Market-Moving News for May 31st
Portfolio Pulse from ryanfaloona@benzinga.com
Market-Moving News for May 31st: Zscaler (ZS) shares rise 17% after better-than-expected Q3 earnings. MongoDB (MDB) shares fall 27% following Q1 earnings. C3is (CISS) reports Q1 2024 EPS of $1.11, down from $10.06 YoY, but revenue increases to $12.792M from $3.151M YoY, leading to a 34% rise in shares.
May 31, 2024 | 12:44 pm
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NEGATIVE IMPACT
MongoDB shares are trading lower by 27% following Q1 earnings.
The sharp decline in MongoDB's stock price is a direct result of the company's Q1 earnings report, which likely disappointed investors.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
C3is shares are trading higher by 34% after reporting Q1 2024 EPS of $1.11, down from $10.06 YoY, but revenue increased to $12.792M from $3.151M YoY.
C3is's stock price surged due to a significant increase in revenue, despite a year-over-year decline in EPS, indicating strong market reaction to revenue growth.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Zscaler shares are trading higher by 17% after the company reported better-than-expected Q3 earnings.
The significant rise in Zscaler's stock price is directly attributed to the company's strong Q3 earnings report, which exceeded market expectations.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100