Stock Market News
Midday Stock Movers: Dell, American Eagle, Zscaler
2022.05.27 19:12
By Sam Boughedda
Investing.com — US equities are rising again on the last trading day of the week with the Nasdaq up 2.5%. Here are your midday movers on Friday, May 27th.
- Dell Technologies (NYSE:DELL) rallied 11.8%, after better-than-expected earnings and revenue. The company saw demand rise for desktop and laptop computers.
- Zscaler (NASDAQ:ZS) also topped earnings and revenue estimates, sending its shares 10.4% higher. The company’s revenuegrew 63% year-over-year to $286.8 million, while calculated billings increased 54% to $345.6 million.
- Chinese e-commerce platform Pinduoduo (NASDAQ:PDD) is up 6.9% after it reported better than expected quarterly results as Covid-19 lockdowns in China boosted the demand for online shopping.
- Shares of Iovance Biotherapeutics (NASDAQ:IOVA) have plummeted over 54% after it announced new clinical data for its experimental melanoma drug.
- Ulta Beauty (NASDAQ:ULTA) has climbed 9.7%. The cosmetics retailer beat profit and revenue forecasts when it reported after the close Thursday, with strong demand for beauty products boosting its results. Ulta also provided an upbeat outlook.
- American Eagle Outfitters (NYSE:AEO) has fallen over 5.2% after it missed earnings and revenue estimates. The company was impacted by weaker demand, higher gas prices, and a stronger than anticipated pivot to other discretionary categories.
