10 Market Movers to Watch on Wednesday

Published on September 7, 2022 at 3:57 pm by Fahad Ali Khan in News

In this article, we will take a look at the 10 market movers to watch on Wednesday. If you want to see some more stocks making moves today, go directly to 5 Market Movers to Watch on Wednesday.

Notable stocks from the tech and communication services sectors, including Coupa Software Incorporated (NASDAQ:COUP), GitLab Inc. (NASDAQ:GTLB) and Pinterest, Inc. (NYSE:PINS), were spotted making big moves this morning.

Shares of Coupa Software Incorporated (NASDAQ:COUP) and GitLab Inc. (NASDAQ:GTLB) rose in pre-market trading Wednesday on better-than-expected quarterly performance. On the other hand, Pinterest, Inc. (NYSE:PINS) shares rallied after receiving an upgrade from Wolfe Research.

In addition, shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) and United Airlines Holdings, Inc. (NASDAQ:UAL) also rose after the opening bell today. See the full article below to find what brought these stocks on the list of 10 market movers to watch on Wednesday.

10. Korn Ferry (NYSE:KFY)

Number of Hedge Fund Holders: 21

Shares of Korn Ferry (NYSE:KFY) slid over four percent this morning after missing profit expectations for its fiscal first quarter. The management consulting firm’s results were partly affected by a weak operating margin.

Korn Ferry (NYSE:KFY) earned $1.50 per share on an adjusted basis, up from $1.37 per share in the corresponding period of 2021. Revenue increased 19.6 percent versus last year to $703.1 million. Analysts, on average, were looking for earnings of $1.51 per share on revenue of $697 million.

The operating margin for the quarter slipped to 16 percent versus 17.3 percent in the same period last year.

Looking forward, Korn Ferry (NYSE:KFY) projected adjusted earnings in the range of $1.34 – $1.50 per share for its fiscal second quarter. The midpoint of the guidance missed the expectations of $1.50 per share.

9. Newell Brands Inc. (NASDAQ:NWL)

Number of Hedge Fund Holders: 22

Newell Brands Inc. (NASDAQ:NWL) slashed its financial outlook for the full year, citing weak orders and the negative effects of inflation on its business. As a result, its shares hit a new 52-week low in pre-market trading Wednesday.

The consumer and commercial products retailer now expects earnings of $1.56 – $1.70 per share for fiscal 2022, down from its previous projection of $1.79 – $1.86 per share. In addition, Newell Brands Inc. (NASDAQ:NWL) expects to generate revenue of $9.37 – $9.58 billion for the same period, below its earlier forecast of $9.76 – $9.98 billion.

Discussing the revised outlook, CEO of Newell Brands Inc. (NASDAQ:NWL), Ravi Saligram, said in a statement:

“Although we remain enthusiastic about the back-to-school season and continue to see solid growth in the Commercial business, we have experienced a significantly greater than expected pullback in retailer orders and continued inflationary pressures on the consumer. As a result of these developments and our more cautious posture for the balance of the year, we are adjusting our expectations for the second half of 2022.”

Like Newell Brands Inc. (NASDAQ:NWL), Coupa Software Incorporated (NASDAQ:COUP), GitLab Inc. (NASDAQ:GTLB) and Pinterest, Inc. (NYSE:PINS), were also on the list of 10 market movers to watch on Wednesday.

8. UiPath Inc. (NYSE:PATH)

Number of Hedge Fund Holders: 24

UiPath Inc. (NYSE:PATH) announced better-than-expected financial results for its fiscal second quarter. However, its sales projection for the current quarter disappointed investors, sending its shares to a new low 52-week low in pre-market trading Wednesday.

The software company reported an adjusted loss of 2 cents per share, narrower than analysts’ average estimate for a loss of 11 cents. Revenue came in at $242.2 million, while analysts expected UiPath Inc. (NYSE:PATH) to generate revenue of $230.7 million.

For the third quarter, UiPath Inc. (NYSE:PATH) expects revenue in the range of $243 – $245 million, well below the consensus of $269.6 million. UiPath Inc. (NYSE:PATH) blamed currency fluctuation and macroeconomic volatility for the weak guidance.

7. NIO Inc. (NYSE:NIO)

Number of Hedge Fund Holders: 25

NIO Inc. (NYSE:NIO) is next on the list of 10 market movers to watch on Wednesday. The company’s shares fell to a nearly three-month low this morning following its mixed results for the second quarter.

The Chinese electric vehicle maker reported an adjusted loss of 20 cents per share, wider than analysts’ average estimate for a loss of 17 cents per share. In addition, NIO Inc. (NYSE:NIO) posted revenue of $1.54 billion, up 21.8 percent on a year-over-year basis and above the expectations of $1.43 billion.

Among other updates, NIO Inc. (NYSE:NIO) said it delivered 25,059 vehicles in Q2 versus 21,896 in the same quarter of the prior year. On the downside, its gross margin declined to 13 percent, from 18.6 percent in the year-ago period.

Moving forward, NIO Inc. (NYSE:NIO) expects vehicle deliveries in the range of 31,000 – 33,000 and revenue between $1.9 – $2 billion for the third quarter.

6. Guidewire Software, Inc. (NYSE:GWRE)

Number of Hedge Fund Holders: 28

Shares of Guidewire Software, Inc. (NYSE:GWRE) slightly moved down this morning despite beating profit and sales expectations for its fiscal fourth quarter. The software firm reported adjusted earnings of 3 cents per share, contrary to analysts’ expectations for a loss of 1 cent per share.

Revenue increased 7 percent versus last year to $244.6 million, ahead of the expectations of $229.6 million. Guidewire Software, Inc. (NYSE:GWRE) also disclosed its segment-wise sales results.

Revenue from the subscription and support segment climbed 34 percent to $93.6 million, while services revenue jumped 13 percent to $56.2 million in the quarter. On the downside, license revenue fell 14 percent to $94.8 million.

Moving forward, Guidewire Software, Inc. (NYSE:GWRE) expects to generate revenue in the range of $190 – $195 million for its fiscal first quarter and between $885 – $895 million for its fiscal year 2023.

Click to continue reading and see 5 Market Movers to Watch on Wednesday.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Published on May 1, 2024 at by Inan Dogan, PhD

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by a whopping 75%.

For a ridiculously low price of just $24, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single restaurant meal!

Here’s why this is a deal you can’t afford to pass up:

The Name of the Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.
Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.
Lifetime Money-Back Guarantee: If you’re not absolutely satisfied with our service, we’ll provide a full refund ANYTIME, no questions asked.

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

Head over to our website and subscribe to our Premium Readership Newsletter for just $24.
Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.
Sit back, relax, and know that you’re backed by our ironclad lifetime money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Subscribe Now!

A New Dawn is Coming to U.S. Stocks

Published on May 2, 2024 at by Insider Monkey Staff

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…

Insider Monkey Ads

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Log In

Sign Up