Dry cannabis flowers inside the packaging room at the Aphria Inc. Diamond facility in Leamington, Ontario, Canada, on Wednesday, Jan. 13, 2021.
Anne Sakkab | Bloomberg | Getty Images
Stay informed with the latest company updates.
Salesforce saw a 3% surge in its stock following the announcement of its quarterly results and guidance that exceeded Wall Street’s expectations. The company reported growth in all five of its product categories and CEO Marc Benioff is optimistic about future expansion with the integration of artificial intelligence.
Cybersecurity firm CrowdStrike experienced an 8.7% jump in its stock after beating analysts’ second-quarter expectations and providing positive earnings and revenue guidance for the third quarter and full year.
Discount retail chain Dollar General faced a 13% decline in its stock after reporting lower-than-expected second-quarter earnings per share and disappointing guidance for the second quarter and full year.
Following a recommendation from the Department of Health and Human Services to ease restrictions on marijuana, cannabis stocks including Canopy Growth, Tilray Brands, and Cronos Group experienced gains of 21%, 8.6%, and 10.2%, respectively.
Data analytics company Palantir witnessed a 10% drop in its stock after receiving a downgrade from Morgan Stanley. The downgrade cited difficulties in monetizing artificial intelligence, which could potentially lead to a share price decline of over 40%.
Networking equipment provider Arista Networks saw a 3.8% increase in its stock after receiving a buy rating from Citi, which highlighted the company’s exposure to long-term artificial intelligence opportunities.
Access management company Okta reported better-than-expected second-quarter earnings and provided a strong full-year outlook, resulting in a 12.4% surge in its stock. The company’s adjusted earnings per share of 31 cents and revenues of $556 million exceeded analysts’ predictions.
Discount retail stock Five Below dropped 4.8% due to disappointing third-quarter guidance, with revenues projected to be lower than expected.
Shopify experienced an 8.1% increase in its shares after announcing a partnership that allows its merchants to offer Amazon’s “Buy with Prime” option, providing access to benefits such as fast and free delivery.
Jewelry company Signet Jewelers saw a 5% jump in its stock after reporting better-than-expected second-quarter earnings and revenue. The company also expressed optimism about a multiyear rebound in engagements starting later this year.
Shares of UBS rose over 4% following the announcement of higher-than-expected profits and job cuts as part of the integration process with Credit Suisse.
Pet food retailer Chewy experienced an 11% decline in its shares despite beating expectations and posting surprise earnings. The company reported a decline in active users and noted growing customer caution.
Vintage lingerie brand Victoria’s Secret witnessed a 6.1% increase in its stock despite missing second-quarter earnings expectations. The company also anticipated a wider-than-expected loss for the current quarter.
Natural gas and electric utility UGI saw a surge of over 9% in midday trading after announcing plans to explore strategic alternatives and review its cost structure and capital allocation priorities.
Regional airline SkyWest jumped 6.6% following an upgrade to outperform by Raymond James, which cited an improved outlook for pilot hiring.
— CNBC’s Tanaya Macheel, Sarah Min, Yun Li, Alex Harring, Michelle Fox, Pia Singh, and Jesse Pound contributed to this report.
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
