Okta stock rally shifts into overdrive following hiked outlook as other software companies trim theirs

Okta Inc. shares rallied in the extended session Thursday, adding to gains in the regular session after the identity-management services company reported better-than-expected results and, some larger software companies, hiked their outlook for the year. okta okta, +10.96% shares soared 18% in Thursday’s after-hours session, building on an 11% rises in the regular session to … Read more

Microsoft joins chorus of tech companies warning about the effects of a strong dollar

Microsoft Corp. cut its guidance due to a headwind that’s been a dominant talking point for tech companies reporting earnings of late: The strong dollar is making business more expensive. Microsoft MSFT, +0.79% executives disclosed Thursday in a PowerPoint presentation that due to an “unfavorable foreign exchange rate movement in the fourth quarter,” they were … Read more

Brian Moynihan dismisses Jamie Dimon’s warning on the economy: ‘You’ve got hurricanes that come every year.’

Jamie Dimon, the JPMorgan Chase JPM, -0.62% chairman and chief executive, got everyone’s attention when he warned hike there’s an economic hurricane coming, from rates, the war in Ukraine and inflation. Brian Moynihan, the chairman and chief executive of Bank of America BAC, -0.80%, had a chance to respond, at the very same Bernstein Strategic … Read more

Opinion: No tech sector appears safe from the spring swoon

Nvidia Corp., Nutanix Inc. and Snowflake Inc. all gave earnings forecasts that were below analysts’ expectations on Wednesday, the latest in a batch of tech companies across sectors to give warnings about changing macroeconomic conditions in the spring. Lowered forecasts have struck across tech sectors, from social-media company Snap Inc. SNAP, +4.59% to chip maker … Read more

Nvidia stock drops as China COVID shutdowns weaken outlook

Nvidia Corp. shares fell in the extended session Wednesday after COVID shutdowns in China and the war in Ukraine shaved half a billion dollars off the chip maker’s outlook for the current quarter, while the company reported record results. For the fiscal second, or current, quarter, Nvidia NVDA, +5.08% forecast revenue of $7.94 billion to … Read more

Here’s the real reason the stock market is coming unglued — and it isn’t because of weak earnings

An earnings recession is not the biggest threat facing the stock market right now. That may seem a curious assertion to make in a week in which the largest retailers are reporting disappointing earnings and retail-sector stocks are being pummeled. In fact, contracting P/E multiples are the big culprit. To show that an earnings recession … Read more

‘We did not have a plan for a country to shut down’ — Cisco stock plunges 13% as China lockdown affects supply and outlook

Cisco Systems Inc. shares plunged into the extended session Wednesday after the tech bellwether’s revenue forecast came up more than $1 billion short of Wall Street expectations, which executives blamed on COVID shutdowns in China. Cisco CSCO, -4.43% shares dropped 13% after hours, following a 4.4% decline in the regular session to close at $48.36. … Read more

‘Managed futures are like pigs in mud’: This ETF manager is replicating hedge-fund strategies to pull off big gains as stocks and bonds drop this year

Hello! Market jitters remain high this week as stocks continue to slide, with Cathie Wood’s ARK Innovation ETF standing out in the recent carnage. “We’ve entered a new era that is going to really challenge a lot of the ways people were making money,” says Andrew Beer of Dynamic Beta investments, or DBi. In this … Read more

Affirm stock soars 34% after earnings ‘put to bed some persistent bear themes’

Shares of Affirm Holdings Inc. surged in after-hours trading Thursday after the buy-now pay-later company delivered a revenue beat and sought to reassure investors about its positioning in a downturn. Revenue at Affirm AFRM, +23.31% increased to $354.8 million in the fiscal third quarter from $231 million a year before, while analysts had been modeling … Read more