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Salesforce Shares Rise 12.8% After Earnings Boost
The AI capex trade continued to work on Wednesday as gains in the Tech sector were paced by strong performance in computer hardware, communication equipment, and electronic components groups. Names like Arista Networks, Seagate, Western Digital, Corning, and Lumentumsaw outsized gains for the second consecutive session, and even infrastructure software performed well - Palantirand Oraclewere up nearly 3% on the day. Healthcare underperformed as investors booked profits after the sector's relative strength over recent weeks to rotate into AI-exposed areas of the market.Sentiment was also coiled heading into multiple blockbuster earnings announcements in the tech sector after hours, and the reporting companies did not disappoint. Nvidia was slightly weaker after earnings, but the management's forecast of 70% revenue growth in FY28 brought in buyers. Salesforce - the purported posterchild of "enterprise software as a victim of AI adoption" theme - spiked 13% to February highs as the company blew away estimates, raised guidance, and deepened its partnership with Anthropic. Meanwhile, cybersecurity and identity software stocks reporting results - Crowdstrike and Okta - also traded much firmer.In the opening hour of the evening session, US index futures reflect the optimism of positive earnings barrage - S&P e-minis are up 0.6% and NASDAQ 100 contract is up 1.1%.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Oktaup 20.3%Salesforceup 12.8%Lantronix (LTRX) up 12.2%Phibro Animal Health Corporation (PAHC) up 10.3%CrowdStrike Holdingsup 10.0%Veeva Systemsup 9.0%Nutanixup 8.1%Ooma, Inc.up 6.9%Agilent Technologiesup 4.6%NVIDIAup 4.2%Everpure, Inc.up 3.3%ALSO HIGHER -Tenable Holdingsup 7.8% after admission into S&P SmallCap 600 indexFunkoup 6.0% after insider buyDOWN AFTER EARNINGS -HP Inc.down 9.1%Urban Outfitters, Inc.down 3.6%Synopsysdown 1.0%ALSO LOWER -Wendy's Companydown 13.2% after Reuters report Trian is backing away from bid
Cisco Raises FY26 Orders Guidance to $9B
Ciscois scheduled to report results of its fiscal fourth quarter after the market closes on August 12 with a conference call scheduled for 4:30 pm ET. What to watch for:GUIDANCE:Along with its last report, Cisco guided for Q4 adjusted earnings per share of $1.16-$1.18 on revenue of $16.7B-$16.9B. At the time, analysts were expecting the company to report Q4 EPS of $1.07 on revenue of $15.82B, but those figures have since risen to $1.17 and $16.83B, respectively.Meanwhile, Cisco increased its adjusted EPS and revenue guidance for FY26 in its last report, and raised its FY26 expected orders from hyperscalers view to $9B from $5B.RESTRUCTURING:With its last quarterly report, Cisco also announced a restructuring plan in order to allow it to invest in key growth opportunities including silicon, optics, security and artificial intelligence. Cisco currently estimates that it will recognize pre-tax charges to its GAAP financial results of up to $1B consisting of severance and other one-time termination benefits, and other costs. These charges are primarily cash-based. Cisco said it expects to recognize approximately $450M of these charges in the fourth quarter of fiscal 2026 with the remaining amount expected to be recognized during fiscal 2027. The company added that such changes will result in the reduction of its overall workforce in Q4 by fewer than 4,000 jobs, representing less than 5% of its total employee base.KEYBANC:In late June, KeyBanc raised the firm's price target on Cisco to $130 from $125 and keeps an Overweight rating on the shares. The firm's chief investment officer survey for the first half of 2026 shows the gap "between the haves and the have-nots in the IT budget just got wider." AI and the AI-readiness spend jumped in priority by some of the largest proportions KeyBanc has seen since the technology emerged, the analyst told investors in a research note. The firm said it recommends investors stick with security, data, infrastructure and monitoring names.BOFA:Since the Q3 report, BofA has increased its price target on Cisco twice, first raising it to $135 from $114. At the time, the firm said Cisco's Q3 results and commentary around continued strong demand for Acacia keep the firm positive on the underlying demand environment for Optical Networking, the analyst tells investors.Meanwhile, BofA raised its price target on Cisco in early June to $150 from $135 and maintained a Buy rating on the shares. The firm raised price targets for Arista Networks, Cisco and Extreme Networksafter having hosted several networking sessions at its Global Technology Conference in San Francisco.MORGAN STANLEY:Also in June, Morgan Stanley raised the firm's price target on Cisco to $130 from $120 and keeps an Overweight rating on the shares. As inference and rising CPU intensity drive a front-end refresh, the firm tells investors that Cisco and Arista Networks remain its preferred ways to play what it views as "an underappreciated front-end networking refresh cycle."
Digital Turbine Shares Rise 24.3% After Earnings
Stock futures were mixed following this week's already sharp gains after another slate of big earnings reports. While SpaceX slipped after its first report as a public company, gains from Booking, Arista, and others weighed on futures. Crude oil futures were also lower amid optimism over a potential U.S.-Iran deal to reopen the Strait of Hormuz.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Digital Turbineup 24.3%Travere Therapeuticsup 12.4%Arista Networksup 9.2%Ultragenyxup 6.4%Bookingup 5.7%Wynn Resortsup 5.5%Paylocityup 3.4%ALSO HIGHER -Sight Sciencesup 9.6% after receiving FDA 510clearance of the Omni Ultra Surgical SystemDOWN AFTER EARNINGS -Teradatadown 18.4%ViaSatdown 9.5%Chemoursdown 9.4%Match Groupdown 9.1%Pinterestdown 9.1%AMDdown 8.7%Lucid Groupdown 7.8%DaVitadown 7.3%SpaceXdown 7.2%Lattice Semiconductordown 6.5%Coupangdown 6.1%
Sees 40% Annual Growth, Target Raised to $11.5B by 2026
Sees 40% annual growth, an incremental $2.1B over Analyst day goal of $10.5B and incremental $1.1B over recent projections ov $11.5B in May 2026. Guidance taken from Q2 earnings call.
Moonshot AI Plans Hong Kong Listing with $50B Valuation
Catch up on the top artificial intelligence news and commentary by Wall Street analysts on publicly traded companies in the space with this daily recap compiled by The Fly.MOONSHOT AI:Moonshot AI is preparing to begin discussions in August on a final round of fundraising before listing in Hong Kong, capitalizing on the excitement around its latest model to raise capital at a valuation of as much as $50B, Bloomberg's Haze Fan and Pei Li. The Chinese AI lab should close in coming days a financing round that began this summer at a valuation of $31.5B, people familiar with the matter said. Once finalized, Moonshot then intends to immediately open discussions with potential backers about a follow-on capital-raising, the sources said. That should mark the final infusion of capital for Moonshot before an initial public offering as soon as this year, the authors add.CHINESE AI:Parts of the Trump administration are reigniting efforts to implement de facto bans on foreign open-source models, as Chinese AI models gain momentum, Maria Curi of Axios. The move could lock in dominance by OpenAI and Anthropic, Curi writes.SMALL BUSINESS PROGRAM:OpenAIthe launch of its ChatGPT for small businesses program, "an initiative to help small businesses be more productive and scale their businesses with ChatGPT," the company explains. The ChatGPT for small businesses program includes hands on virtual training, in-person small business AI academies, new guides to get started, and new agents and partners built for small business.AI INFRASTRUCTURE IN EUROPE:Microsoftand Mistral announced an expansion of their strategic partnership to help enterprises and regulated industries adopt frontier AI. The companies are bringing Mistral's frontier and efficient models across the Microsoft platform, including Microsoft Foundry, Copilot Studio and Azure, so customers can build and run AI across a spectrum of operating environments. This partnership extends Microsoft's Sovereign Cloud approach by combining Mistral's frontier models with Microsoft's security, compliance and cloud-to-edge platform. Underpinning the partnership is a new multibillion-dollar agreement focused on expanding AI infrastructure in Europe. Mistral is adding its GPU capacity, drawing on thousands of the latest NVIDIA Vera Rubin GPUs to increase AI compute availability for customers and provide a shared platform for training, inference and large-scale deployment. Consistent with Microsoft's flexible approach to global infrastructure, which combines its own datacenters, leased facilities and strategic collaborations with third-party providers, it expands Microsoft's capacity footprint in Europe. As part of the expanded relationship, the companies are aligning on a joint go-to-market plan and will pursue enterprise opportunities together across Europe and globally. Mistral and Microsoft are also expanding the partnership to accelerate customer adoption.AI SUBSIDIARY:iPowerannounced plans to form a dedicated artificial intelligence subsidiary focused on AI hardware leasing and potential compute resource distribution opportunities. Through the subsidiary, iPower intends to evaluate acquiring AI computing hardware and leasing that hardware to prospective customers. The Company is currently in discussions with prospective customers that have expressed preliminary, non-binding interest in leasing such equipment if and when it is acquired and available for deployment. The proposed business model is straightforward: iPower would seek to acquire AI hardware, make the hardware available to customers that need AI computing capacity, and generate revenue by leasing the equipment to customers. Certain potential leasing structures may include substantial upfront lease payments by customers, subject to negotiation, customer credit evaluation, hardware availability and definitive agreements. In addition to hardware leasing, iPower may evaluate a compute resource distribution model through which AI computing capacity supported by deployed hardware may be made available to customers, data centers, compute operators or infrastructure partners.AI-DRIVEN THREAT MANAGEMENT:Arista Networksannounced the launch of its new AI-driven Edge Threat Management for VeloCloud SD-WAN, delivering integrated zero trust security for enterprise branch offices. Customers can leverage this integration to simplify the branch, collapsing multiple disparate boxes into a single unified secure SD-WAN edge platform.
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