Stocks rose on Friday after the US monthly jobs report for August revealed that the US added 187,000 jobs during the month, higher than the estimate of 170,000 jobs.
Dell Technologies (DELL) earned $1.74 per share on an adjusted basis in the second quarter, soundly beating its own forecast of $1.10 per share and Wall Street’s forecast of $1.14. Revenue of $22.9 billion beat expectations of $20.9 billion, driven by the company’s personal computer and enterprise infrastructure businesses. The company also issued guidance for the fiscal year that beat analyst estimates. The stock rose 23%.
Shares of Elastic (ESTC), a data analytics company, rose 17% after fiscal first-quarter earnings, revenue and margins beat analyst expectations. The company’s forecast came in better than expected and the stock rose 18%.
Cloud computing company Nutanix (NTNX) reported fourth-quarter fiscal revenue that beat analyst estimates and issued Strong sales guidance in the first quarter. The company’s board of directors also authorized the buyback of up to $350 million in shares. The stock jumped 16%.
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MongoDB (MDB) stock jumped 6.2% after the software company’s second-quarter adjusted earnings of 93 cents a share handily beat expectations of 46 cents. President and CEO Dev Ittycheria said that MongoDB “provides developers with a unified platform that supports both the prerequisites needed for any application and the exceptionally pressing needs of applications for AI, making our competitive advantage even stronger in the AI world.”
Broadcom (AVGO) fell 4.1% after the chipmaker forecast fiscal fourth-quarter revenue of about $9.27 billion, in line with Wall Street estimates. Broadcom reported adjusted third-quarter earnings of $10.54, up from $9.73 a year earlier and better than analyst estimates of $10.43 per share. Revenue of $8.88 billion beat previous estimates of $8.85 billion.
SentinelOne (S) stock rose 8.3% after the cybersecurity company reported a 46% jump in second-quarter revenue, and CEO Tomer Weingarten told CNBC in an interview that the company is not for sale following reports that it is exploring a deal.
PagerDuty (PD) fell 7.7% even after the cloud computing company’s adjusted earnings and revenue in the second quarter beat estimates. PagerDuty
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It said it expects fiscal third-quarter revenue to range between $106.5 million and $108.5 million, versus analyst expectations of $107.3 million.
TSLA unveiled a refreshed Model 3 with a longer range and raised the price of the electric car by about 12%. The car was unveiled in China, where the car went on sale for the first time on Friday. Tesla also slashed the prices of its expensive Model S and Model X cars, which start at around $100,000. Tesla shares fell 1.3%.
Chinese electric vehicle makers Li Auto (LI), NIO (NIO), and XPeng (XPEV) reported that they had numbers for the month of August compared to when they collectively set a record month. US-listed Li Auto shares rose 0.5%, NIO shares rose 4.9%, and XPeng shares rose 4%.
Intel (INTC) stock rose 2.8% after CEO Pat Gelsinger said the chipmaker was tracking above the middle of its guidance for the third quarter. Gelsinger also said that Intel has received “a large advance payment from customers” for “18A” manufacturing capacity, referring to the company’s development of 1.8nm production lines, which will be used to produce advanced chips. The CEO said the advance payment allowed the company to speed up construction of a new chip-making facility in Arizona.
Apple (AAPL) rose 0.6% after the world’s most valuable company posted its worst month since December, falling nearly 5% in August. apple It also ended its longest monthly winning streak in nine years, and a seven-month winning streak, the longest since August 2014. However, the stock closed higher for five consecutive days.
Walgreens Boots Alliance (WBA) fell 2.2% after announcing Rosalind Brewer’s resignation as CEO of the retail pharmacy company. She joined Walgreens in March 2021.
Second-quarter earnings for Lululemon Athletica (LULU) beat analyst estimates and the yoga pants maker raised guidance for the fiscal year. The stock rose 1.8%.
Write to Joe Woelfel at joseph.woelfel@barrons.com
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