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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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
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