The three major indexes closed the week higher following a slew of data that suggests a cooling economy.
These stocks were making moves Friday:
Dell Technologies
(ticker: DELL) earned $1.74 a share on an adjusted basis in the second quarter, soundly topping its own forecast for $1.10 a share and Wall Street expectations of $1.14. Revenue of $22.9 billion beat forecasts of $20.9 billion, driven by the company’s PC and enterprise infrastructure businesses. The company also issued fiscal-year guidance that topped analysts’ estimates. The stock was up 21% and set an all-time high of $70.28 earlier in the session.
Shares of
Elastic
(ESTC), the data analytics company, rose 20% after fiscal first-quarter earnings, revenue, and margins topped analysts’ expectations.
Cloud-computing company
Nutanix
(NTNX) reported fiscal fourth-quarter revenue that beat analysts’ estimates and issued strong first-quarter sales guidance. The company’s board also authorized the repurchase of up to $350 million in stock. The stock jumped 12%.
Warner Bros. Discovery
(WBD) fell 12% and was the worst performer in the
S&P 500
on Friday. Barron’s highlighted the tasks ahead for CEO David Zaslav at the media company, which is saddled with high debt and multiple challenges.
MongoDB
(MDB) rose 3% after the software company’s second-quarter adjusted earnings of 93 cents a share easily topped forecasts of 46 cents. President and CEO Dev Ittycheria said
MongoDB
“provides developers a unified platform that supports both the foundational requirements necessary for any application and the exceptionally demanding needs of AI-specific applications, making our competitive advantage even stronger in the world of AI.”
Samsara
(IOT), the internet-of-things company, surged 13% after reporting second-quarter results that beat analysts’ estimates and raising its fiscal-year outlook.
Broadcom
(AVGO) fell 5.5% after the chip maker forecast fiscal fourth-quarter revenue of about $9.27 billion, in line with Wall Street estimates.
Broadcom
reported third-quarter adjusted earnings of $10.54, higher than $9.73 a year earlier and better than analysts’ estimates of $10.43 a share. Revenue of $8.88 billion edged past estimates of $8.85 billion.
SentinelOne
(S) rose 3.5% after the cybersecurity company reported a 46% jump in second-quarter revenue and CEO Tomer Weingarten told CNBC in an interview that the company wasn’t for sale following reports it was exploring a transaction.
PagerDuty
(PD) was down 7.7% to $23.77 even after the cloud-computing company’s second-quarter adjusted earnings and revenue beat estimates.
PagerDuty
said it expects fiscal third-quarter revenue of between $106.5 million and $108.5 million versus analysts’ forecasts of $107.3 million. Analysts at Baird Baird downgraded the stock to Neutral from Outperform with a price target of $25, down from $32, citing billings that were below guidance.
Tesla
(TSLA) unveiled a revamped Model 3 with a longer range and raised the price on the electric vehicle by about 12%. The car was unveiled In China, where the vehicle first went on sale Friday.
Tesla
also cut prices on its expensive Model S and Model X cars, which start at about $100,000. Shares of Tesla fell 5.1%.
Chinese electric-vehicle makers
Li Auto
(LI),
NIO
(
NIO
), and
XPeng
(XPEV) reported delivery numbers for August that when combined set a monthly record. U.S.-listed shares of
Li Auto
rose 1.6%, NIO was up 7.1%, and
XPeng
gained 5.2%.
Intel
(INTC) was up 4.2% after CEO Pat Gelsinger said the chip maker was tracking above the midpoint of its third-quarter guidance. Gelsinger also said Intel received “a large customer prepay” for “18A” manufacturing capacity, a reference to the company’s development of 1.8 nanometer production lines, which will be used to produce cutting-edge chips. The CEO said the prepayment allowed the company to accelerate construction of a new chip fabrication facility in Arizona.
Walgreens Boots Alliance
(WBA) fell 7.4% after it was announced that Rosalind Brewer would be stepping down as chief executive of the retail pharmacy company. She joined Walgreens in March 2021. The company also said it expects fiscal-year adjusted earnings to be at or near the low end of its previously stated range.
Lululemon Athletica
‘s (LULU) earnings in the second quarter beat analysts’ estimates and the yoga-pants maker raised fiscal-year guidance. The stock rose 6%.
Apple
(AAPL) rose 0.9% after the world’s most valuable company marked its worst month since December, falling almost 5% in August. Apple also ended its longest monthly winning streak in nine years, and a seven-month winning streak, its longest since August 2014.
Write to Joe Woelfel at [email protected]
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