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Why UiPath (PATH) Stock Is Trading Up Today
Shares of automation software company UiPath (NYSE:PATH) jumped 5.2% in the afternoon session as equities soared (Nasdaq +1.2%, S&P 500 +0.9%) after The Bureau of Labor Statistics reported nonfarm payrolls for September 2024, which exceeded expectations. Notably, nonfarm payrolls increased by 254,000, significantly surpassing the consensus estimate of 150,000. In addition, the unemployment rate clocked in at 4.1%, slightly below analysts' expectations of 4.2%.
Atlassian (TEAM) Shares Skyrocket, What You Need To Know
Shares of IT project management software company, Atlassian (NASDAQ:TEAM) jumped 5.4% in the afternoon session as equities soared (Nasdaq +1.2%, S&P 500 +0.9%) after The Bureau of Labor Statistics reported nonfarm payrolls for September 2024, which exceeded expectations. Notably, nonfarm payrolls increased by 254,000, significantly surpassing the consensus estimate of 150,000. In addition, the unemployment rate clocked in at 4.1%, slightly below analysts' expectations of 4.2%.
Why Rivian (RIVN) Shares Are Falling Today
Shares of electric vehicle manufacturer Rivian (NASDAQ:RIVN) fell 9.4% in the morning session after the company cut its annual (2024) production estimate to between 47,000 and 49,000 vehicles (versus its prior guidance of 57,000 vehicles). Rivian cited supply chain issues partly caused by a shortage of components used to make some of its vehicles. The company also reported third-quarter production and delivery numbers, which fell short of consensus estimates. Overall, the updates suggest the Rivian might struggle to hit its sales targets heading into the last quarter of the year.