CrowdStrike's New Milestones

And, Workday's "palpable" momentum.

Today is Wednesday, November 29, 2023.

The Early Bird Index today is 60.86.

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CrowdStrike's New Milestones

CrowdStrike (Nasdaq: CRWD) dipped by 0.54% in after-hours trading on Tuesday despite good financial earnings results from the cybersecurity company.

Financials: CrowdStrike reported earnings of 82 cents per share in the past quarter and revenue of $786 million; both were better than expected.

Quote: “CrowdStrike’s record third quarter exceeded expectations, delivering new milestones across the business: net new ARR growth accelerated to a record $223 million and ending ARR surpassed $3 billion, making CrowdStrike the fastest and only pure play cybersecurity software vendor in history to achieve this milestone.” - CEO George Kurtz.

Outlook: The company expects revenue to jump to $840 million in the current quarter, which did not impress investors enough. That’s why the stock dropped.

Stock Price: Before the earnings report, CrowdStrike’s stock price more than doubled in 2023.

Final Thoughts: Cybersecurity company CrowdStrike is on fire in 2023, thanks to higher demand and more business data breaches. But similar to the earnings results from rival Zscaler (Nasdaq: ZS) on Monday, investors were not that impressed.

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Notable Earnings Today: Dollar Tree (Nasdaq: DLTR), Salesforce (NYSE: CRM), Foot Locker (NYSE: FL), Snowflake (NYSE: SNOW), Farfetch (NYSE: FTCH), Okta (Nasdaq: OKTA), Synopsys (Nasdaq: SNPS), Petco Health and Wellness (Nasdaq: WOOF), Hormel Foods (NYSE: HRL), Five Below (Nasdaq: FIVE), Victoria's Secret (NYSE: VSCO), PVH (NYSE: PVH), Arrowhead (Nasdaq: ARWR), Credo Technology Group (Nasdaq: CRDO), Patterson Companies (Nasdaq: PDCO), Zuora (NYSE: ZUO), Donaldson (NYSE: DCI), Nutanix (Nasdaq: NTNX), Bilibili (Nasdaq: BILI), La-Z-Boy (NYSE: LZB), Pure Storage (NYSE: PSTG), Collplant Biotechnologies (Nasdaq: CLGN), Vestis (NYS: VSTS).

Notable IPOs Today: Hilton Small-MidCap Opportunity ETF (Nasdaq: SMCO).

Notable Equity Crowdfunding Campaigns Ending Today: Sazi Foods (Netcapital).

Notable Economic Events Today: GDP (8:30 a.m. ET), Goods Trade Balance (8:30 a.m. ET), Retail Inventories (8:30 a.m. ET), Crude Oil Inventories (10:30 a.m. ET), Beige Book (2:00 p.m. ET).

Workday's "Palpable" Momentum

Enterprise software company Workday (Nasdaq: WDAY) jumped by 7.13% in after-hours trading on Tuesday due to good financial results and comments from the CEO.

Financials: Workday reported earnings of $1.53 per share in the past quarter and revenue of $1.87 billion; both were better than expected.

Details: The company reported a profit for the quarter, way better than the operating loss in the same period last year.

Quote: “The momentum across our business is palpable, powered by our AI innovation, strength in full platform deals, expanding partner ecosystem, and international growth.” - Co-CEO Carl Eschenbach.

Final Thoughts: Workday is up 40% this year, and is approaching its all-time high.

Las Vegas Sands Drops Due to Sale

The Adelson family is selling $2 billion in shares of Las Vegas Sands (NYSE: LVS), with the announcement causing the stock to drop by 4.36% in after-hours trading on Tuesday.

Details: Those funds will be used to purchase the NBA’s Dallas Mavericks from Mark Cuban, according to CNBC.

Final Thoughts: Las Vegas Sands is down about 3% this year.

Trends to Watch

Breaking Up: Apple Pulls Plug on Goldman Credit-Card Partnership (Wall Street Journal)

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