Nov 16th, 2023 – Many stocks fell today after prospects of sales didn’t meet expectations, however some grew after good quarters results, with the S&P closing at 4.508,24 points (+0,12%), the NASDAQ at 14.113,67 (+0,07%) and lastly Dow Jones a decreasing at 39.945,47 (-0,13%).
Portfolio holding Palo Alto Networks (PANW) (0.2 units @ $245.03) dropped 6% after hours following the announcement of a billing climb of 16% instead of the expected 18%, despite surpassing expectations on earnings and closing at -5,42%.(R.Krause)
Burberry (BRBY) sank almost 10%, making its biggest one-day percentage loss since September 2022, after the announcement that it will struggle to meet its revenue target as it is being hit by global slowdown in luxury spending. It was down -11,15% at close. (S.Shankar)
Portfolio holding Novo Nordisk (NVO) (@ $100.88) gained 2,80% in pre-market trading, sales of weight-loss medicine are projected to skyrocket through the end of the decade. The company is also waiting on approval for icodec, a prospecting once a week insulin product. At closing it made +3,21%. (P. Bakiny)
Cisco Systems (CSCO) tumbled 12% despite better-than-expected earnings as the company’s revenue outlook missed estimates and also announced a reduced full-year revenue forecast following a general orders’ slowdown. The stock recovered a bit during the day resulting in a final -9,83% (C.Laidey)
Walmart (WMT) shares dropped more than 7% as it gave a forecast on consumer spending slightly lower than expected. This happens despite the company topping quarterly earnings and having increasing sales. The stock kept going down closing the day with a -8,09%.(M.Repko)
Author: Luca Sesena