Early Bird
Posts
CrowdStrike's New Milestones

CrowdStrike's New Milestones

And, Workday's "palpable" momentum.

Photo by Adi Goldstein on Unsplash

Today is Wednesday, November 29, 2023.

The Early Bird Index today is 60.86.

New to this newsletter? Sign up here

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.

ELEVATOR (Sponsored)

700,000+ Guys read ELEVATOR every damn day

The best eye and brain candy curated from all corners of the web

No news. No politics. No BS.

Just the good stuff

100% Free

Notables

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

Photo by Alex Kotliarskyi on Unsplash

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.