Analysis of Zscaler and Other Market Movers Unraveling the Enigma behind Zscaler’s 10% Plunge and Other Market Surprises

By: Alex Freidmen



Shares of Zscaler, Inc. ZS encountered a stark decline during Friday’s trading frenzy subsequent to their unveiling of second-quarter results.


Zscaler reported a stellar performance for its second quarter, surpassing earnings and sales forecasts on Thursday. The firm projected a non-GAAP operational income for fiscal year 2024 ranging between $395 million and $400 million with net income per share slated between $2.73 and $2.77.


The price of Zscaler shares tumbled by 10.1% to $217.43 on Friday.


Embarking on a rollercoaster journey, here is a glance at some other equities that are making waves in the mid-day trading session:


Thrivers


  • BioVie Inc. BIVI witnessed a surge of 96.1% to $2.4319. BioVie’s Ne3107 displayed promising potential in ameliorating both motor and non-motor symptoms for Parkinson’s disease patients while also exhibiting the capacity to recalibrate physiological processes for Alzheimer’s patients.
  • Adial Pharmaceuticals, Inc. ADIL vaulted 68.4% to $3.4350. The firm secured a fresh patent encompassing AD04 designated for combating opioid use disorder.
  • Cardiff Oncology, Inc. CRDF observed a 41.5% upsurge to $2.50 subsequent to revealing stellar fourth-quarter financial outcomes, providing a clinical update on the Phase 2 randomized second-line ONSEMBLE trial for patients afflicted by RAS-mutated mCRC, and heralding the initiation of dosing for the randomized first-line RAS-mutated mCRC trial.
  • Minim, Inc. MINM recorded a 41.4% escalation to $6.09. Minim formalized an employment agreement with David Lazar to undertake the roles of CEO and CFO subsequent to the departure of Jeremy Hitchcock on Feb. 20.
  • The RealReal, Inc. REAL achieved a 39.1% hike to $2.4613 following a robust quarterly financial showcase.
  • Nxu, Inc. NXU secured a 36.4% increase to $1.09 post their revelation of successfully charging a Tesla Cybertruck on Feb. 26.
  • Jaguar Health, Inc. JAGX climbed 35.3% to $0.0798.
  • Dell Technologies Inc. DELL rose 26.3% to $119.52 after the company furnished impressive fourth-quarter financial figures and augmented its yearly cash dividend by 20%.
  • Sweetgreen, Inc. SG surged by 26% to $16.05 after delivering better-than-anticipated fourth-quarter financial results.








Dive into the Stock Market Rollercoaster

Dive into the Stock Market Rollercoaster

The Winners

  • Arvinas with an Overweight and raised the price target from $26 to $60.
  • The Cooper Companies, Inc. gained 7.4% to $100.61 after the company reported better-than-expected first-quarter financial results and raised guidance.
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The Losers

  • GigCapital5, Inc. shares fell 60.7% to $4.35.
  • Fisker Inc. shares tumbled 44.6% to $0.4035 after reporting preliminary fourth-quarter total revenue results below estimates.
  • Sidus Space, Inc. fell 39.9% to $5.41.
  • Scilex Holding Company shares declined 39.7% to $1.37 after reporting a $10 million bought deal offering.
  • DermTech, Inc. fell 32.8% to $0.86 after the company reported worse-than-expected quarterly revenue results.
  • Precision BioSciences, Inc. fell 31.7% to $12.62 after the company announced a $40 million offering of common stock and warrants.
  • Volcon, Inc. fell 30.1% to $0.93.
  • Tritium DCFC Limited fell 27.4% to $0.1031.
  • Vivani Medical, Inc. declined 27% to $3.0798.
  • Humacyte, Inc. shares dipped 25.3% to $3.2450.
  • New York Community Bancorp, Inc. fell 24.2% to $3.6301 after the company identified material weakness in internal controls and announced a leadership transition.
  • JAKKS Pacific, Inc. fell 23.7% to $26.79 following weak quarterly results.
  • TTEC Holdings, Inc. dipped 22.6% to $13.50 after the company reported mixed fourth-quarter financial results and issued FY24 adjusted EPS and revenue guidance below estimates.
  • Gritstone bio, Inc. fell 20.5% to $2.2250 after the company announced an approximately 40% reduction of its workforce.
  • NCR Voyix Corporation declined 19.8% to $11.72.
  • Cue Health Inc. shares fell 15.6% to $0.2699.
  • P10, Inc. fell 15.2% to $7.86 following fourth-quarter results.
  • Elastic N.V. shares dipped 14.1% to $114.91 after the company reported third-quarter financial results.
  • American Coastal Insurance Corporation fell 13.1% to $12.11 following weak sales.
  • B. Riley Financial, Inc. shares declined 12.5% to $15.96 after the company reported fourth-quarter financial results.
  • SoundHound AI, Inc. shares fell 11.6% to $6.56 after the company reported weaker-than-expected fourth-quarter financial results.
  • Senseonics Holdings, Inc. fell 10.1% to $0.6311 following fourth-quarter results.
  • Ginkgo Bioworks Holdings, Inc. fell 9.7% to $1.3715 after the company reported worse-than-expected fourth-quarter financial results and issued FY24 revenue guidance below estimates.
  • Ginkgo Bioworks Holdings, Inc. fell 9.5% to $1.3750 following downbeat quarterly results.
  • Xcel Energy Inc. fell 6.4% to $49.29.

 

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