Core Viewpoint - Nutanix reported fiscal third-quarter earnings and revenue that exceeded consensus estimates, but the revenue guidance for the upcoming quarter fell short of expectations, leading to a significant drop in stock price [1][2]. Financial Performance - For the quarter ended April 30, Nutanix reported earnings of 28 cents per share on an adjusted basis, compared to 4 cents a year earlier, surpassing estimates of 17 cents [1]. - Revenue increased by 17% to $524.6 million, exceeding the expected $516 million [1]. - Free cash flow was reported at $78.3 million, which was below the estimated $85.5 million [1]. Future Guidance - For the current quarter ending in July, Nutanix projected revenue between $530 million and $540 million, which is below the consensus estimate of $546 million [1]. Key Metrics - Annual Contract Value (ACV) billings rose by 20% to $288.9 million, surpassing estimates of $271.5 million [3]. - Nutanix has transitioned to a software subscription business model, moving away from hardware appliance sales [3]. Market Performance - Nutanix stock experienced a decline of over 11% to $64.90 in extended trading following the earnings report [2]. - The stock has gained 51% in 2024 and is currently trading above a 5% buy zone, with an entry point of 66.98 [3]. - Nutanix holds a Relative Strength Rating of 97 out of a best-possible 99 [3].

With software stocks already struggling, Salesforce (CRM) on Wednesday reported first-quarter earnings that topped estimates while revenue missed. July quarter revenue guidance for Salesforce stock came in well below expectations. Shares tumbled as investors await a boost from artificial intelligence products.X The enterprise software maker released the April-quarter Salesforce earnings report after the market close. Salesforce's sales growth has slowed despite an acquisition spree that included Slack Techn ...

Wednesday's IBD 50 Stocks To Watch pick, streaming giant Netflix (NFLX), is in buy range from its latest entry following a recent breakout to new highs. That makes Netflix stock one of the best to watch right now. Shares rallied nearly 2% midday Wednesday.X Netflix stock dived after the company reported quarterly numbers on April 18. The company crushed Q1 targets but missed views with its sales outlook, sending shares down more than 9%. The stock has recovered impressively since then.Netflix added 9.33 mil ...

Dow Jones Futures: Surging Nvidia Masks Weak Market Breadth; Hot IPO Cava Falls Late10:46 AM ETWhile Nvidia continued to drive the Nasdaq higher, the Dow undercut support. Hot IPO Cava fell late on earnings. 10:46 AM ETWhile Nvidia continued to drive the Nasdaq higher, the Dow... ...

American Airlines (AAL) cut its outlook late Tuesday and said its chief commercial officer, Vasu Raja, will leave in June. AAL stock tumbled late, with several other airline stocks retreating, including United and Delta.X American Air now expects second-quarter earnings per share of $1-$1.15 vs. its prior target of $1.15-$1.45. It sees unit revenues down 5%-6% vs. a year earlier. Previously, it expected a 1%-3% decline.The carrier said Stephen Johnson, vice chairman and chief strategy officer, will assume R ...

Among the best stocks to watch, Dow Jones tech giant Apple (AAPL), Crocs (CROX), artificial intelligence leader CrowdStrike (CRWD) and Novo Nordisk (NVO) are in or near buy zones during the ongoing stock market rally. X An essential resource for daily breakouts is IBD MarketSurge's "Breaking Out Today" list. It shows MarketSurge Growth 250 stocks… ...

Mediterranean fast-casual food chain Cava Group (CAVA) reports Q1 earnings late Tuesday. CAVA stock hit a fresh record high ahead of results, with the hot IPO nearly doubling in 2024. X Stifel on Tuesday hiked its price target on CAVA stock to 90 from 66 and maintained a buy rating on shares, The Fly reported. The firm forecasts the report will "provide evidence of the organic flywheel effect," which occurs when incremental improvements accumulate momentum for significant growth. Meanwhile, Cava is a releva ...

Tesla (TSLA) shareholders should reject CEO Elon Musk's proposed $56 billion compensation package, proxy advisory firm Glass Lewis said.X Glass Lewis said the pay deal is "excessive" and cited the "dilutive impact" on current shareholders. Investors first approved the pay deal back in 2018, but a Delaware court struck it down earlier this year, saying shareholders weren't adequately informed.Elon Musk has hinted he could develop artificial intelligence and robotics outside of Tesla if he doesn't get the pay ...

S&P 500 index components GE Aerospace (GE), Cintas (CTAS) and Lam Research (LRCX) are in focus this week along with Dow Jones giant Merck (MRK) and Celsius Holdings (CELH).X The stock market rally had a mixed week, with the Nasdaq rising solidly to record highs despite Thursday's downside reversal. But the Dow Jones fell sharply for the week.These five highlighted stocks are all showing relative strength and should be on investors' watchlists.Celsius was Thursday's IBD Stock Of The Day. The stock also sits ...

Core Viewpoint - Exxon Mobil's stock has experienced volatility following a failed breakout, with questions surrounding its ability to reclaim leadership in the energy sector after reporting lower-than-expected earnings and sales [1] Group 1: Company Developments - Exxon completed the acquisition of Pioneer Natural Resources, expected to more than double its Permian production to 1.3 million barrels of oil equivalent per day [1] - The company is focusing on its operations in Guyana, with a new $12.7 billion project named Whiptail, which will add approximately 250,000 barrels of oil by the end of 2027 [2] - Exxon is pursuing a case to block the sale of Hess to Chevron, which could extend until 2025 [2] Group 2: Financial Performance - In Q1, Exxon reported adjusted EPS of $2.06, a 27% decline from the previous year, while sales were $83.1 billion, down 4% [5][6] - This marks the second consecutive quarter of declining EPS, following drops of 53% and 49% in the previous two quarters [6] - Analysts estimate a potential turnaround in Q2 with a projected 26% profit increase despite a 1% sales decline [6] Group 3: Market Position and Stock Analysis - Exxon's stock is currently below its 50-day moving average and has a Composite Rating of 65, with an EPS Rating of 60 [7] - The stock's Accumulation/Distribution Rating is C-, indicating equal institutional buying and selling over the last 13 weeks [7] - Technical analysis shows the stock is below its early stage flat base, with a recent drop of 2.8% following mixed Q1 results [8] Group 4: Oil Price Influence - Crude oil prices have a significant impact on Exxon's stock performance, with rising prices lifting energy stocks earlier in the year [4] - Current WTI oil prices are around $77 per barrel, down from April highs, while gasoline prices have increased to an average of $3.61 per gallon [4] - The company is expected to rise and fall with crude oil prices, which may affect stock performance despite fundamental strengths [9]