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Today is Wednesday, March 6, 2024.

The Early Bird Index today is 71.43.

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CrowdStrike Goes With the Flow

Cybersecurity company CrowdStrike Holdings (Nasdaq: CRWD) surged by 23.76% in after-hours trading on Tuesday after reporting financial results and acquiring a startup.

Financials: CrowdStrike reported earnings of 95 cents per share in the past quarter and revenue of $845.3 million; both were better than expected.

Outlook: Topping the financial results was the company’s strong guidance. CrowdStrike expects revenue in the current quarter to be between $902.2 million to $905.8 million and revenue for the full year to be between $3.92 billion to $3.98 billion; both were better than expected.

Powering the Story: CrowdStrike has also expanded its capabilities. The company announced it acquired the data security startup Flow Security.

Stock Price: CrowdStrike is up 133% in the past 12 months.

Final Thoughts: A strong outlook coupled with a new acquisition is making investors of CrowdStrike very happy.

Notables

Notable Earnings Today: Abercrombie & Fitch (NYSE: ANF), Victoria's Secret (NYSE: VSCO), Foot Locker (NYSE: FL), Rush Street Interactive (NYSE: RSI), Campbell Soup (NYSE: CPB), Yext (NYSE: YEXT), United Natural Foods (NYSE: UNFI), JD.com (Nasdaq: JD), Berry Petroleum (Nasdaq: BRY), Brown-Forman (NYSE: BF.B), EVgo (Nasdaq: EVGO), Genius Sports (NYSE: GENI), HighPeak Energy (Nasdaq: HPK), Honest Company (Nasdaq: HNST), Kodiak Gas Services (NYSE: KGS), Korn Ferry (NYSE: KFY), Infinera (Nasdaq: INFN), Inovio Pharmaceuticals (Nasdaq: INO), OneSpan (Nasdaq: OSPN), REV Group (NYSE: REVG), Super Group (NYSE: SGHC), Thor Industries (NYSE: THO), Trinity Capital (Nasdaq: TRIN), TriplePoint Venture Growth (NYSE: TPVG), Vermilion Energy (NYSE: VET), Xeris Biopharma Holdings (Nasdaq: XERS). 

Notable IPOs Today: Nuveen Ultra Short Income ETF (Nasdaq: NUSB), Nuveen Preferred and Income ETF (Nasdaq: NPFI), Nuveen Sustainable Core ETF (Nasdaq: NSCR), Nuveen Core Plus Bond ETF (Nasdaq: NCPB).

Notable Equity Crowdfunding Campaigns Ending Today: Frannie Franks Coffee Cakes (Honeycomb), Parts & Labor (Honeycomb), ByteNite (Wefunder), MF Fire (StartEngine).

Notable Economic Events Today: ADP Nonfarm Employment Change (8:15 a.m. ET), Fed Chair Powell Testifies to Congress (10:00 a.m. ET), JOLTs Job Openings (10:00 a.m. ET), Crude Oil Inventories (10:30 a.m. ET), Federal Reserve Beige Book (2:00 p.m. ET).

Nordstrom’s 2024 Sales Forecast

Despite posting better-than-expected financial results, retailer Nordstrom (NYSE: JWN) fell 9.43% in after-hours trading on Tuesday due to its weaker outlook.

Financials: Nordstrom reported earnings of 96 cents per share in the past quarter and revenue of $4.4 billion; both were better than expected.

Outlook: The company warned that both revenue and comparable sales could potentially decline in the current year.

Final Thoughts: Nordstrom, up 6% in the last 12 months, forecasts weaker sales in 2024. That could spell trouble for other retail stocks as well.

ChargePoint Posts Weak Results

A double whammy for ChargePoint Holdings (Nasdaq: CHPT), which fell by 7.50% in after-hours trading on Tuesday after posting bad financial results and a weaker outlook.

Final Thoughts: ChargePoint is down 81% in the last 12 months as demand for electric vehicles plummets.

Trends to Watch

May Day: SEC Pushes Back Decision on BlackRock, Fidelity's Ether ETF Applications (CoinDesk)

Winners and Losers: The Believers Who Rode Bitcoin to a Record High—and the Ones Who Missed Out (Wall Street Journal)

Conservative Approach: Ross Stores says that housing and food costs continue to pressure its customers (MarketWatch)

Eyeing Apple: Apple Shares Are Tanking. Here Are Levels Traders Are Watching (Bloomberg)

New Way to Retail: Target launches a $49 subscription service for customers wanting quick delivery (The Los Angeles Times)

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The contents from Early Bird are for informational and entertainment purposes only and do not constitute financial or legal advice.