Shares rose on Friday after the monthly US jobs report for August showed the US added 187k jobs over the month, ahead of estimates of 170k. The unemployment rate rose to 3.8% from 3.5% in July.
Dell Technologies (DELL) earned $1.74 per share on an adjusted basis in the second quarter, comfortably beating its own guidance of $1.10 per share and Wall Street’s expectations of $1.14. Revenue of $22.9 billion exceeded guidance of $20.9 billion, driven by the company’s PC and enterprise infrastructure businesses. The company also issued guidance for the fiscal year that beat analysts’ estimates. The stock rose 23%.
Elastic (ESTC), the data analytics company, rose 20% after earnings, sales and margins beat analysts’ expectations in the fiscal first quarter. The company’s outlook was better than expected and its shares rose 18%.
Cloud computing company Nutanix (NTNX) reported fourth-quarter revenue that beat analysts’ estimates and issued strong first-quarter revenue guidance. The company’s board also approved repurchases of shares worth up to $350 million. The stock rose 15%.
Advertisement – Scroll to continue
Warner Bros. Discovery (WBD) fell 7% and was the worst performer in the S&P 500 on Friday. Barron’s highlighted the work ahead for CEO David Zaslav at the media company, which is saddled with heavy debt and numerous challenges.
MongoDB (MDB) rose 5.2% after the software company’s second-quarter adjusted earnings came in at 93 cents a share, beating forecasts of 46 cents. President and CEO Dev Ittycheria said MongoDB “provides developers with a unified platform that supports both the fundamental needs of any application and the extraordinarily demanding needs of AI-specific applications, further enhancing our competitive advantage in the world of AI.”
Broadcom (AVGO) fell 4.6% after the chipmaker forecast fourth-quarter revenue of about $9.27 billion, in line with Wall Street estimates. Broadcom reported third-quarter adjusted profit of $10.54, up from $9.73 a year earlier and better than analysts’ estimates of $10.43 per share. Revenue came in at $8.88 billion, just above estimates of $8.85 billion.
SentinelOne
Advertisement – Scroll to continue
(S) rose 5.6% after the cybersecurity company reported a 46% jump in second-quarter revenue and CEO Tomer Weingarten told CNBC in an interview that the company was not for sale after reportedly exploring a transaction.
PagerDuty (PD) fell 7.9% to $23.73, even as the cloud computing company’s second-quarter adjusted earnings and revenue beat estimates. PagerDuty said it expected third-quarter revenue to be between $106.5 million and $108.5 million, compared to analyst forecasts of $107.3 million. Baird Baird analysts downgraded the stock to Neutral from Outperform with a price target of $25 (from $32), citing earnings that came in below forecasts.
Tesla (TSLA) unveiled a redesigned Model 3 with longer range and increased the price of the electric vehicle by about 12%. The car was unveiled in China, where the vehicle went on sale for the first time on Friday. Tesla also cut prices for its expensive Model S and X, which start at around $100,000. Tesla shares fell 3.5%.
Chinese electric vehicle makers Li Auto (LI), NIO (NIO) and XPeng (XPEV) reported delivery numbers for August that collectively set a monthly record. U.S.-listed shares of Li Auto rose 1.8%, NIO rose 8.8% and XPeng rose 8%.
Intel (INTC) rose 3.1% after CEO Pat Gelsinger said the chipmaker was above the midpoint of its third-quarter guidance. Gelsinger also said Intel received “a large customer upfront payment” for “18A” manufacturing capacity, a reference to the company’s development of 1.8-nanometer production lines to be used to make cutting-edge chips. The CEO said the upfront payment will allow the company to accelerate construction of a new chip manufacturing facility in Arizona.
Advertisement – Scroll to continue
Walgreens Boots Alliance (WBA) fell 3.6% after news that Rosalind Brewer would step down as CEO of the retail pharmacy company. She joined Walgreens in March 2021.
Lululemon Athletica’s (LULU) second-quarter earnings beat analysts’ estimates and the yoga pants maker raised its forecast for the fiscal year. The stock rose 4.2%.
Advertisement – Scroll to continue
Apple (AAPL) rose 0.5% after the world’s most valuable company posted its worst month since December and fell nearly 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. However, the stock closed higher for five straight days.
Write to Joe Woelfel at [email protected]