Catching Up on Earnings

Earnings, and their subsequent reactions in the market can tell a lot about the tone of the market.

Monday saw CRDO surge almost 50% higher on impressive volume as Credo technology reported solid numbers and guidance with momentum across several of their core business units.

Tuesday

After Hours Summary: PSTG +23.8%, OKTA +14.5%, MRVL +9.6%, CRM +6.9% higher on earnings; CURV -23.8%, BASE -10% lower on earnings; CPB -3.3% names a new CEO, also reports earnings

After Hours Gainers:

Companies trading higher in after hours in reaction to earnings/guidance: PSTG +23.8%, OKTA +14.5%, MRVL +9.6%, CRM +6.9%

Companies trading higher in after hours in reaction to news: HRTX +92.4% (favorable court decision), JANX +3.2% ($300 mln stock offering), RUSHA +1.2% (authorizes new $150 mln share repurchase program), SGML +0.7% (production at full capacity; record shipment of quintuple zero green lithium), WULF +0.7% (announces Nov production data), RJF +0.6% (authorizes new $1.5 bln share repurchase program, also increases dividend), FTAI +0.5% (announces sale of remaining offshore energy vessels), RIO +0.2% (RIO and Sumitomo Metal to form JV), GSAT +0.2% (PSN and GSAT announce exclusive partnership), G +0.1% (signs strategic collaboration agreement with AWS), GENI +0.1% (announces collaboration with TNT Sports and NBA 2K), STC +0.1% (CEO contract extension)

After Hours Losers:

Companies trading lower in after hours in reaction to earnings/guidance: CURV -23.8%, BASE -10%, CPB -3.3% (also CEO to retire; names new CEO; increases dividend), BOX -3.1%, UNH -1.1%

Companies trading lower in after hours in reaction to news: TRVI -23.7% (announces topline results from study of oral nalbuphine), LUNR -13.7% (launches $65 mln stock offering and concurrent private placement), GXO -10.1% (CEO to retire), CRGY -3.6% (to acquire Eagle Ford assets from Ridgemar Energy for $905 mln; also announces 18 mln share offering), IREN -1.9% ($300 mln convertible notes offering), ODFL -1.1% (reports LTL operating metrics for Nov), ED -0.3% (7 mln share offering), DTE -0.1% (increases dividend)

Thoughts -

I like to see names like PSTG CRM MRVL and OKTA reporting and having a positive reaction in the market so far. This can only help our positions in SNOW and DDOG, DOCS, TWLO and several other tech focused names we have talked about.

I am going to keep my eye on how the market reacts to these earnings while going through their reports for any actional information, I will keep everyone posted.

Good Luck

—NS