CrowdStrike's Net New AAR

And, Hewlett Packard's AI systems.

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Today is Wednesday, June 5, 2024.

The Early Bird Index today is 72.34.

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CrowdStrike's Net New AAR

Cybersecurity technology company CrowdStrike (Nasdaq: CRWD) jumped 6.75% in after-hours trading on Tuesday after posting strong financial results.

Financials: CrowdStrike reported earnings of 93 cents per share in the past quarter and revenue of $921 million; both were better than expected.

Powering the Story: The highlight for this quarter was net new AAR (annual recurring revenue), which grew 22% year-over-year to $212 million.

Outlook: The company also expects revenue in the current quarter to be between $958.3 million to $961.2 million.

Stock Price: CrowdStrike is up 23% this year, although the stock is down 3% in the last 30 days.

Final Thoughts: While some investors thought the outlook was a bit conservative, most were pleased with the results from the past quarter.

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Notable Earnings Today: Lululemon Athletica (Nasdaq: LULU), Dollar Tree (Nasdaq: DLTR), Ollie's Bargain Outlet (Nasdaq: OLLI), ChargePoint (NYSE: CHPT), United Natural Foods (NYSE: UNFI), Victoria's Secret (NYSE: VSCO), Brown-Forman (NYSE: BF.B), Hibbett (Nasdaq: HIBB), Five Below (Nasdaq: FIVE), Campbell Soup (NYSE: CPB), Semtech (Nasdaq: SMTC), Greif (NYSE: GEF), Thor Industries (NYSE: THO), Sprinklr (NYSE: CXM), Couchbase (Nasdaq: BASE), Smartsheet (NYSE: SMAR), REV Group (NYSE: REVG), Douyu International Holdings (Nasdaq: DOYU), Global Blue (NYSE: GB), Lands’ End (Nasdaq: LE), ReNew Energy Global (Nasdaq: RNW).

Notable IPOs Today: Chenghe Acquisition II Co. (NYSE American: CHEB), BlackRock Large Cap Growth ETF (Nasdaq: BGRO).

Notable Equity Crowdfunding Campaigns Ending Today: N/A.

Notable Economic Events Today: ADP Nonfarm Employment Change (8:15 a.m. ET), S&P Global Services PMI (9:45 a.m. ET), S&P Global Composite PMI (9:45 a.m. ET), ISM Non-Manufacturing PMI (10:00 a.m. ET), ISM Non-Manufacturing Prices (10:00 a.m. ET), ISM Non-Manufacturing Employment (10:00 a.m. ET), Crude Oil Inventories (10:30 a.m. ET).

Hewlett Packard's AI Systems

Shares of Hewlett Packard Enterprise (NYSE: HPE) soared by 15.28% in after-hours trading on Tuesday after the company posted good financial results.

Financials: Hewlett Packard reported earnings of 42 cents per share in the past quarter and revenue of $7.2 billion; both were better than expected.

Quote: “AI systems revenue more than doubled from the prior quarter,” - CEO Antonio Neri.

Outlook: The company also raised its revenue and earnings guidance for the full year.

Final Thoughts: Hewlett Packard was only up 3.96% this year before the results. Now, it’s using the AI hype to turn things around.

Uniswap Jumps Due to Teaser

The price of the cryptocurrency Uniswap jumped 18% on Tuesday thanks to a social media post.

Details: On Tuesday, Uniswaps Labs, the organization behind the Uniswap coin, posted a social media teaser of a video countdown with the text “Get ready for something Super.”

Final Thoughts: Uniswap is up over 50% this year, but it still carries a lot of risk for investors.

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.