ... Continue Reading Continue Reading
Analog Devices (NASDAQ:ADI) Q2: Beats On Revenue But Quarterly Guidance Underwhelms Cover Image
NASDAQ ADI Earnings
Analog Devices (NASDAQ:ADI) Q2: Beats On Revenue But Quarterly Guidance Underwhelms

Radek Strnad 2023/05/24 11:10am

Manufacturer of analog chips, Analog Devices (NASDAQ:ADI) reported Q2 FY2023 results that beat analyst expectations, with revenue up 9.79% year on year to $3.26 billion. However, guidance for the next quarter was less impressive, coming in at $3.1 billion at the midpoint, being 1.81% below analyst estimates. Analog Devices made a GAAP profit of $977.7 million, improving on its profit of $783.3 million, in the same quarter last year. ... Continue Reading Continue Reading
Photronics (NASDAQ:PLAB) Beats Expectations in Strong Q2, Next Quarter Sales Guidance Is Optimistic Cover Image
NASDAQ PLAB Earnings
Photronics (NASDAQ:PLAB) Beats Expectations in Strong Q2, Next Quarter Sales Guidance Is Optimistic

Kayode Omotosho 2023/05/24 10:04am

Semiconductor photomask manufacturer Photronics (NASDAQ:PLAB) announced better-than-expected results in the Q2 FY2023 quarter, with revenue up 12.1% year on year to $229.3 million. On top of that, guidance for next quarter's revenue was surprisingly good, being $229 million at the midpoint, 4.09% above what analysts were expecting. Photronics made a GAAP profit of $59.3 million, improving on its profit of $43 million, in the same quarter last year. ... Continue Reading Continue Reading
Palo Alto Networks's (NASDAQ:PANW) Posts Q3 Sales In Line With Estimates Cover Image
NASDAQ PANW Earnings
Palo Alto Networks's (NASDAQ:PANW) Posts Q3 Sales In Line With Estimates

Jabin Bastian 2023/05/23 8:09pm

Cybersecurity provider Palo Alto Networks (NASDAQ:PANW) reported results in line with analyst expectations in Q3 FY2023 quarter, with revenue up 24.1% year on year to $1.72 billion. The company expects that next quarter's revenue would be around $1.95 billion, which is the midpoint of the guidance range. That was roughly in line with analyst expectations. Palo Alto Networks made a GAAP profit of $107.8 million, improving on its loss of $73.2 million, in the same quarter last year. ... Continue Reading Continue Reading
Why Angi (ANGI) Stock Is Up Today Cover Image
NASDAQ ANGI Why It Moves
Why Angi (ANGI) Stock Is Up Today

Adam Hejl 2023/05/23 2:03pm

What Happened: Shares of home services online marketplace ANGI (NASDAQ: ANGI) jumped 5.94% in the after-market session after activist investor TCS Capital, which built more than a 4% stake in Yelp, proposed a merger between Angi and Yelp. TCS argued that such a deal would create a dominant player in the lucrative home services market and generate meaningful revenue and cost synergies. TCS Capital also suggested that Yelp could attract interest from other potential suitors, such as strategic or private equity buyers that could benefit from its rich data and local ad network. After the initial pop the shares cooled down to $3.33, up 4.06% from previous close. ... Continue Reading Continue Reading
Why Are Broadcom (AVGO) Shares Soaring Today Cover Image
NASDAQ AVGO Why It Moves
Why Are Broadcom (AVGO) Shares Soaring Today

Anthony Lee 2023/05/23 2:03pm

What Happened: Shares of fabless chip and software maker Broadcom (NASDAQ:AVGO) jumped 5.41% in the pre-market session after Apple announced a multi-billion dollar deal with the company to secure the supply of critical 5G and wireless components for its devices. The deal involves Broadcom providing Apple with advanced radio frequency (RF) solutions, including FBAR filters that enable high-performance cellular connectivity. After the initial pop the shares cooled down to $683.08, up 0.73% from previous close. ... Continue Reading Continue Reading
Why Is Zoom Video (ZM) Stock Rocketing Higher Today Cover Image
NASDAQ ZM Why It Moves
Why Is Zoom Video (ZM) Stock Rocketing Higher Today

Anthony Lee 2023/05/23 1:38pm

What Happened: Shares of video conferencing platform Zoom (NASDAQ:ZM) jumped 9.53% in the pre-market session after the company reported a "beat and raise" quarter. First quarter results exceeded analysts' expectations for revenue, free cash flow, and adjusted operating income. Earnings per share (EPS) also beat by an impressive 17%. It was also good to see gross margin improve. Guidance was solid, with next quarter's revenue and adjusted operating profit guidance both slightly ahead. Additionally, full year revenue and adjusted operating profit guidance were both raised and came in ahead of Consensus, which was a big bright spot. On the other hand, it was unfortunate to see the slowdown in new contract wins and the revenue retention rate deteriorated. Another negative is the slowdown in the Enterprise business. Overall, it was a solid quarter for Zoom Video. Following the results, MoffettNathanson analyst upgraded the stock's rating from Underperform (Sell) to Market Perform (Hold). After the initial pop the shares cooled down to $66.34, down 7.2% from previous close. ... Continue Reading Continue Reading
Zoom Video (NASDAQ:ZM) Surprises With Q1 Sales, Gross Margin Improves Cover Image
NASDAQ ZM Earnings
Zoom Video (NASDAQ:ZM) Surprises With Q1 Sales, Gross Margin Improves

Radek Strnad 2023/05/22 8:10pm

Video conferencing platform Zoom (NASDAQ:ZM) reported Q1 FY2024 results beating Wall St's expectations, with revenue up 2.94% year on year to $1.11 billion. The company expects that next quarter's revenue would be around $1.11 billion, which is the midpoint of the guidance range. That was roughly in line with analyst expectations. Zoom Video made a GAAP profit of $15.4 million, down on its profit of $113.7 million, in the same quarter last year. ... Continue Reading Continue Reading
Applied Materials (NASDAQ:AMAT) Q2: Strong Sales, Provides Encouraging Quarterly Guidance Cover Image
NASDAQ AMAT Earnings
Applied Materials (NASDAQ:AMAT) Q2: Strong Sales, Provides Encouraging Quarterly Guidance

Jabin Bastian 2023/05/18 8:07pm

Maker of machinery employed in semiconductor manufacturing, Applied Materials (NASDAQ:AMAT) reported Q2 FY2023 results that beat analyst expectations, with revenue up 6.16% year on year to $6.63 billion. Guidance for next quarter's revenue was $6.15 billion at the midpoint, which is 1.73% above the analyst consensus. Applied Materials made a GAAP profit of $1.58 billion, improving on its profit of $1.54 billion, in the same quarter last year. ... Continue Reading Continue Reading
Why SciPlay (SCPL) Stock Is Up Today Cover Image
NASDAQ SCPL Why It Moves
Why SciPlay (SCPL) Stock Is Up Today

Radek Strnad 2023/05/18 1:01pm

What Happened: Shares of digital casino game developer SciPlay (NASDAQ:SCPL) jumped 25.4% in the pre-market session after Light & Wonder proposed to buy out the remaining 17% stake in SciPlay that it does not already own for $20.00 per share in cash, valuing the deal at $422 million and the company at $2.1 billion. The offer implied a 28.5% premium over SciPlay's closing price on May 17, 2023. Light & Wonder added that "the deal would enable seamless collaboration with SciPlay and merge the balance sheets of both companies, giving more flexibility to invest cash where it can create the most value for shareholders." ... Continue Reading Continue Reading
Why AppLovin (APP) Stock Is Up Today Cover Image
NASDAQ APP Why It Moves
Why AppLovin (APP) Stock Is Up Today

Kayode Omotosho 2023/05/17 6:53pm

What Happened:Shares of mobile app advertising platform AppLovin (NASDAQ: APP) jumped 5.86% in the after-market session after analyst Omar Dessouky of Bank of America upgraded the stock's rating from Neutral (Hold) to Buy and raised the price target from $21 to $27. The analyst added that "Applovin's new machine learning engine will accelerate revenue growth in 2023." In the last earnings press release, AppLovin emphasized that upgrading the core machine learning AXON technology will be one of the three key growth initiatives within the Software Platform segment. The AXON technology was launched two years ago and leverages predictive technology to improve the efficiency of AppLovin's advertising platform by matching apps with the users who are most inclined to install them. ... Continue Reading Continue Reading
Why WalkMe (WKME) Shares Are Sliding Today Cover Image
NASDAQ WKME Why It Moves
Why WalkMe (WKME) Shares Are Sliding Today

Radek Strnad 2023/05/17 1:00pm

What Happened:Shares of user support software provider WalkMe (NASDAQ: WKME) fell 18.2% in the after-market session after the company reported first-quarter results that narrowly beat analysts' revenue estimates, though the revenue growth remained weak. Earnings per share (EPS) also beat. However, cash burn increased. In addition, the revenue guidance for the next quarter and full year were below Consensus. On a more positive note, the operating income guidance surpassed expectations for both the next quarter and the full year. The topline guidance implies an anticipated deceleration in revenue growth to high single digits compared to the robust double-digit growth observed in the previous year. Overall, the results were weak, and the stock reaction is showing that the market is disappointed by topline results and guidance which wasn't made up for by slightly better profit results and guidance. ... Continue Reading Continue Reading
Why Wix (WIX) Stock Is Up Today Cover Image
NASDAQ WIX Why It Moves
Why Wix (WIX) Stock Is Up Today

Jabin Bastian 2023/05/17 1:00pm

What Happened:Shares of website design and e-commerce platform provider Wix.com (NASDAQ:WIX) jumped 9.2% in the after-market session after the company reported a "beat and raise" quarter. First quarter results surpassed analysts' expectations for revenue, operating income, free cash flow, and earnings per share. Revenue guidance for the next quarter and full year were also above Consensus. An additional positive aspect was the company's upward revision of the full-year free cash flow guidance, excluding HQ costs, now projected at $172 - $180 million. This reflects a significant improvement compared to the previous outlook of $152 - $162 million. Furthermore, the non-GAAP gross margin for the full year was raised to approximately 67%, surpassing the previous expectation of around 66%. These results and revisions highlight the company's strong performance and upbeat outlook going forward. ... Continue Reading Continue Reading
Why Agilysys (AGYS) Shares Are Falling Today Cover Image
NASDAQ AGYS Why It Moves
Why Agilysys (AGYS) Shares Are Falling Today

Anthony Lee 2023/05/17 1:00pm

What Happened: Shares of hospitality industry software provider Agilysys (NASDAQ:AGYS) fell 6.16% in the after-market session after the company reported fourth-quarter results that exceeded analysts' estimates for revenue, free cash flow, and earnings per share. However, gross margin declined and fell below expectations. In addition, revenue and adjusted EBITDA guidance for the full year were below Consensus. Overall, it was a weaker quarter for the company, and the provided guidance offers limited reasons for optimism. ... Continue Reading Continue Reading
WalkMe (NASDAQ:WKME) Posts Better-Than-Expected Sales In Q1 But Stock Drops 19.3% Cover Image
NASDAQ WKME Earnings
WalkMe (NASDAQ:WKME) Posts Better-Than-Expected Sales In Q1 But Stock Drops 19.3%

Adam Hejl 2023/05/17 11:07am

User support software provider WalkMe (NASDAQ: WKME) announced better-than-expected results in the Q1 FY2023 quarter, with revenue up 15.9% year on year to $65.9 million. However, guidance for the next quarter was less impressive, coming in at $65.5 million at the midpoint, being 2.29% below analyst estimates. WalkMe made a GAAP loss of $23.6 million, improving on its loss of $29.7 million, in the same quarter last year. ... Continue Reading Continue Reading
Wix (NASDAQ:WIX) Q1: Beats On Revenue, Provides Encouraging Quarterly Guidance Cover Image
NASDAQ WIX Earnings
Wix (NASDAQ:WIX) Q1: Beats On Revenue, Provides Encouraging Quarterly Guidance

Petr Huřťák 2023/05/17 5:24am

Website design and e-commerce platform provider Wix.com (NASDAQ:WIX) reported Q1 FY2023 results beating Wall St's expectations, with revenue up 9.51% year on year to $374.1 million. Guidance for next quarter's revenue was $382.5 million at the midpoint, which is 1.3% above the analyst consensus. Wix made a GAAP loss of $10.4 million, improving on its loss of $227.3 million, in the same quarter last year. ... Continue Reading Continue Reading
Agilysys (NASDAQ:AGYS) Exceeds Q4 Expectations Cover Image
NASDAQ AGYS Earnings
Agilysys (NASDAQ:AGYS) Exceeds Q4 Expectations

Anthony Lee 2023/05/16 8:21pm

Hospitality industry software provider Agilysys (NASDAQ:AGYS) beat analyst expectations in Q4 FY2023 quarter, with revenue up 13.6% year on year to $52.9 million. Guidance for the full year was also close to analyst expectations with revenues guided to $232.5 million at the midpoint. Agilysys made a GAAP profit of $4.08 million, improving on its profit of $1.98 million, in the same quarter last year. ... Continue Reading Continue Reading
Why AMD (AMD) Stock Is Up Today Cover Image
NASDAQ AMD Why It Moves
Why AMD (AMD) Stock Is Up Today

Radek Strnad 2023/05/16 7:17pm

What Happened: Shares of computer processor maker AMD (NASDAQ:AMD) jumped 5.5% in the afternoon session after analyst Stacy Rasgon of Bernstein suggested in a research report titled 'Q1 CPU Channel Drain - Still Ugly but Less ugly' that the PC market is undergoing a phase of "normalization" to pre-COVID-19 levels. The analyst added that the correction in the PC market may look bad when compared to the pandemic pull-forward in demand but is actually in-line with pre-COVID levels (41 million notebook shipments in Q1'23 vs. 39 million in Q1'19). Rasgon added that "the current correction probably has a quarter or two more to go, and a normalization in the back half of the year appears plausible." Stabilization rather than further declines is certainly good news. After the initial pop the shares cooled down to $102.17, up 4.9% from previous close. ... Continue Reading Continue Reading
Why Are Upstart (UPST) Shares Soaring Today Cover Image
NASDAQ UPST Why It Moves
Why Are Upstart (UPST) Shares Soaring Today

Kayode Omotosho 2023/05/15 7:22pm

What Happened: Shares of AI lending platform Upstart (NASDAQ:UPST) jumped 6.16% in the morning session after investment manager, Castlelake, L.P. partnered with Eltura Capital Management, a co-investor and minority partner, to acquire consumer installment loans worth up to $4 billion from the company. The company added that "Castlelake's support will help ensure we have the resources to continue scaling the deployment of our AI models and expanding access to affordable credit for all consumers." Given recent bank failures, the funding should help reinforce Upstart's balance sheet ahead of a potential economic downturn amid the growing risks in the lending space. ... Continue Reading Continue Reading
Why The RealReal (REAL) Stock Is Up Today Cover Image
NASDAQ REAL Why It Moves
Why The RealReal (REAL) Stock Is Up Today

Kayode Omotosho 2023/05/15 7:22pm

What Happened: Shares of secondhand luxury marketplace The RealReal (NASDAQ: REAL) jumped 7.01% in the afternoon session after Scion Asset Management, the hedge fund run by Michael Burry, who gained fame for betting against the housing bubble, revealed a stake of more than 684K shares in its latest filing. The move may spark interest and sway market sentiment given Burry's track record. ... Continue Reading Continue Reading
Western Digital (WDC) Stock Trades Up, Here Is Why Cover Image
NASDAQ WDC Why It Moves
Western Digital (WDC) Stock Trades Up, Here Is Why

Kayode Omotosho 2023/05/15 3:14pm

What Happened: Shares of leading data storage manufacturer Western Digital (NASDAQ: WDC) jumped 7.2% in the pre-market session after a report that the company is stepping up merger talks with Kioxia Holdings Corp. According to the report, the deal would give Kioxia a 43% stake in the merged entity, with Western Digital holding a 37% stake and the rest going to existing shareholders. Kioxia recently put its IPO plans on hold due to the weak flash-memory market. The memory chip market is in a tough spot as flash memory prices plummet and demand fails to pick up amid bloated inventories. ... Continue Reading Continue Reading
Why Are Monday.com (MNDY) Shares Soaring Today Cover Image
NASDAQ MNDY Why It Moves
Why Are Monday.com (MNDY) Shares Soaring Today

Jabin Bastian 2023/05/15 3:14pm

What Happened: Shares of project management software maker Monday.com (NASDAQ:MNDY) jumped 12.1% in the pre-market session after the company reported a "beat and raise" quarter. First-quarter results exceeded analysts' expectations for revenue, gross margin, operating income, free cash flow, and earnings per share. Revenue guidance for the next quarter and full year also came in above Consensus, with the company raising the full-year guidance. Adding to the improved cash position, Monday.com enhanced its profitability with non-GAAP operating income at near break even. Likewise, the operating income margin guidance for the full year showed expectations of near break even. Management highlighted the continued focus on profitability, adding that "the monday.com team is off to a strong start in 2023, with our results reflecting increasing customer demand for our Work OS platform and product suite, as well as our ongoing commitment to improving efficiency and profitability." The Q1 results were strong, with solid revenue growth and improved margins and cash position. Overall, it was a standout quarter compared to the mixed results from other tech companies, and this should cause investors to raise their projections. ... Continue Reading Continue Reading
Monday.com (NASDAQ:MNDY) Exceeds Q1 Expectations, Stock Jumps 12% Cover Image
NASDAQ MNDY Earnings
Monday.com (NASDAQ:MNDY) Exceeds Q1 Expectations, Stock Jumps 12%

Jabin Bastian 2023/05/15 11:07am

Project management software maker Monday.com (NASDAQ:MNDY) announced better-than-expected results in the Q1 FY2023 quarter, with revenue up 49.5% year on year to $162.3 million. Guidance for next quarter's revenue was $169 million at the midpoint, 2.25% above the average of analyst estimates. monday.com made a GAAP loss of $14.7 million, improving on its loss of $66.7 million, in the same quarter last year. ... Continue Reading Continue Reading
Why Himax (HIMX) Shares Are Falling Today Cover Image
NASDAQ HIMX Why It Moves
Why Himax (HIMX) Shares Are Falling Today

Kayode Omotosho 2023/05/11 4:39pm

What Happened: Shares of semiconductor maker Himax Technologies (NASDAQ:HIMX) fell 8.09% in the morning session after the company reported first-quarter results that exceeded analysts' expectations for revenue, though sales were down in absolute terms falling 41% year on year. The sales decline was attributed to a sudden demand drop in the automotive business. The automotive business has been the biggest revenue driver in recent years and accounts for over 30% of total sales. On a brighter note, earnings per share (EPS) beat estimates, and free cash flow and inventory levels both improved. However gross margin deteriorated coming in at 28%, down from 47% in the same quarter last year. Management noted that "Himax is going through a challenging second quarter in terms of both sales and gross margin but believes this will be a short-term phenomenon with a rebound around the corner starting in the second half." There many puts and takes, positives and negative, this quarter but overall it was a poor performance. ... Continue Reading Continue Reading
Alarm.com (ALRM) Stock Trades Up, Here Is Why Cover Image
NASDAQ ALRM Why It Moves
Alarm.com (ALRM) Stock Trades Up, Here Is Why

Radek Strnad 2023/05/11 4:39pm

What Happened: Shares of home security and automation software provider Alarm.com (NASDAQ:ALRM) jumped 7.96% in the morning session after the company reported a "beat and raise" quarter. First-quarter results exceeded analysts' expectations for revenue, adjusted EBITDA, and earnings per share (EPS). While the topline growth remained muted on an absolute basis, the SaaS and license division led the charge, driving reported double-digit growth in the mid-teens, excluding the Vivint license income from Q1 2022. However, the company recorded a cash burn, as free cash flow turned negative. Despite this, guidance for revenue and adjusted EBITDA were raised for the full year, with both metrics in line with Consensus. The overall results were positive, considering the improved outlook and the strength of the SaaS and license segment, which continues to account for a bigger share of total revenue. After the initial pop the shares cooled down to $50.19, up 4.87% from previous close. ... Continue Reading Continue Reading
Why Are Entegris (ENTG) Shares Soaring Today Cover Image
NASDAQ ENTG Why It Moves
Why Are Entegris (ENTG) Shares Soaring Today

Kayode Omotosho 2023/05/11 4:39pm

What Happened: Shares of semiconductor materials supplier Entegris (NASDAQ:ENTG) jumped 8.21% in the morning session after the company reported first-quarter revenue, operating income, and free cash flow that surpassed analysts' expectations. Inventory levels rose, with management adding that "2023 continues to be an uncertain year for the semiconductor industry." Despite this, earnings per share (EPS) also came in strong, beating estimates by a robust 25%. Revenue guidance for the next quarter exceeded Consensus, while the EPS guidance was in line. As a reminder, management had suggested some sequential decline in Q2 on the Q4 call, so these results are likely a positive surprise for investors. In addition, management provided some updates on the recent sale of the Electronic Chemicals and QED business and hoped to realize $800 million. Earlier, Entegris announced the sale of the Electronic Chemicals business to Fujifilm for $700m. These actions mark important milestones in the company's path towards optimizing the product portfolio for long-term strategic value and to reduce leverage. The market seems to be cheering the results, guidance, and strategic actions. ... Continue Reading Continue Reading
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