Feb 1st, 2024 – Today shares jumped and fell after many companies reported their quarters’ results, but in general the market reacted positively, the biggest winner was NASDAQ as it grew 1.3% closing at 15,361.64. Just points lower we have the S & P 500 with an increase of 1.25% that closed at 4,906.19 and lastly DOW JONES growing 0.97% closing at 38,519.84. Shares of Internet of Things service provider Digi International (DGII), soared today, as much as 16.2% after the company reported fiscal first-quarter 2024 financial results. Despite the results being negative as revenue fell 3%, net loss of $3 million and adjusted earnings per share of $0.48, flat from a year ago, shares jumped as they beat expectations. In fact analysts were only expecting revenue of $105.8 million, while it resulted at $106.1 million, and earnings per share expected to be at $0.45. The day ended with the stock increasing 13.86%. (T.Hoium)
Shares of Calavo Growers (CVGW) were descending after the avocado grower posted a decline in revenue and earnings in its fourth quarter. The company, one of the largest avocado producers, declared a revenue decrease of 1% at $241.2 million, missing the consensus at $252.4 million. In its grown segment, mostly avocados but also other products like tomatoes, revenue rose to $125.7 million, while the prepared segment struggled with revenue down 7,9% to $116.1 million. At the end of the day shares were down by 6.09%. (J.Bowman)
Ferrari (RACE) shares jumped today after the luxury automaker reported Q4 sales results that topped expectations and with expectations of momentum continuing in 2024. The company has also announced the signing of seven-time world champion Lewis Hamilton to its F1 racing team. For its quarter the company reported revenue of 1.52 billion euros, topping the 1.50 billion euros estimates and also sales rose 11%. The stock closed the day with a positive growth of 12.58%. (P.Subramanian)
Author: Luca Sesena